UNIT-1 BANKING TRANSACTION ● Banks are developed 200 years ago the term of bank related to financial transactions ● The term bank is derived from Italian word and French word. Italian word Banco , French word Banque . It means money exchange table ● The company which transact the business with Finance is called Bank. It accepts deposits lends money saves customers money. ● The services of bank is called banking Characteristics: ● Dealing with money ● Individual/ firm/ company ● Acceptance of deposits ● Lending loans ● Payment and withdrawal ● Agency and utility services ● Profit and service oriented ● Ever increasing functions ● Connecting link between depositor and borrower ● Banking business ● Name identity Functions of bank: ● Accepting deposits from public and others ● Lending money to public and institutions ● Transferring money from place to place ● Collecting money on cheque, draft and bills ● Discounting of bills ● Hiring safe deposit locker ● Condu...