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Banking > Advanced Banking > Deposits

Accepting deposits is one of the two major activities of the Banks.

Banks are also called custodians of public money. Basically, the money is accepted as deposit for safe keeping. But since the Banks use this money to earn interest from people who need money, Banks share a part of this interest with the depositors. However, accepting deposits and keeping track of the money involves a lot of book-keeping and other operations. Let us see what the Banks must maintain to provide this service

  1. An effective branch network to reach the targetted customer base

  2. A system of Intra branch accounting with separate account(s) for each customer

  3. A system of reconciliation at the end of the day

  4. Availability of adequate funds at each branch

  5. Trained staff for effective customer service

  6. Infrastructural inputs like space, stationery, comfortable environment etc.


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