Banks are financial institutions that accept deposits from the public and create a demand deposit while simultaneously making loans. Lending activities are directly performed by the bank. These institutions are responsible for driving funds into the economy. Banks contribute to the national income of the country]. Therefore they help with the development and welfare of the people in the economy.
Banking is the management of other people’s money.
In earlier times, a career in banking was only limited to loans and the safeguarding of those loans. In contrast to the past, the services in the banking sector have increased, for instance providing debit and credit cards, lockers, ATM services, online transfer of funds, insurance, brokerage services, fund managers, risk management services, advice to corporates, etc. With the increase in the services provided by banks, there has been a need for professionals to direct the same. To take up a career in baking is one of the most remunerative careers in today’s day and age.
You must be vivacious about the field of commerce and finance, you must be up to the mark in calculations, numbers, and managing finances. Banking exists in both the private and public sectors, this creates a demand for skilled professionals. previously mentioned this created job opportunities for the economy. There are numerous opportunities available in this domain. Working in the arena of banking is well paid, profitable, and worthwhile. Taking up a career in banking would impart you with skills that will last with you for a lifetime.
Blog writer - Zoya
Zoya is a 12th grade student who’s pursuing humanities and is passionate about writing. She is currently interning with a News website called NewsHamster and writes news articles for them.