Banks are the financial treasures, the arteries of a country's economic system. A sound banking system in a country helps the country in speedy progress.Banks play an important part in modern times.They safeguard the money of the depositors, not only the money but their jewels, vessels and their precious things.They pay the depositors the interest for the money they have deposited and also helps them in with drawing their money.
They are lots of ways to withdraw your money from the bank. Nowadays we can withdraw our money even without direct drive to a bank 'cause we have ATM(Any Time Money) available and there are lots of things like credit and debit cards for money accessing. And to transfer money we can use the internet,its just like Zip-Zap work.Banks also allow special depositors to overdraw money.Banks have savings account and fixed deposit accounts to help the members to save money. They help pensioners to draw their monthly pensions from them.
What Do Banks Do?
- Banks lend money to government to carry out several projects.
- Rural banks help farmers and poor people to run small scale business and industries for some money live their life safe as deposited.
- Banks lend money to those who wants to build houses and plots and in return they get their interest from them
- Banks give cheque books to those who in need of a shortcut or an easy way to pay or give money to any third persons.
- Banks DD scheme helps million of people to send money to a certain address with better safety and low cost sending cost.
Banks In Rural Areas:
There are lots of branches of banks opened in rural areas to help the poor and needy people. The banks attract such poor people only by the schemes that banks introduce for the purpose of rural people, themselves.As they say villages are the backbone of our country , the banks help in such a way to add proteins and calcium's to the backbone to strengthen up the economic growth of our country.
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