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Meaning of Bank
A Bank is a commercial institution which performs various financial activities e.g. accepting and handling deposits of its customers. It is a body of persons who carry on the business of banking. Banks are institutions that create money and give out loans to people. In summary, a bank is a place where money and other valuables like a will, jewelry, etc. are kept.
Types of Banks
- Central Bank
- Commercial Bank
- Merchant Bank
- Savings Bank
- Development Bank
- Agricultural Bank
- Mortgage Banks
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