0
A Bank is a financial institution which is involved in borrowing and lending money. Banks take customer deposits in return for an annual interest payment. The bank then use the majority of these deposits to lend to other customers for a variety of loans.Following are main purpose of banks:
- Accepting Deposits
- Advancing Loans
- Discounting the bills of exchange
- Provide Cheap Medium of Exchange
- Safe Money Transfer
- Bill Payments
- Locker Services
- Investments
Work by:
Mamoon Aslam
mamon_aslam@Yahoo.com
03024890894
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What was the FDIC's purpose?
The purpose was to give money to the bank. It also had the purpose of getting people to put money on other banks that were more popular.
What is the purpose of the rural bank?
The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.
What describes the purpose of Federal Deposit Insurance Coporation?
to ensure that banks do not fail during an economic crisis
What's the purpose of a credit report?
To help banks determine if people should be given a loan or credit card
What is a thrift deposit?
An organization formed for the purpose of holding deposits for individuals; examples include savings banks and savings and loans.
What is tavian banks email address?
For what purpose?
What are the main purpose of having ATM?
For people who at work themselves when the banks are open, and can only get there after the banks are closed.
Should big banks profit from micro financing?
Banks are a business. They exist for the purpose of making a profit. That is what businesses do.
What were the most important purpose of early banks?
The lending of money.
What was the FDIC's purpose?
The purpose was to give money to the bank. It also had the purpose of getting people to put money on other banks that were more popular.
How do you find out effectiveness of saving schemes of banks?
this is regarding the resesrch purpose
What is the purpose of Federal Land Banks?
Banks complement the mission of the Federal Intermediate Credit Banks by offering long-term farm mortgage loans. The Federal Land Banks were created by the Federal Farm Loan Act of 1916
What is the purpose of the rural bank?
The goals of Rural Banks are to provide banking services to the rural/village population of India. Gramya banks or Grameen banks are banks in India that provide banking services for the rural population in India. There are a total of 32 Grameen banks in India.
For what purpose were Intermediate Investment Banks founded?
These banks were created to discount or buy short- and intermediate-term notes of agricultural business from commercial banks, savings and loans, and other financial institutions.
What is the purpose of two elevons?
The plane banks more sharply and more evenly with two.
What was the purpose of the federal reversed act?
to increase public trust in all banks-apex
What was the purpose of the bank holiday Roosevelt declared?
It let banks get reorganized and avoid falling.
