![]() ![]() In order to achieve this, banks charge higher interest rates on loans and other debt they issue to borrowers than accountholders. The goal is to earn profit: Just like any other business, the goal is to earn profits for its stakeholders. This process creates market liquidity that creates money and keeps the supply chain going. It provides credit opportunities: These financial institutions lend short-term cash (deposits) to others for long-term debt (loans) such as house mortgages, car loans, business loans, etc. Safe deposit boxes are commonly known as locker services.īanks of a country are usually regulated by a central bank or the national government, in India all the banks are regulated by the central bank, the Reserve Bank of India (RBI). These institutions may also give economic assistance such as: Bank definition goes to a financial institution authorized to accept deposits and provide credits. As such, they play a vital role in the economy by providing essential services both to consumers and businesses. ![]() But what is a bank exactly? Or how does it operate? We are here to answer all these questions for you.Īs a financial services provider, banks provide a safe place to store your cash. You need to store your cash you choose a bank, you need a loan you choose a bank, you need to transfer the money you do it via bank. ![]()
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