what is bank and explain characteristics of bank
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According to Banking Encyclopedia, Bank is a financial institution which receives deposits from the public and lends them for investment purpose i.e., deposits of money and advances of the Main function of banks, but in the era of globalization banks indulges themselves in many activities like Insurance, Mutual Fund ...
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Characteristics of a Bank / Features of Banking
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.
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