Question

Visit a bank in your locality with your parents. Observe and find out the functions it performs. Discuss the same with your classmates and prepare a chart on it.

Answer 1

Name of the Bank Visited: State Bank of India (SBI)

During my visit to the State Bank of India, I observed that the bank performs several important functions for its customers. Chart including the functions of the bank:

Sr. No.	Function	What the Bank Does
1.	Accepting Deposits	Accepts money from customers in savings, current and fixed-deposit accounts.
2.	Providing Loans	Provides loans for education, houses, vehicles, businesses, etc.
3.	Withdrawal of Money	Allows customers to withdraw money through the bank counter, ATM or other facilities.
4.	Money Transfer	Transfers money from one account to another through NEFT, RTGS, IMPS, UPI, etc.
5.	ATM/Debit Card Facility	Provides ATM and debit cards for withdrawals and payments.
6.	Cheque Facility	Provides cheque books and processes cheque payments.
7.	Internet & Mobile Banking	Enables customers to check balances, transfer money and pay bills online.
8.	Locker Facility	Provides lockers for the safekeeping of jewellery, documents, and other valuables.

Thus, a bank not only keeps our money safe but also provides loans, payment facilities, money-transfer services and many other financial services.