What Is A Bank?

A bank is an institution that accepts deposits of money from the public, which are repayable on demand and withdrawable by cheque. Such deposits are used for lending to others and not for financing its own business of any kind. The term lending includes both direct lending to borrowers and indirect lending through investment in open market securities. A sound banking system plays a pivotal role in the growth of a nation's economy. In India, the beginning of banking system dates back to 1881, when the first bank called as 'the Oudh Commercial Bank' was established. It was followed by the setting up of the 'Punjab National Bank' in 1894. Subsequently, a number of commercial banks came up in the country. The number of bank offices multiplied from 8,300 in July 1969 to more than 47,000 in June 1995. It substantially improved the overall availability of banking facilities in the country.

Career Scope in Print Media

Print media are lightweight, portable, disposable publications printed on paper and circulated as physical copies in forms we call books, newspapers, magazines and newsletters. They hold informative and entertaining content that is of general or special interest. They are published either once or da →

Association of South East Asian Nations (ASEAN)

Foundation Date : 8th August,1967 Headquarter : Bangkok, Thailand Member Countries: 10 About ASEAN The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of A →

What is Bitcoin?

In 2009, an unknown programmer by the name of Satoshi Nakamoto put forward a whitepaper that proposed a creation of new form of digital currency - cryptocurrency. Cryptocurrency functions the same way as regular currencies do in that its used as a means of exchange, unit of account and a store of va →

Medical Council of India (MCI)

Headquarter: New Delhi Function of the Organization: The Medical Council of India was established in 1934 under the Indian Medical Council Act, 1933, now repealed, with the main function of establishing uniform standards of higher qualifications in medicine and recognition of medical qualifications →

  • Contribute to our Site

    If you contribute your content to our site. Please mail us your content to editor@onlinegk.com

Follow us on Social Media

Follow us on Facebook
Follow us on Google Plus
Follow us on Twitter