A bank is also known as a financial institution. The Financial institution that accepts deposits from the people. Banks are created for human purposes. Banks are highly regulated in many countries. The concept of banking is begun in the ancient period. At that time people are affected by famine. They did not have the money to lead their life. At that time government started a bank system to help people. The Banking system should help people. A Banking system should provide money for every business. People have the talent to start a business but they did not have money support. For those people, they provide the money. If you want to know about the details of the bank they should visit the AFZA . Many poor people should have a loan for their agriculture business.
The Banking system should announce the interest system. Poor people did not earn that much money. So they have loans from the banking system. Loans are provided for those who have accounts in banks. Everyone should open accounts in banks. Someone deposit and withdraw the money in banks. Many companies have money transactions through this bank. The Banking system should follow the rules and regulations strictly. Every human should follow the banking system. Banking systems give loans to the people. The person who creates an account in the bank they get a separate bank account number. The Bank manager should provide the bank book to the people. The bank should provide interest to the depositors. Many people should get loans for their personal use. Someone should get loans for their business use. Banks system also provides an ATM card and Cheque to the customers. They used these cards for their urgent work and emergency work. A Banking system is benefits for the people.
Types of the banking system
There are many types of banking systems that are followed. They are
- Branch banking is followed in a trade location.
- ATM banking is related to remote from the bank.
- Mail banking is those who accept cheque leave throughout the mail system.
- Online banking is performed through the internet and multiple types of transactions.
- Mobile banking is with one’s transportable phone to manner banking communication.
- Telephone banking allows customers to conduct transactions over the telephone.
- Video banking is performing transactions through video conference.
These are all related to the banking system. A bank should produce proceeds in an assortment of different conduct including concentration, contract fees, and monetary advice. Bank activities can be divided into many parts. Retail banking is dealing directly with the person with an individual or small business. It is useful to lead business for the small businessman also. Business Banking provides a loan to the market business.
Corporate business is useful to the businessman. It is related to direct at a large business. Private banking is useful to a normal person. It provides wealth management service to poor people. It is related to the service. Because many people should suffer from famine so they need money from the banking system. For those people, they create a private banking system. It is useful to people. Investment banking is relating to activities on the financial markets. Most banks are profit-making. Many banking systems are related to the profit-based system. Due to this banking system, many people should be benefited. It may give benefits to poor people also.