ASSIGNMENT Ramanjot

jotsidhu321@outlook.
com
[COMPANY NAME]
Assignmentof
Business studies
TOPIC
SUBMITTE
D TO-
- SUBMITTE
D BY-
BANKI
RAJWINDE RAMANJO
R KAUR T KAUR
NG
CLASS –
ROLL NO.
+1
–
‘COMMER
CE’ 10
WHA
TITL
T IS
E
BAN
K?
A bank is a financial institution that accepts
deposits from the public and creates
credit.Lending activities can be performed either
directly or indirectly through capital markets. Due
to their importance in the financial stability of a
country, banks are highly regulated in most
countries.
Definition of Bank,
“A financial institution that is licensed
to deal with money and its substitutes by
accepting time and demand deposits, making
loans, and investing in securities.”
The history of banking began with the first
prototype banks which were the merchants of
the world, who made grain loans to farmers
and traders who carried goods between cities.
This was around 2000 BC in Assyria, India and
Sumeria. Later, in ancient Greece and during
the Roman Empire, lenders based in temples
made loans, while accepting deposits and
performing the change of money.Banking in its
modern sense evolved in the 14th century in
the prosperous cities of Renaissance Italy but in
many ways was a continuation of ideas and
concepts of credit and lending that had their
roots in the ancient world. In the history of
Brief
histor
y
Of
bank
banking, a
number of
banking
Brief dynasties –
notably, the
histor Medicis, the
y Fuggers, the
Welsers, the
Of
Berenbergs,
and the
bank Rothschilds –
have played
a central role
over many
centuries.
The most
famous
Italian bank
was the
Medici bank,
established
by Giovanni
Medici in
1397. The
HOW TO OPEN SAVING
ACCOUNT IN BANK?
Below are the steps to open a savings bank

account.
I. Select the Right Bank- It starts with
choosing the right Bank. While many people
select a bank on the basis of its distance
from home or office, it’s important that you
understand your own expectations and
requirements first and invest some time in
researching about the bank.
II. Visit the Bank or Bank’s Website-Visit

bank’s website to know more about the
bank you want to have your account in.
Websites are the best place to acquire
HOW TO OPEN SAVING
ACCOUNT IN BANK?
more information on their services, products,

and facilities.
III. Decide the Type of Savings account- Banks

have a good number of savings account
schemes such as Basic Savings accounts, No
Frill accounts, and Students account etc, each
with its own rules, charges and fees.
IV. Keep the KYC Documents Ready - To open a

savings account in your name you need to
have a ‘Proof of identity’ and ‘proof of
address’ together with two recent passport
size photographs.
HOW TO OPEN SAVING
ACCOUNT IN BANK?
As per the RBI rules, there are six documents

notified as ‘Officially Valid Documents (OVDs)’
for the purpose of producing ‘Proof of Identity’.
Those are
 Driving Licence
 Voters’ Identity Card
 PAN Card
 Aadhaar Card issued by UIDAI
 NREGA Card
You need to submit any one of these
documents as proof of identity.If these
documents also contain your address details,
then it would be accepted as ‘proof of address’.
HOW TO OPEN SAVING
ACCOUNT IN BANK?
V. Comply With Bank’s KYC Rules- The

practice of obtaining these documents is
a part of the KYC norms. KYC means
‘Know Your Customer’ and this is a
process by which, banks obtain
information about the identity and
address of the customers and ensure that
banks’ services are not misused. The KYC
procedure is to be completed by the
banks while opening the accounts.The
verifying officer has to make sure that the
documents you have submitted are
genuine. If you don’t have documents to
authenticate your identity, you will not be
able to open the account.
HOW TO OPEN SAVING
ACCOUNT IN BANK?
VI. Fill out the Forms- When the documents

are verified, you’ll be provided with savings
account application and due diligence Form.
Fill out the spaces properly and paste your
photographs in the given space. Put your
signature on the forms and photocopies of
the KYC documents in the presence of the
verifying officer. The signature you put
there will be saved in bank’s database. You
will have to use the same signature to
operate the account, withdraw money, or
whenever you sign a cheque.
VII. Depo
sit
the
HOWInitialTO OPEN SAVING
ACCOUNT Amo IN BANK?
unt-
After
the
subm
An automated teller machine (ATM) is an
ission
electronic telecommunications device that
, you
enables customers of financial institutions to
will
perform financial transactions, such as cash
be
withdrawals, deposits, transfer funds, or
reque
obtaining account information, at any time and
sted
without the need for direct interaction with bank
to
staff.
depo
sit
some
mone
Brief information
y in
the
About atm
accou
nt.
Brief information
About etf
An exchange-traded fund (ETF) is an
investment fund traded on stock exchanges,
much like stocks. An ETF holds assets such as
stocks, commodities, or bonds and generally
operates with an arbitrage mechanism
designed to keep it trading close to its net
asset value, although deviations can
occasionally occur.
Brief information
About etf
Most ETFs track an index, such as a stock index
or bond index. ETFs offer both tax efficiency as
well as lower transaction and management
costs. ETFs offer both tax efficiency as well as
lower transaction and management cost.
Insert the pictures above
sectors ok……
Take white background…..

ASSIGNMENT Ramanjot

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ASSIGNMENT Ramanjot

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jotsidhu321@outlook.

Below are the steps to open a savings bank

II. Visit the Bank or Bank’s Website-Visit

more information on their services, products,

III. Decide the Type of Savings account- Banks

IV. Keep the KYC Documents Ready - To open a

As per the RBI rules, there are six documents

V. Comply With Bank’s KYC Rules- The

VI. Fill out the Forms- When the documents

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