Banks
are one of the Financial Institution and during last few decades the Banking
sector has grown tremendously. Due
increase in financial transaction and erosion of the value of money, it has
impossible to avoid dealing with the Banks. Banks rely on the deposits from the
customers and the money so collected from the customers or also known as
depositors is used for lending to other customers, who invest the money in the
economy and give Bankers a rate of return at the rates prescribed by the
banks. The Banks give a portion of
interest collected to the depositors.
Most of the countries have their own Banking systems and Regulators for
Bank to avoid fraud. Due to information revolution, and increased transactions
of money along with increase in risk factors, Banks have become indispensable.
We find great innovation from the Banking sector like, ATM ( Automated Teller
Machines, Mobile Banking and Telephone Banking). Most of the banks provide
Credit Cards and Insurance products. This has helped the customers to save time
and botheration. We have National Banks, Co-operative Banks, Islamic Banks,
International Banks, Retail Banks and Commercial Banks etc.
TAGS
– Insurance, Credit Cards, Mobile Banking Telephone Banking, Depositors,
Lenders, Banks, ATM (Automated Teller Machines), Banks in India, Indian Banks, Banks in Saudi Arabia, Saudi Arabian Banks, Financial Institutions, National
Banks, Co-operative Banks, Islamic Banks, International Banks, Retail Banks and
Commercial Banks
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