Introduction, Evolution, Meaning of Banks
Assignment Lecture 1
Meaning and evolution of banks, Classification (Major Types) of Banks, and Monetary Policy.
A bank is a commercial organization functioning for profit. It accepts peoples' savings in the form of deposits and pays interest. In return, it ensures the safety of these deposits, lends money from these deposits to people who need money by charging them with interest and invests the surplus funds for development of the nation.