2. • A bank is an institution that is set up
for borrowing, issuing, exchanging ,
taking deposits, safeguarding, or
handling money under the laws and
guidelines of the country or state in
which it is located.

5. • Saving banks are established to create saving
habit among the people. These banks are helpful
for salaried people and low income groups. The
deposits collected from customers are invested in
bonds, securities, etc. At present most of the
commercial banks carry the functions of savings
banks.

7. • Commercial banks are established with an
objective to help businessmen. These banks collect
money from general public and give short-term
loans to businessmen by way of cash credits,
overdrafts, etc. Commercial banks provide various
services like collecting cheques, bill of exchange,
remittance money from one place to another
place.

9. • Development banks collect cash by issuing shares
& debentures and providing long-term loans to
industries. The main objective of these banks is to
provide long-term loans for expansion and
modernisation of industries.

11. • Land Development banks are also known as
Agricultural Banks because these are formed to
finance agricultural sector. They also help in land
development.

13. • Indigenous banks means Money Lenders and
Sahukars. They collect deposits from general public
and grant loans to the needy persons out of their
own funds as well as from deposits. These
indigenous banks are popular in villages and small
towns. They perform combined functions of
trading and banking activities. Certain well-known
indian communities like Marwaries and Multani
even today run specialised indigenous banks.

15. • Every country of the world has a central bank. In
India, Reserve Bank of India, in U.S.A, Federal
Reserve and in U.K, Bank of England. These central
banks are the bankers of the other banks. They
provide specialised functions i.e. issue of paper
currency, working as bankers of government,
supervising and controlling foreign exchange. A
central bank is a non-profit making institution. It
does not deal with the public but it deals with
other banks. The principal responsibility of Central
Bank is thorough control on currency of a country.

17. • Co-operative Banks generally give credit facilities
to small farmers, salaried employees, small-scale
industries, etc. Co-operative Banks are available in
rural as well as in urban areas. The functions of
these banks are just similar to commercial banks.

19. • Consumers bank is a new addition to the existing
type of banks. Such banks are usually found only in
advanced countries like U.S.A. and Germany. The
main objective of this bank is to give loans to
consumers for purchase of the durables like Motor
car, television set, washing machine, furniture, etc.
The consumers have to repay the loans in easy
installments.

21. • Recently, one of my colleagues had gone to ICICI
bank to deposit a sum exceeding Rs.20,000/- and
he was advised by the bank to use ‘Quick Cash
Deposit’ envelop to deposit cash over the counter.
As per this system, the depositor has to put the
cash inside a printed envelope(provided by the
bank) and write the particulars like denomination,
account number etc. in the space provided on the
envelope. The envelope has to be sealed and
deposited to the counter. The bank official will
receive the envelope without checking the
currency inside it.
CONTINUE...

22. • My colleague was told that the bank is not taking
cash deposit over the counter and instead they
have introduced this system for cash deposit and
all the customers have to go by this system only.
This would mean that the customer will be
depositing cash at his own risk without the bank’s
confirmation of a valid and correct deposit.

24. • Use an instant cash card. To do this, you need to
already have your debit card set up with your bank
to use at an ATM.
• Insert your card and enter your PIN number. If you
don't have one, call your bank beforehand and
request one. You will not be able to withdraw
money without a PIN.
• Follow the on-screen instructions. If you have more
than one account (like both checking and savings)
you need to specify which account you want the
money to come from. Be sure to push the savings
button. Then specify how much money you want to
withdraw.

26. • The first thing that you have to do to get a bank
loan is to apply for one. This is a process that is
going to require a lot of information on your part.
First of all, you have to know what kind of loan
you are looking at, and how much money you are
going to need. Next you have to be sure that you
are going to be able to pay back the loan, so you
have to know how much you want to make
payments for. Also, you have to be able to tell the
bank what you need the money for, how much
money you need, and how you are going to pay
them back.
CONTINUE…

27. • The process of getting a bank loan can take a lot of
time, and it can be very frustrating, but it is the
best way to do it. If you get loans from other
places, you might run into trouble with raised
interest rates, extra fees, or even with money
being demanded from you that you should not
have to pay. Banks are reputable organizations
that can afford to loan you money and that will
always follow the rules of commerce. If you go
with a bank loan, there are going to be rules and
regulations that you will know about ahead of
time and that cannot be broken.