Tuesday, February 24, 2009

Bank and it role in economy

Do you know bank ?

If not , I explain about bank . Bank is an organisation which deal in money . It is helpful for promoting save . It also provide loan for personal and business use . Thus Bank receives money and pays by honouring cheques of persons from whom or on whose account he receives it .

Bank may also be defined as an institution which collects surplus funds from the public , safeguards them , and makes them available to the true owner required and those who are in need of funds and can provide security .

A bank is an artificial person which holds itself out to receive from the public deposits payable on demand or cheque.

Above is simple explanation of bank , but , if we study any bank deeply , we find that bank is a creator of economy of any country . With good activation of bank , any country can not develop their economy .

Banks are hand which pick country and face every economic problem. Bank can support a dead company by providing loan . Banks can also support farmers by providing them loan without any security . India is the land of village and farms . So , it is very necessary for bank to give more loan to farmers and never take interest from them .

Bank is back- bone of country . If they leave to do scams , they can easily develop any country . It is the duty of bank manager to look the society and provide them loan for self-employment.

By doing this bank can help to unemployed persons and decrease unemployment .

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