Important points on Banks
- The bank which accept deposit from people and give credit.
- Modern banking system evolves in Italy in the 14th century.
- Banks gives short term and long term loans to individuals, groups, company etc.
- Banks have a lot of functions like Saving accounts, Recurring deposits, fixed deposit, mutual funds, time deposit etc. It issue credit cards, debit cards, cheque books etc
- The Bank of England is one of the oldest banks in the world.
- There are two types of banks: commercial and investment bank.
- Commercial banks give small loans to individuals, groups etc
- Investment banks provide big investment to corporates, underwriting etc.
- India has public banks owned by the government and private banks owned by individuals.
- The Reserve Bank of India is the central bank of India. RBI has the power to issue currency notes and regulate other banks.
Ten lines on banks in English. These points can be added in your essay, speech or presentation in schools, colleges and in any other works.