Question

what is banking and main features of banking

Answer 1

Answer:

Banking refers to the process of money tranfers from and between bank and the clients. Banking invloves loans, credit facilities and other financial performances.

Features of Banking.

a) Profit oriented.

The sole aim of any business institution is profit making. The transaction charges accumilate to ensure increase in the funding process.

b) They provide loans and credit facilities to the clients. This ensures continued business between the parties in the banking process.

C) Money transfer oriented

Banks main focus is on cash transaction which involves depositing and withdrawal of cash through various money agents.

Answer 2

Answer:

Banking refers to the process of money tranfers from and between bank and the clients. Banking invloves loans, credit facilities and other financial performances. Features of Banking. ... Banks main focus is on cash transaction which involves depositing and withdrawal of cash through various money agents.