Question

list out the characteristics of bank transaction






❌no spam ❌​

Answer 1

Explanation:

It may be an Individual/Firm/Company.

It is a profit and service oriented institution.

It acts as a connecting link between borrowers and lenders.

It deals with money.

It accepts deposits from public.

It provides Advances/Loans/Credit to customers.

Answer 2

Answer ⤵

Characteristics of a bank are :-

✴️ Dealing with money -- banks deal with money of the public.

✴️ Individual / Firm /Company -- bank may be person , firm or a company.

✴️ Acceptance of deposits -- banks accepts deposits from the public.

✴️ Leading loans -- Banks lead loans to to industrial sector , agriculture sector, education.

✴️Payment and withdrawal -- Banks facilitates the customers to withdraw their deposits in the form of cheque or drafts.

✴️ Agency and utility services -- Banks provide various banking facilities to its customers.

✴️ Profit and service Orientation --A bank is a profit seeking institution having service orinted approach.

✴️ Ever Increasing Functions -- bank continously expand and diversity their functions, services and activities.

✴️ Connecting link -- banks act as connected link between the depositors and borrowers.

✴️ Banking business -- The main activity of the bank is banking business that is accepting deposits from the customers and leading the same to those who need money.

✴️Name identity -- Banks always add 'bank' to their names.

$\large\mathcal\colorbox{pink}{{\color{b}{hope \: it \: helps \: uh}}}$