Banks act as payment agents by conducting checking or current accounts for customers,
paying cheques drawn by customers on the bank, and collecting cheques deposited
to customers' current accounts. Banks lend money by making advances to customers
on current accounts, by making installment loans, and by investing in marketable
debt securities and other forms of money lending.
A mortgage is the transfer of an interest in property (or the equivalent in law
- a charge) to a lender as a security for a debt - usually a loan of money. A mortgage
is an agreement by which a loan is granted for the purchase of a property and the
property itself is pledged as security.
Here’s the Various Banking, Mortgage Industries in India…!!