Question

What is the difference between bank and financial institutions.​

Answer 1

Answer:

Banking institution means a bank or trust company, including the Custodian, any Subcustodian or any subsidiary or Affiliate of the Custodian.

Financial institution as the name suggests is the foundation, which conducts financial activities like loans, deposits and investment. Every individual generally deals with financial establishment on regular basis. Start from deposit of money to taking loans and exchange of currency is conducted these institutions.

Answer 2

Answer:

A bank is known as financial intermediaries that act as middleman between depositors or suppliers of funds. The main tasks of banking financial institutions are accept deposits and then to use those fund to offer loans to its customers

Explanation:

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