Question

Write a paragraph on Banks in 150 words expressing the  usual activities in a bank.​​

Answer 1

The word ‘bank’ was borrowed from European languages, literally meaning ‘bench’ or ‘counter’. Banking system evolved in the 14th century in Italy. By the 18th century, merchants of London had started storing their gold with goldsmiths who charged a fee and issued receipts. A banker is a person who discharges his duties in the form of operating customer accounts and, paying and collecting cheques.Banks borrow money by accepting the l money deposited in current accounts, by accepting term deposits and issuing securities on banknotes and bonds. They also create pew capital by giving loans. Banking activities can be for retail, in which the customers and small businesses are involved directly with the bank; for businesses for large corporate houses and for investments.

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