Skip to content
- A bank is a place where one can deposit or withdraw money.
- They are financial institutions that have been certified by the government.
- The banking system has existed for thousands of years in some form.
- However, modern banks came to exist after the industrial revolution.
- Banks store people’s money and allow them to access it whenever they need.
- Banks also give out loans to people when they need it.
- Banks give out things like credit cards and debit cards to make banking easier.
- People can withdraw their bank money from ATMs.
- The Bank of Hindustan was the first bank established in India in 1770.
- Today, some popular banks in India include the State Bank of India, Indian Bank, Punjab National Bank, Bank of Baroda, etc.