BANKING AFFAIRS

Detailed explanation-1: -A bank is a financial institution licensed to receive deposits and provide other services such as mortgage loans and individual retirement accounts. A chartered bank is a financial institution in the business of providing monetary transactions, such as safeguarding deposits and making loans.

Detailed explanation-2: -financial institution. Any organization or business that provides services related to money.

Detailed explanation-3: -A financial institution is an entity that facilitates the monetary transactions between two or more parties. Well known financial institutions include banks, investment organizations or dealers, and insurance organizations. These institutions deal with deposits and investments from customers.

Detailed explanation-4: -Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions.