Description

Introduction

'Bank' is an institution and 'banking' is an activity, an industry, and a sector. It

may be possible to trace the origin of the banking industry but not banking activity.

'Banking' as an activity is there from times immemorial.

'Banks' are financial organizations, formed primarily to receive deposits from

those who have surplus funds and to lend them to those who are in need of them. But

over a period of time, there is a phenomenal change in the number and nature of

financial services provided by the banks. At present banks are, important players in

financial markets offering a wide variety of financial services. Banks play an important

role in the development of the country by mobilizing and channeling the country's

financial resources