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What is a bank |
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Answer» Bank is basically an institution which keeps our money safe by expecting our surplus amount and also lends money to the perso persons who are in need for it. People deposit their extra cash in bank.\xa0A bank in addition to keeping the money also pays interest on the deposit to the depositor. Thus bank deposits are also called demand deposits. A person simply needs to have an account with the bank to deposit money.\xa0A cheque can be used to make payment directly from a bank deposit without using cash. |
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