Bank in Hindi: Definition and Explanation

In Hindi, a bank is referred to as "बैंक" (bank). A bank is a financial institution that is licensed to receive deposits, make loans, and provide other financial services such as investment management and currency exchange. It serves as a bridge between individuals and businesses, facilitating financial transactions and promoting economic stability. Banks operate under a set of regulations that govern their operations, ensuring the safety of deposits and the soundness of the financial system. They play a crucial role in the economy by providing liquidity, financing for businesses, and services for everyday transactions. Banks can be categorized into various types, such as commercial banks, investment banks, cooperative banks, and savings banks, each serving different purposes within the financial ecosystem. Understanding the function of banks is essential for individuals and businesses alike, as they interact with banks for savings, loans, and other financial services. The importance of banks extends beyond just personal finance; they are vital for economic growth and development.