Definition of Bank and Banking Regulation Act 1949

Definition of Bank and Banking Regulation Act 1949

Definition of Bank : 

1st Definition

A bank is a financial institution which accepts the deposit of money from the public for lending or, investment. Banks Play a very important role in the development of any economy by moralizing financial resources from the place. Where it is in surplus to the place where it is in required. Definition of Bank

2nd Definition

A Bank is an important role play in our economy financial inclusion.

Bank had played a crucial role in the economic development of same developing countries. Such as the US, UK & Most of the emerging country economy including India, Canada, Brazil, and Malesia. Definition of Bank

Today, Banks are important not just from the point of view of economic growth but also Financial stability

There are two essential features to declare any financial institution as a bank:

  1. Accepting cheque able deposit of money from the public.
  2. Lending & Investment Bank

Banking Regulation Act 1949

A banking company is a company which transacts the business of banking in India. 

Share This Post

5 Responses to "Definition of Bank and Banking Regulation Act 1949"

  1. I just couldn’t depart your website prior to suggesting that I really enjoyed the standard information a person provide for your visitors? Is gonna be back often in order to check up on new posts

    Reply

Post Comment