Banking

The banking system plays a vital role in economic development and is one of the most significant components of the financial system of any country. The banks not only facilitates the creation of credit but at the same time they provide numerous other services for the management and transactions of funds between two persons or entities.

In this article, we will help you to understand what exactly the banks are? what are the key functions they perform and how important they are for the economic development of a country?

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In case of high-value transactions, real estate companies, government entities, colleges or other large corporations/ institutions typically don’t accept general/ personal cheques from individuals or firms to receive payment because there is always a risk of dishonour of the cheque. Therefore, such organisations/ institutions instruct the individuals/ entities to enclose a bankers cheque or demand drafts in order to pay the amount.

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These days, there are millions of transactions happening every day between two persons or parties whether it is business transactions or personal or repaying debt, cheques play a vital role when it comes to monetary transactions. Cheques not only facilitate monetary transactions between two parties/ persons but also it ensures the safety, security and minimises the risk of default during business deals.

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Bank deposits simply refer to placing your money into banks or financial institutions for convenience, saving and safeguarding your money from theft and other risks of losses. To deposit your funds in a bank, you need to open a bank account in any commercial or other types of bank.

Also, the bank provides some interest against your balance amount at a certain rate called an interest rate. The interest rate varies from bank to bank and time to time and also depends upon the types of bank accounts you hold.

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In this lesson, we will discuss some key difference between investment banking and merchant banking services. Although, unlike commercial banks, both investment banks and merchant banks are engaged in specialized financial services to business corporations, yet there are some critical differences lies in their offered services, however, there is one similarity between both that is none of the banks provide their services to the general public.

Hence, let us discuss the key differences between investment banking and merchant banking.

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