BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Saving account
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Banking
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Current account
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All of the above
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Detailed explanation-1: -Individual Banking-Banks typically offer a variety of services to assist individuals in managing their finances, including: Checking accounts. Savings accounts. Debit & credit cards. Insurance*
Detailed explanation-2: -What is Banking as a Service? Banking as a service or BaaS allows non-banks to offer core financial services to their customers by integrating with banks via APIs. Non-banks (like fintech and even non-fintech businesses) build products on top of the traditional banking infrastructure.
Detailed explanation-3: -Banking is the business of protecting money for others. Banks lend this money, generating interest that creates profits for the bank and its customers. A bank is a financial institution licensed to accept deposits and make loans. But they may also perform other financial services.
Detailed explanation-4: -Banking falls under tertiary sector of the economy. It provides banking and its allied services to the people in their day to day life.