Paragraph on activites of bank in india. plz i need answer in 2 or 3 hours help..
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It is such bank that performs all types of banking activities and finance for industry and business. They collect savings from people and give loans when needs. They give loans for short term, medium term and long term. Majority of commercial banks in India are in the bank of the public.
Commercial banks are the single most important source of institutional credit in India. Modern commercial banking begins with the setting up of the first Presidency bank, The Bank of Bengal in 1806 in Calcutta. Two other Presidency banks were set up in Bombay and Madras in 1840 and 1894 respectively. They were amalgamated in Imperial bank in 1921.
the banks play an important role in mobilization of deposits and disbursement of credit to various sectors of the economy. A bank is the financial institution whose purpose is to recieve deposits and lend money to individuals and businesses, disburse payments, invest funds in securities for returns, and safeguard money.