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Find and visit different business service centers in your area.

Let us study the business services in detail.

4.5 BANKING

The term Bank comes from the French word 'Banco' which means a 'bench'. In earlier days,
money-lenders used to display coins of different currencies in big heaps or benches or tables for the
purpose of lending or exchanging.

4.5.1 Meaning:
A bank is a financial institution which deals with deposits and advances and other related
services. Bank provides various services related to money or financial requirements of consumers.

As per The Indian Banking Regulation Act, 1949 banking company means "any company
which transacts the business of banking in India" and the word banking has been defined as "accepting
for the purpose of lending or investment of deposits of money from public, repayable on demand or
otherwise, and withdrawable by cheque, draft and order or otherwise. "

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