Question

What is banking and main features of banking 3 points?

Answer 1

BANKING

Banking is an industry that handles cash credit and other financial transactions. Banks provide a safe place to store extra cash and credit. They offered savings account, certificate of deposit, and checking accounts... bank loan and credit mean families don't have to save up before going to college or buying a house.

Main Features Of Banking:

1. It may be an individual/firm/company.
2. It is a profit or service oriented institution.
3. It deals with money.
4. It provides advances/loans/credit too customers.

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