Digital Banking System
Chapter 1
Introduction
1.1) Introducing of Banking Managment :
It is generally said that the word “BANK” has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. A bank is a financial institution which deals with deposits and advances and other related services. It receives money from those who want to save in the form of deposits and it lends money to those who need it. Definition of a Bank is, Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out on customer's order."There are 11 parts of banking,they are given below_Dealing in Money. Bank is a financial institution which deals with other people's money i.e. money given by depositors.
A banking managment may be a person, firm or a company. A banking company means a company which is in the business of banking.A bank accepts money from the people in the form of deposits which are usually repayable on demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It also acts as a custodian of funds of its customers. A bank management lends out money in the form of loans to those who require it for different purposes.A bank managment provides easy payment and withdrawal facility to its customers in the form of cheques and drafts, It also brings bank money in circulation. This money is in the form of cheques, drafts, etc. A banking managment provides various banking facilities to its customers. They include general utility services and agency services A banking managment is a profit seeking institution having service oriented approach.. Banking is an evolutionary concept. There is continuous expansion and diversification as regards the functions, services and activities of a bank managment.A bank acts as a connecting link between borrowers and lenders of money. Banks collect money from those who have surplus money and give the same to those who are in need of
Introduction
1.1) Introducing of Banking Managment :
It is generally said that the word “BANK” has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. A bank is a financial institution which deals with deposits and advances and other related services. It receives money from those who want to save in the form of deposits and it lends money to those who need it. Definition of a Bank is, Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out on customer's order."There are 11 parts of banking,they are given below_Dealing in Money. Bank is a financial institution which deals with other people's money i.e. money given by depositors.
A banking managment may be a person, firm or a company. A banking company means a company which is in the business of banking.A bank accepts money from the people in the form of deposits which are usually repayable on demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It also acts as a custodian of funds of its customers. A bank management lends out money in the form of loans to those who require it for different purposes.A bank managment provides easy payment and withdrawal facility to its customers in the form of cheques and drafts, It also brings bank money in circulation. This money is in the form of cheques, drafts, etc. A banking managment provides various banking facilities to its customers. They include general utility services and agency services A banking managment is a profit seeking institution having service oriented approach.. Banking is an evolutionary concept. There is continuous expansion and diversification as regards the functions, services and activities of a bank managment.A bank acts as a connecting link between borrowers and lenders of money. Banks collect money from those who have surplus money and give the same to those who are in need of