wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

What is meaning of Banking?

Open in App
Solution

A banking company in India is the one which transacts the business of banking which means accepting, for the purpose of lending and investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheques, draft, order or otherwise. In simple terms, a bank accepts money on deposits, repayable on demand and also earns a margin of profit by lending money.


flag
Suggest Corrections
thumbs-up
10
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Business Services - Banking
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon