why do we have banks? what are the services offered by the banks? what is the main source of income for the bank?
Dear Student
Please find below the solution to the asked query:
1. People share a part of their income in the form of deposits in banks. They feel that their money is safe in banks. For these deposits, banks pay an amount as interest to the deposits made by people who have a bank account
2. The services rendered by banks are provision of loans, ATM card for easy withdrawal of money by people, issue of cheque books to facilitate depositors etc
3. The main source of income for the banks are deposits from people.
Hope this information will clear your doubts about this topic
If you have any more doubts just ask here on the forum and our experts will try to help you out as soon as possible
Regards
Please find below the solution to the asked query:
1. People share a part of their income in the form of deposits in banks. They feel that their money is safe in banks. For these deposits, banks pay an amount as interest to the deposits made by people who have a bank account
2. The services rendered by banks are provision of loans, ATM card for easy withdrawal of money by people, issue of cheque books to facilitate depositors etc
3. The main source of income for the banks are deposits from people.
Hope this information will clear your doubts about this topic
If you have any more doubts just ask here on the forum and our experts will try to help you out as soon as possible
Regards