Question

_____ is a government recognized institution that carries out transaction of money.​

Answer 1

Bank is a government recognized institution that carries out transaction of money.

Banking services in India :

• There are a number of varieties of banks in India. They are Commercial Banks, Small Finance Banks, Payments Banks, Co-operative Banks and Local Area Banks.

• Of the banks we know, Bank of Baroda, Bank of India, Canara Bank, Indian Bank, State Bank of India, etc. are private sector banks.

• An amazing fact is that State Bank of India has a total asset of Rs. 48.46 trillion.