Question

Q. 1. What is meant by the term
'Banking?

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Answer 1

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Banking is an industry that handles cash, credit, and other financial transactions. Banks provide a safe place to store extra cash and credit. They offer savings accounts, certificates of deposit, and checking accounts. Banks use these deposits to make loans. ... Banking is one of the key drivers of the U.S. economy.

Answer 2

Explanation:

Banking is defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to conduct economic activities such as making profit or simply covering operating expenses. Investment banks gear their services toward corporate clients.