list out the characteristics relating to bank transaction
Answers
Answer:
Hi friends
Explanation:
Dealing with money -- banks deal with money of the public.
2) Individual / Firm /Company -- bank may be person , firm or a company.
3) Acceptance of deposits -- banks accepts deposits from the public.
4) Leading loans -- Banks lead loans to to industrial sector , agriculture sector, education.
5) Payment and withdrawal -- Banks facilitates the customers to withdraw their deposits in the form of cheque or drafts.
6) Agency and utility services -- Banks provide various banking facilities to its customers.
7) Profit and service Orientation --A bank is a profit seeking institution having service orinted approach.
8) Ever Increasing Functions -- bank continously expand and diversity their functions, services and activities.
9) Connecting link -- banks act as connected link between the depositors and borrowers.
10) 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.
11) Name identity -- Banks always add 'bank' to their names.
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Answer:
Dealing with money,
Acceptance of deposits.
Lending loans.
Payment and withdrawal.
Agency and Utility services,
Profit and Service orientation.
Connecting link.