Question

List out the characteristics relating to bank transactions

Answer 1

hola here is your answer

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1) Dealing with money
2) Indivusal / firm / company
3) accepting of deposits
4) lending loans
5) payment and withdrawal
6) agency and utility service

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Answer 2

Hey mate

Here is your answer ⤵⤵⤵⤵⤵


Characteristics of a bank are

1) 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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