2. ICICI Academy For Skill Project by Rohini Kadam Guidance by Shruti mam

3. Basics of banking the business conducted or services offered by a bank A bank makes a loan to a borrowing customer. This simultaneously, creates a credit and a liability for both the bank and the borrower.

4. Concept of banking A bank is a company that provides financial services of various sorts to various types of customers. Its major function is to gather money from various people and to lend that money out to other people.

5. Terms of banking Account Agreement: The contract governing your open- end credit account, it provides information on changes that may occur to the account. AER: Annual earnings rate on an investment. Annual Percentage Rate (APR): The cost of credit on a yearly basis, expressed as a percentage.

6. Banking Instruments Money or currency: Notes and bills are paid as a money; that is, in legal tender. Checks: a written order on a bank or banker for the payment of money.bank Bill of exchange: is an order drawn by one party, called the drawer, on another party, called the drawee, for the payment of money to a third party, called the payee, the amount to be charged to the drawer.

7. Types of Accounts Saving account: allows you to accumulate interest on funds you’re saved for future needs interest rates or annual basis saving account vary by monthly service fees, interest rates, method used to calculate interest. Current account: is mainly for business persons, firms, companies, public enterprises etc. and are never used for the purpose of investment or savings. These deposits are the most liquid deposits and there are no limits for number of transactions or the amount of transactions in a day. Recurring deposit account: is opened by those who want to save certain amount of money regularly for a certain period of time and earn a higher interest rate. Fixed account: It’s one time deposit and one time take away (withdraw) account. The money deposited in this account can not be withdrawn before the expiry of period.

8. Electronic fund transfer system Electronic fund transfer system is a system of transferring of money from on bank directly to another without any paper money changing hands. It is used for both credit transfer such as payroll payments and for debit transfer, such as mortgage payments.

9. A Big Thanks By Rohini Kadam