What is banking: Banking encompasses all financial transactions

Banking encompasses all financial transactions and services a bank provides to its customers. These services include receiving deposits, offering loans, facilitating financial transactions, and providing tools like safe deposit boxes, currency exchange, and wealth management. Banking is the business of protecting money for others and lending it to generate interest that creates profits for the bank and its customers. What is Banking? Banking is directly or indirectly connected with the trade of a country and the life of each individual. It is an industry that manages credit, cash, and other financial transactions. In banking, the commercial bank is the most influential institution for any country’s economy or for providing any credit to its customers. In India, a banking company is responsible for transacting all the business transactions including withdrawal of cheques, payments, investments, etc. In ... Bank is a lawful organization which accepts deposits that can be withdrawn on demand. It also tends money to individuals and business houses that need it.