A single day of economic life could not function without banks.our daily economic life has become easier by the blessing of banking system.
A.Banks are where people can safely deposit their savings,which banks then pay interest on.If there were no banks people would have to store and protect their savings themselves,which would involve major risks.Bank lends money from people and companies.If some people or companies are unable to repair their loans,the bank absorb this losses and savers would not be affected.
B.Banks issue loans to both people and companies.It is very difficult for people to buy a home or start bunsiness or companies investments without bank contributions.Banks are provided various types of loan and advance such as home loan,car loan,salary loan,crops loan,cash credit,SOD,project loan.SME etc.
C.Most of Bank are now providing mobile banking service,internet banking,ATM,SWIFT transfer,RTGS,BEFTN,clearing service,SMS alert,etc.Which have connect all typies people.The people of remote area can easily banking facility and make transaction instantely.
D.Bank are processing more card payament,transfer,direct debits,ATM,credit card, master card payement system,apps which popularity is growing up.Now a days people can purchase online ticket,shopping,E-business through banking instruments.
E.Corporate social responsibility(CSR) practices by banks not only improve their own standards but also affect the social responsibility.According to the policy, the CSR activities are performed in the following field.
1.Education and Research.2.Health and Treatment.3.Proverty reduction.4.History,Culture,and sports.5.Information technology.6.Natural Calamity.7.Protection of Environment.
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