Feature or Characteristics of Bank
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Bank is a financial institution & intermediary. It keeps money saved by general peoples as deposit. Keeping a part of deposit to its hand for meeting the daily necessity of client, it provides and invests the remaining part of that deposits among various types of people as loan. So, its criterion are special than any other business or financial institutions. The features and Characteristics of bank are shown below:
1. Intermediary.
2. Financial institutions.
3. Legal entity.
4. Solvency.
5. Receiving deposits.
6. Issuing loan.
7. Safety & security.
8. Keeping secrecy.
9. Servicing.
10. Representation.
At last it is said that, bank is keeping vigorous roles to develop the economy, trade and commerce for obtaining its own radical development as a financial intermediary.
Qualities / Considering factor of efficient judgement of modern or ideal bank are/ Considering factors for opening account.
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Bank is a dealer of money and loan. The bank which ensures the best service & best behavior as well as captivates to clients through security and representation is called ideal or modern bank. The qualities of ideal back are given underneath with three categories :
A. Organizational qualities.
B. Business qualities.
C. Other qualities.
A. Organizational qualities :
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* Origin of bank may be established through company law or state which belongs to permanent existence.
* Location of bank will be easy, developed, secured and according to clients choosing.
* Experienced.
* Nationality.
* Efficient management.
* Solvency.
* Economy.
* Huge numbers of client.
* Relation with central bank.
B. Business qualities :
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* Good behave.
* Safety.
* Higher standard of services.
* Secrecy.
* Punctuality.
* Application of standard, modern &
exclusive technologies.
* Goodwill.
* Liquidity.
* Higher amount of loan &
investment.
* Lower rate of interest on loan &
higher rate of profit on deposit.
* Advising.
* Representation.
* Engaged in foreign exchange.
C. Other qualities :
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* Existence of foreign branches.
* Assistance to the government.
* Participation to social
development.
* creation of sensibility.
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