Bank

A bank is an organization, the major function of which is to deal in money and credit.The main business of a bank is to pool the scattered idle deposits in public and channel it for productive use.Bank in otherwise, is a custodian of money received from the depositors.Hence,its responsibility towards the general public is pretty different than those who are involved in the other types of trades and services.Modern day banks exhibit the trait more of a department store with a wide range of financial products to offer.
Retail banking is that part of bank’s operations providing services at its branches for small account holders. In short, retail banking is the banking services for individual customers. The term ‘Retail Banking’ encompasses various financial products viz., different types of deposit accounts, housing, consumer, auto and other types of loan accounts, demand facilities, insurance, mutual funds, Credit and Debit Cards, etc.

The business of a modern days bank is not confined in borrowing deposits and lending advances
only performs a host of other financial activities which has immensely contributed to achieve
industrial and commercial progress of every country.
"The banker's business is to take the debts of other people to offer his own in exchange and thereby create money".

Banks could be changing the way in which accounts operate, as high street banks have been put under pressure in the way they issue charges to customers for breaking terms, such as exceeding agreed overdrafts. The ancestors of modern day banks have been attributed to the merchants,the goldsmiths and the money- lenders.That is called as bank's introduction in mention above.