Question

what is banking and main feature of Banking class 10th SS​

Answer 1

Explanation:

Banking refers to the services that a bank provides which includes accepting deposits, lending funds, credit creation, etc. in order to earn profit...

A commercial bank refers to a financial institution that accepts deposits from the general public and extends loans for various purposes such as consumption and investment. it is engaged in a two way transaction. On one hand, it accepts deposits from the public and in return, it offers them a rate of interest on their deposits (borrowing rate for bank). On the other hand, it extends loans to the investors in return of which it charges a rate of interest on the amount lend (i.e. lending rate)...

Answer 2

Banking can be described as business activity to accept and protect money owned by others and then loan that money to make a profit. With the passage of time, however, banking operations have increased and banks now also provide numerous other services. Banking services include debit and credit cards, safe custody of valuable objects, lockers, ATM services and transfers of funds electronically around the globe.

Explanation:

The features of banking are

1. The banks accept public deposits and advance them as loans for the poor. Deposits can include different kinds of current accounts, fixed deposits, bonds, etc. The deposits would be approved on different terms and conditions.
2. Deposits made by the public (except fixed deposits) may also be withdrawn by cheques, drafts or otherwise, i.e. i.e., the bank issue and pay cheques. Generally, deposits may be withdrawn on demand.
3. The banks are the institutions which can create credit, that is, creation of additional money for lending. Therefore credit creation is the distinctive feature of banking.
4. Banks are commercial in nature and regarded as a commercial institution, since all banking functions are carried on with the objective of making profit.
5. In addition to  the primary functions of accepting deposits and lending money as loans, banks possess the character of an agent due to its varied agency services

To know more

As a customer of bank list out any five E-Banking services enjoyed ...

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