Role of Banks in the Economic Development
Bank:
An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects checks,drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks.
Features of Bank:
• Money Dealing
• Acceptance of Deposit
• Grant of loan and advances
• Payment and withdrawal of deposits
• Transfer of funds
• Portfolio management
• Foreign Exchange dealing
Banking;
In general terms, the business activity of accepting and safeguarding money owned by other individuals and entity and then lending out this money in order to earn a profit.
Banking is a business of accepting deposits and lending money. It is carried out by financial intermediaries, which performs the functions of safeguarding deposits and providing loans to the public.
In other words, Banking means accepting for the purpose of lending or investment of deposits of money from public repayable on demand and can be withdrawn by checks, draft order and so on.
Banking Company:
Any company, which transacts the business of banking
Banking System:
Banking System is a principal mechanism through which the money supply of the country is created and controlled. The banking system enables us to understand Commercial Banks, Secondary Banks, Central Banks, Merchant Bank or Accepting Houses and Discount Houses but to exclude the Saving Banks and Investment and other intermediaries.
Number and types of Banks: The number of banks in all now stands at 49 in Bangladesh. Out of the 49 banks, four are Nationalized Commercial Banks (NCBs), 28 local private commercial banks, 12 foreign banks and the rest five are Development Financial Institutions (DFIs).
Sonali Bank is the largest among the NCBs while Pubali is leading in the private ones. Among the 12 foreign
An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects checks,drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks.
Features of Bank:
• Money Dealing
• Acceptance of Deposit
• Grant of loan and advances
• Payment and withdrawal of deposits
• Transfer of funds
• Portfolio management
• Foreign Exchange dealing
Banking;
In general terms, the business activity of accepting and safeguarding money owned by other individuals and entity and then lending out this money in order to earn a profit.
Banking is a business of accepting deposits and lending money. It is carried out by financial intermediaries, which performs the functions of safeguarding deposits and providing loans to the public.
In other words, Banking means accepting for the purpose of lending or investment of deposits of money from public repayable on demand and can be withdrawn by checks, draft order and so on.
Banking Company:
Any company, which transacts the business of banking
Banking System:
Banking System is a principal mechanism through which the money supply of the country is created and controlled. The banking system enables us to understand Commercial Banks, Secondary Banks, Central Banks, Merchant Bank or Accepting Houses and Discount Houses but to exclude the Saving Banks and Investment and other intermediaries.
Number and types of Banks: The number of banks in all now stands at 49 in Bangladesh. Out of the 49 banks, four are Nationalized Commercial Banks (NCBs), 28 local private commercial banks, 12 foreign banks and the rest five are Development Financial Institutions (DFIs).
Sonali Bank is the largest among the NCBs while Pubali is leading in the private ones. Among the 12 foreign