A BANK is a financial institution that accept deposits
It encourages new and small
from the public and creates credit.
Lending activities(Venture capital. helping fund
managers invest in high-tech and growth SMEs (small
and medium enterprises). can be performed either
directly or indirectly through capital markets
The international banking system is an enigma. There
are more than 30,000 different banks worldwide and
they hold unbelievable amounts of assets.
Today, banking can seem very complex, but originally,
the idea was to make life simpler.
11th century Italy was the center of
European trading. Merchants from all over the continent
met
to trade their goods. But there was one problem too
many currencies in circulation.
The dangers of traveling, counterfeit money,
and the difficulty of getting a loan
got people thinking. It was time for a new business
model. Pawn brokers started to give credit
to businessmen,
1. People keep their money in banks
and receive a small amount of interest.The bank takes
this money and lends it out at much higher interest
rates. It's a calculated risk, because some of  the lenders
will default on their credit. This process is essential for
our economic system because it provides resources for
people
to buy things like houses, or for industry to expand their
business
and grow.
DEVELOPMENT BANKS
Development banks are specialized financial
institutions. They provide medium and long-
term finance to the industrial and agricultural sector.
They provide finance to both private and public
sector. Development banks are multipurpose financial
institutions. It is essentially a development-oriented
bank.
Accordingly, the DVP It’s a primary object is to
promote economic development by promoting
investment and entrepreneurial activity in a
developing economy.
entrepreneurs and seeks balanced regional growth.
SAVING BANKS
A savings bank is a financial institution whose
primary purpose is accepting savings deposits and
paying interest on those deposits
They originated in Europe during the 18th century
with the aim of providing access to savings products to all
levels in the population.
They were set up by governments or by socially
committed groups or organisations such as with credit
unions. The structure and legislation took many different
forms in different countries over the 20th century.
The advent of Internet banking at the end of the 20th
century saw a new phase in savings banks with the online
savings bank that paid higher levels of interest in return
for clients only having access over the web.
RURAL BANKS
rural Bank can be defined as rural financial
institution bank or deposit taking
MFI(microfinance) that provides customized
financial services to rural communities. BUDGET.
Budget is a projection of the income and expenditure
from business activities of an institution in for a set
time period
EMPLOYEES COOPERATIVES/ SINKING FUND
Refers to a financial organization owned and
controlled by its member who can borrow at low
interest rates from a fund that they have saved as a
group.
This means that a sinking fund's only purpose
is the payment of that obligation and nothing
else
 CREDIT UNION

A credit union is a member-owned

financial cooperative, controlled by its members and
operated on the principle of people helping people,
providing its members credit at competitive rates as
well as other financial services

The primary purpose in furthering their goal of service

is to encourage members to save money. Another
purpose is to offer loans to members. In fact, credit
unions have traditionally made loans to people of
ordinary means. Credit unions can charge lower rates
for loans (as well as pay higher dividends on savings)
because they are nonprofit cooperatives. Rather than
paying profits to stockholders, credit unions return
earnings to members in the form of dividends or
improved services.

INSURANCE COMPANY

Insurance is a means of protection from financial loss.

It is a form of risk management, primarily used to
hedge against the risk of a contingent or uncertain loss