Banks:- Bank is a financial institution authorised by RBI (Reserve Bank of India) to accept deposit, to pay interest, to open/operate saving accounts, to make loans, to act as financial intermediaries in the transaction like as Bank guarantees, Factoring etc. to also provide other services to its customers. Banks are also known as the custodians of Public money and mobilization of funds as deposits from the public is the most important functions of the banks. Apex body of Bank is Reserve bank of India (RBI).

In Fixed deposit, customer needs to park its deposit amount in the bank. Depositor needs to submit some documents like as Copy of PAN card, Address proof, ID proof, photo of depositors etc. along with deposit application form and deposit amount. Deposit policy may be vary from bank to bank on the basis of ROI, Plans, Terms, minimum amount, maximum amount, depositors status etc.


Structure of the banks in India is mentioned in below diagram:-



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