Banks Facilitate the Flow of Money Through the Economy

Banks are important entities in the financial market and offers investment funds. These institutions are highly regulated by the government bodies. It acts as a payment agent by guiding the assurance or current accounts for the customers, paying cheques drawn by the customers on the bank as well as collecting cheques deposited to customers’ current accounts. Banks accepts the funds deposits on the current account for borrowing money.

Moreover bank-accounts are considered to be essential by most businesses, individuals, associations and governments. It facilitates the flow of money through the economy. For this, savings are pooled to mitigate the risk added to provide funds for loans. Lastly, the elementary means for depository institution is to develop revenue.

Actually, the banking terminology is law based, it is a contractual analysis between the bank and the customers, an entity who agrees to conduct an account. For instance, there is a big queue of private and public sector lenders such as ICICI, Axis Bank, HDFC, State Bank of India, (SBI), Standard Characters, ABN AMRO Bank, Bank of Baroda (BOD) and many more.

The basic business function of banking carries out:

conducting current account for the customer

paying cheque drawn on him

collecting cheque for his customers

ABN AMRO India, a global bank for the businesses and personal financial needs offers the comprehensive range of banking products, from investment and retail banking to private and asset management banking. ABN AMRO offers an innovative product range designed around one’s need. With its local intimacy in to the domestic bank along with the support and resource of the global network ABN AMRO Bank extends world class products and services. Besides, it creates the best value, and move with the phrase- “making more possible”.

Seeking the comfort of an individual, it offers greater convenience and maximum utility. The organization even brings the wide spectrum of value-added services. It is a one-stop financial solution provider as well as it has its own internal and external platforms to execute equity, debt, mutual funds, insurance, property and foreign exchange transactions.

ABN AMRO Bank’s Net Banking extends to access your account from wherever you are. As long you are Online you can:-

Inquire on your balances/ transactions

Easy fund transaction facility to ABN AMRO accounts or any other bank accounts

Direct apply and invest in mutual funds

Facility of open fixed deposits

24*7 accessibility to pay your bills

Get a cash and draft delivery and pick up, whereas, including many other services too.

Likewise, Axis Bank, the former UTI Bank, holds a special position in the Indian capital market and has encouraged many lending financial institutions in the country. Though, the bank is looking forward into the new area of business as on to non-life insurance. Complying the removal of the entry load on mutual funds and restriction on charges on life insurance policies, Axis Bank is found to be an emerging player in distribution game. Currently, it conducts its operations through more than 700 branches and ancillary extension counters. Its higher weightage on corporate banking leads to diversification of credit risk.

Ambertemplates Banner

Source by Addi Vardhaman

Related posts