What is banking and what is the role of banking in an economy?

In simple words, Banking can be defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit. However, with the passage of time, the activities covered by banking business have widened and now various other services are also offered by banks. The banking services these days include issuance of debit and credit cards, providing safe custody of valuable items, lockers, ATM services and online transfer of funds across the country / world.

It is well said that banking plays a silent, yet crucial part in our day-to-day lives. The banks perform financial intermediation by pooling savings and channelizing them into investments through maturity and risk transformations, thereby keeping the economy’s growth engine revving.

Banking business has done wonders for the world economy. The simple looking method of accepting money deposits from savers and then lending the same money to borrowers, banking activity encourages the flow of money to productive use and investments. This in turn allows the economy to grow. In the absence of banking business, savings would sit idle in our homes, the entrepreneurs would not be in a position to raise the money, ordinary people dreaming for a new car or house would not be able to purchase cars or houses.

How Do the Banks Work / What is the most important element for a bank to survive:

Trust is the most important element for a bank to survive. People keep money in a bank only when they trust that it will be given back to them as and when they demand the same on at least on the date of maturity in case the same has been given in the shape of fixed deposits. Of course, there are other reasons also for which people prefer to keep money in a bank rather than keep at home in their own safe. They can earn some extra money when the money is kept in saving or fixed deposits. Moreover, they can make payment by issuance of cheques and need not carry money for their day to day needs.


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List of Entrance Exams conducted for Bank Recruitment
IBPS Common Written Exam for Clerical Recruitment for PSUs. Common Written Examination (CWE Clerk-IIV) is a pre-requisite for selection of personnel for Clerical cadre posts in the Public Sector Banks which is conducted online by the Institute of Banking Personnel Selection (IBPS) tentatively in November/ December.
What qualifications do you need to get a job in a bank?
Educational Requirements. Bank teller positions require a high school diploma or GED. A college degree isn’t necessary to find work, but a 2-year associate or 4-year bachelor’s degree in math, finance or business might help one get hired or promoted.
What are all the bank exams in India?
Here’s a list of the important banking competitive recruitment examination for 2018.
– NABARD Grade ‘A’ and ‘B’ Officer
– SBI Clerk
– RBI Grade B Officer
– IBPS Clerk
– IBPS RRB Officer Scale I
– IBPS RRB Office Assistant…
What is the work of a bank po?
Designation Probationary Officers holds (PO) in banks – The IBPS PO work profile includes holding the designation of an Assistant Manager (AM) on Probation. He is in Junior Management Grade-1 (JMG-Scale 1) Officer thus he is often called as Scale 1 Officer or Asst. Manager.
How can I study banking?
Steps to Become a Banker
Step 1: Earn a High School Diploma.
Step 2: Obtain a Bachelor’s Degree.
Step 3: Participate in an Internship.
Step 4: Complete an Investment Banking Program.
Step 5: Get Licensed.
Step 6: Consider Obtaining a Master of Business Administration (MBA)
What jobs are there in a bank?
Financial Analyst. Financial analysts advise individual bank clients and businesses on investments.
Bank Teller. A high school diploma is required to get hired as a bank teller.
Loan Officer. Employers generally require loan officers who work with individual customers to have a high school diploma.
Financial Manager.
Bank Exams: Pattern & Syllabus | SBI PO, IBPS PO, IBPS Clerk
IBPS PO: It is a common exam conducted by Institute of Banking Personnel Selection (IBPS) for 20 PSU Banks for the recruitment of Probationary Officers. … RBI Grade B Exam: Reserve Bank of India recruit officers (Grade B) through an All India exam.
Who are Eligible to Apply for IBPS Bank Exams In 2018 [Official Details]
Banking jobs have always attracted Indian youth for long.Though job security & secured salary are the primary reasons, relaxations offered in eligibility conditions also lures many to turn government employees.As most of you would want to know about bank exam qualification details, we are explaining here on Who are eligible to apply for bank jobs in the year 2018.
4 main banking job exams are scheduled for the year 2017-18 as per the official notification released by Institute of Banking Personnel Selection. They are:
RRB CWE for vacancies in Regional rural banks
Clerk CWE for Clerical cadre posts
PO CWE for Probationary officer posts
Specialist Officer CWE for specialist officer positions

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