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- Dictionarybanking/ˈbaŋkɪŋ/
noun
- 1. an embankment or artificial bank: "I climbed down the banking and took a photograph"
- 2. the use of a second locomotive to provide additional power for a train ascending an incline: British "four engines of this class are used for banking"
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Banking. Banking refers to the system of financial institutions, such as banks and credit unions, that provide various financial services to individuals, businesses, and governments. Banking services mainly include accepting deposits, lending money, facilitating transactions, and offering various financial products like savings accounts, loans ...
Jan 3, 2023 · Bank Definition. Banking Company is one which transacts the business of banking which means the accepting for the purpose of lending or investment of deposits money from the public repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise. – Indian Banking Companies Act.
Sep 21, 2017 · Definition of a Bank. A bank is a financial institution which performs the deposit and lending function. A bank allows a person with excess money (Saver) to deposit his money in the bank and earns an interest rate. Similarly, the bank lends to a person who needs money (investor/borrower) at an interest rate. Thus, the banks act as an intermediary between the saver and the borrower.
Jul 16, 2024 · bank, an institution that deals in money and its substitutes and provides other money-related services. In its role as a financial intermediary, a bank accepts deposits and makes loans. It derives a profit from the difference between the costs (including interest payments) of attracting and servicing deposits and the income it receives through ...
Oct 21, 2021 · Definition and Examples of Banking. A Special Type of Bank. Notable Happenings. Photo: The Balance / Lara Antal. Definition. Banking is an industry that handles cash, credit, and other financial transactions for individual consumers and businesses alike. Banking provides the liquidity needed for families and businesses to invest in the future, and is one of the key drivers of the U.S. economy.
The meaning of BANKING is the business of a bank or a banker. How to use banking in a sentence.
Mar 28, 2023 · Bank: A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services, such as wealth management, currency exchange and safe deposit boxes ...
BANKING definition: 1. the business of operating a bank: 2. the activity of managing the money in your bank accounts…. Learn more.
Banking definition: the business carried on by a bank or a banker. . See examples of BANKING used in a sentence.
E-banking It is the method by which the customer conducts transactions electronically via the internet. Some of the examples of e-banking are managing deposit account, online fund transfer, ATM, electronic data interchange, etc. Benefits It provides 24 hours and 365 days of banking services. The load on branches can be reduced by having a centralised database for faster processing. Customers can make a transaction from anywhere like the home office market, etc. It includes recording of every ...
