Banks as Safe Custody
Safe custody services are offered by banks to provide a secure place for customers to store important items that they do not need to access frequently. Customers can store many types of items in safe custody like a bank including important documents like wills, property deeds, and contracts, as well as valuable items like jewelry, precious metals, and artwork. Securities like stocks, bonds, and mutual fund certificates can also be held in safe custody with a bank. Banks may charge fees for safe custody services which can vary depending on the size and value of the items stored and the length of time they are held in custody.
Funds to Organizations
Banks play an important role in promoting economic development by providing funds to organizations. By providing funding to businesses and other organizations, banks help to create jobs, stimulate investment, and contribute to overall economic growth.
Role of Banks in Economy of India
Bank plays an important role in the economic development of the country, without a sound effective banking system, no country can have a healthy economy. It is a financial institution that performs several functions like accepting deposits and lending loans. Banks play the most important role in connecting those who have capital with those who need capital.
Table of Content
- Role of Bank in the Economy of India
- Banks as Safe Custody
- Loans by Banks
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