Скачать или смотреть bank its function and services||banking system| State bank of Pakistan||Urdu/Hindi|punjab university

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A bank is a financial institution that offers a variety of products and services to its customers. Its primary functions and services can be categorized into several key areas:

Functions of a Bank
Accepting Deposits:

Savings Accounts: Customers can deposit their money and earn interest over time.
Current Accounts: Designed for frequent transactions, often without interest, suitable for businesses and individuals.
Fixed Deposits: Money is deposited for a fixed term with a higher interest rate.
Providing Loans and Advances:

Personal Loans: For individual needs such as buying a car, home renovation, or other personal expenses.
Business Loans: To support business activities, including working capital, expansion, and equipment purchase.
Mortgages: Long-term loans secured by real estate property.
Credit Creation:

Banks create credit through lending, which increases the money supply in the economy.
Payment and Settlement Services:

Electronic Funds Transfer (EFT): Transfer of funds between accounts electronically.
Cheque Clearing: Process of transferring money based on written cheques.
Payment Gateway Services: Facilitating online payments for e-commerce.
Foreign Exchange Management:

Providing currency exchange services for international travel, trade, and investment.
Offering foreign currency accounts and remittance services.
Investment Services:

Wealth Management: Personalized financial planning and investment advice.
Mutual Funds: Allowing customers to invest in diversified portfolios managed by professionals.
Brokerage Services: Buying and selling of stocks and other securities on behalf of customers.
Services Provided by Banks
ATM Services:

24/7 access to cash withdrawals, balance inquiries, and other basic banking transactions.
Online and Mobile Banking:

Internet-based platforms allowing customers to manage their accounts, transfer funds, pay bills, and more from anywhere.
Credit and Debit Cards:

Credit Cards: Allowing customers to borrow funds for purchases up to a certain limit.
Debit Cards: Directly linked to customers' bank accounts for purchases and ATM withdrawals.
Financial Advisory Services:

Professional advice on investment, retirement planning, tax planning, and estate planning.
Insurance Products:

Offering various insurance products, including life, health, and property insurance, often through partnerships with insurance companies.
Safe Deposit Lockers:

Secure storage facilities for customers to keep valuable items and documents.
Merchant Services:

Solutions for businesses to accept payments via credit/debit cards and other electronic methods.
Corporate Banking:

Specialized services for large corporations, including cash management, trade finance, and treasury services.
Trade Finance:

Supporting international trade through services like letters of credit, trade credit insurance, and export/import financing.
Government Services:

Handling various government-related transactions such as tax payments, pension disbursements, and social security payments.
Role in the Economy
Financial Intermediation:

Connecting savers and borrowers, facilitating the flow of money in the economy.
Monetary Policy Implementation:

Acting as intermediaries for central banks to implement monetary policy by adjusting interest rates and controlling the money supply.
Economic Development:

Supporting economic growth by providing essential financial services that help businesses expand and individuals invest in education, housing, and entrepreneurship.
Banks play a crucial role in the financial stability and growth of economies by providing essential services that facilitate trade, investment, and savings.
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