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Essay on Bank | Bank Essay for Students and Children in English

February 13, 2024 by Prasanna

Essay on Bank:  Banks are financial institutions that provide a loan or save customer’s money. The term ‘Bank’ is derived from the word ‘Banc’ or ‘Banque,’ which means a bench upon which the ancient day financiers would display their coins or transact their business in the market space.

Banks are an elemental part of society. Banks are located in different parts of the country and deal directly with the general public. They provide multiple services on customer-based requirements and provide lockers, ATM Services, money transfer, loans for houses and businesses, and several other monetary services.

Thus, Bank (s)provides primary monetary services that boost the economic development of the country.

You can read more  Essay Writing  about articles, events, people, sports, technology many more.

Long and Short Essay on Bank for Students and Kids in English

We have mentioned two essays- a 500 words Long Essay and a 200 words Short Essay. The extended essay on Bank consists of 400-500 words. The Long essay provides a framework that helps students with their competitive exams and assignments. The short essay on Bank is written for 200 words and is suitable for children and kids with their classwork.

Long Essay On Bank 500 Words in English

Given below is an extended essay on Bank for aspirants of competitive exam and students belonging to classes 6,7,8,9, and 10. The Bank essay helps the students with their class assignments, comprehension tasks, and even for competitive examinations.

A bank is a licensed monetary institution to make loans and receive or deposit money. It provides financial services such as safe deposit boxes, wealth management, and currency exchange.

The inception of a Bank/Banking system in India goes back to the Vedic civilization. Loans were given to those in need and were then known to be the name ‘rnalekhya or rnapatra.’ As time evolved, Big merchants and business people started bidding interests on loans to farmers and small traders and the unpayable assets were confiscated.

The first Bank established in India was the Bank of Hindustan at Calcutta in the year 1770. This was followed the start of other banks such as Bank of Calcutta, Bank of Madras, and Bank of Bombay in the early 19th century.

Classifications of a Bank

• Commercial Bank:  Theses may be government-owned or a private bank. There are 20 major commercial banks
• Industrial or Investment Banks:  These banks provide long-term loans or other features to any industrial concerns.
• Exchange Banks:   These banks deal with the foreign exchange of currencies. A few Indian commercial banks also handle foreign currency exchange deals.
• Co-operative Banks:  These are set-up regarding small-scale industries and farmer’s concern. Co-operative banks are subcategorized as Central Co-operative Banks and State Co-operative Banks.
• Land Mortage Banks:  These banks provide loan-term debentures to agriculturalists and farmers.
• Central banks:  This Bank occupies the central position in the country and is the financial market’s statutory body.
• Saving Banks : these banks promote savings scheme among the middle-class families. However, the savings accounts are monitored by the commercial banks in India.
• Indigenous banks:  These lend money and finance the country’s internal trade.
• Regional Rural   Banks:  Theses banks are set-up by the central government for the economic development of rural regions. The commercial banks sponsor these banks.

Functions of a Bank

The essential function of a bank is to receive deposits. Theses deposits are received as fixed deposits- which have a limited time frame, current deposits- require no interests and are framed mainly for business people and savings bank deposits to encourage savings with a 5 percent interest rate.

Another primary function of a bank is to lend money through cash credits or loans, overdrafts, or discounting bills. The banks usually charge a higher interest rate while giving money.

The banks also perform various agency functions that provide services such as remitting funds, sell and purchase shares and bonds, collect and paycheck bills, subscriptions, rents, etc.

Importance of a Bank

A bank helps people cultivate the habit of saving and provides safe custody. It collects bills, drafts, cheques, and grants credit facilities and loans to people. It facilitates making payments and secures the overdrafts and loans.

A bank also provides safe custody of valuables such as deeds, ornaments, documents, jewels, etc. It also sells and purchases stocks, shares, etc. A bank is essential as it provides Credit information and a Letter of Credit and acts as representatives and makes correspondence.

Top 10 Indian Banks

• Bank of Baroda
• Punjab National Bank
• Canara Bank
• Bank of India

Thus, a bank forms an integral part of society and is a critical factor that boosts economic development in the country.

Short Essay on Bank 200 Words in English

The 200 words short essay mentioned below is suitable for kids and children up to 6th standard. The essay is written to guide the children with their school works-assignments and comprehension exercises.

A bank is a financial institution that provides funds based on credits to firms or individuals and accepts money deposits from the general public. A bank offers various functions such as transfer of funds, issuance of drafts, locker facility, portfolio management, etc. The first established Indian Bank is the Bank of Hindustan, located at Calcutta in 1770.

There are different types of functioning banks, such as Retail banks, national banks, investment banks, savings banks, co-operative banks, commercial banks, land mortgage banks, exchange banks, industrial banks, and consumer banks.

A bank provides multiple functions such as eases trade and commerce, promote agricultural sectors, ensure safe deposits, aids industrial developments, provides employment, and encourages saving habits.

A bank plays a vital role in the economic development of a country as it removes the deficiency of capital and encourages investment and savings. It resembles all the savings of society and makes it available for investment.

There are a total of 34 functioning banks in India; out of 12 banks are public sector banks, and the remaining 22 banks are private sector banks. The Top ten banks include

In short, Indian banks play an essential role in boosting the economic development of a country. It mobilizes the financial resources and flow of money in a society.

10 Lines on Bank Essay

•  Banks are government certified financial institutions that lend or receive money deposits.
• The Bank of Hindustan was the first Bank to be established in 1770 at Calcutta, while the State Bank of India, established in 1906, is the oldest functioning Bank.
• Banks provide long and short term loans to individuals and corporate firms.
• The Reserve Bank of India is a central monetary that controls and regulates the entire banking system- circulation of currency and credit.
• India comprises 34 functioning banks, out of which 12 are public sector banks, and the remaining 22 are private sector banks.
• There are multiple divisions in banks. However, the two primary classifications of a bank are Investment Banks and Commercial/Retail Banks.
• The primary purpose of a bank is to provide consumers with ease of financial issues.
• A bank plays a significant role in the economic development of a country. It aids in the removal of the deficiency of capital and encourages investment and savings.
• A bank also performs other services such as remitting funds, sell and purchase shares and bonds, collect and paycheck bills, subscriptions, rents, etc.
• The Bank acts as the lifeline of any economy and is significant for the development of a country.

FAQ’ On Bank Essay

Question 1. State the significant functions of a bank?

Answer: A bank’s primary function includes cash credits, overdrafts, discounting bills, granting loans, and accepting deposits. While their secondary duties include providing consumer finance, safe deposit for valuables, issues letter of credit, educational loans, etc.

Question 2. Which is the first Indian Bank?

Answer: The first Bank to be established in India was the Bank of Hindustan in 1770 at Calcutta.

Question 3. State the various types of banks?

Answer: A bank is classified as national banks, investment banks, retail banks, savings banks, industrial banks, co-operative banks, commercial banks, exchange banks, consumer banks, and land mortgage banks.

Question 4. Name the top ten Indian banks?

Answer: HDFC Bank, Axis Bank, IDFC Bank, SBI, Bank of Baroda, Punjab National Bank, ICICI Bank, Canara Bank, IDBI Bank, and Bank of India.

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Some people think that the best way to be successful in life is to get a university education. Others disagree and say this is no longer true.

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• Essay On Bank

Essay on Bank

500+ words essay on bank.

Banks are an integral part of the modern economy. They play a major role in the economic growth and development of a country. The idea of banking evolved with the idea of money. In India, public sector banks (PSBs) have been working to provide banking services in urban and rural areas since 1970. These public sector banks account for nearly 70% of banking activity in India. With the help of this essay on banks, students will get to know the functions performed by banks and their importance for individuals and the country. To help students in improving their essay-writing skills, we have also compiled a list of CBSE Essays on different topics. By practising these essays, they can boost their writing skills and also score good marks on the English exam.

Meaning of Bank

Banks are mainly linked to depositing and lending money. In Indian society, moneylenders used to give money to people in ancient times. They charged a high rate of interest to people as there were no banks or banking systems available at that time. But, with the change in time, the banking system was introduced in India. Now, we have public sector banks and private banks.

A bank is a financial institution that deals with deposits, withdrawals and other related banking services. Bank receives money from those who want to save in the form of deposits, and it lends money to those who need it. A bank is a financial institution that works as an intermediary to accept deposits and channels those deposits into various lending activities. It does so through loans or capital markets. A bank establishes the connection between the customers who have capital surpluses and those with capital deficits. In India, all banks operate under the guidelines of the Reserve Bank of India, which is known as the banker’s bank.

Functions of Bank

Banking is the lifeline of the modern economy. It has played a very important role in the economic development of all the nations of the world. We can not think of modern commerce without banking. Banking is a business which seeks profits like any other business. The banking business mainly constitutes borrowing and lending as their basic functions. Now, banks are providing many other services to people, such as net banking, online shopping, mobile banking, granting loans and advances, short-term credit, pension payments, acting as a dealer in foreign currency etc. A common person can safely deposit their money in the banks.

How Important are Banks for Development?

Banks are the most important financial pillars. They play a vital role in the economic development of a country. The financing requirements of industries, trades, agriculture and other business are met with the help of banks. Therefore, if the banking system of a country becomes strong, then the development of the country will also be at a faster rate. In today’s economy, banks are not only dealing with money, but they are also contributing to the development of the nation. They play a crucial role in the disbursement of credit and the mobilisation of deposits to various sectors of the economy. Banks also represent the economic health of the country. The strength of a nation’s economy depends on the strength of the financial system, which depends on the banking system.

In India, banks play a crucial role in the social and economic growth of the country after independence. The banking sector in India accounts for more than half the assets of the financial sector. The Indian banks have shown much growth after the implementation of financial sector reforms.

Banks are the backbone of any country’s economy. They are responsible for running the economy and controlling the price of the markets. They perform various important functions. However, there are default NPAs, cases of corruption and security threat-related issues, but these can be resolved by implementing strict laws and rules by the government.

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Essay on Bank

Banks are financial institutions that deal in monetary transactions. Banks form an integral part of any society. There are numerous banks located in different parts of our country. While earlier there were limited number of banks with a few branches in big cities and towns in India, a number of new banks have opened in the last few decades with branches in every nook and corner of the country. Banks provide a lot of services based on the customer’s requirements. They provide locker facilities, safe deposits, ATM Services, Fixed Deposits, money transfer, loan for business and houses and several other monetary services to their customers.

Long and Short Essay on Bank in English

Here are essay on Bank in English of varied lengths to help you with the topic whenever you required.

After going through these Bank essay, your knowledge about banks, their functioning and their usefulness will enhance and you will emerge as a knowledgeable person.

These essays will prove useful in your school or college assignments, especially for students of commerce or banking.

You can select any bank essay of your choice given below:

Bank Essay 1 (200 words)

The banking system that involves accepting deposits and lending money initiated centuries back in various parts of the world. The system improvised over the time and the banks these days offer various other facilities in addition to the basic depositing and lending of money.

People are encouraged to keep their money in the banks because it is a safe and secure way to store the money. The money stored in the bank in the form of fixed deposits and recurring deposits also fetches a good amount of interest. In addition to money, one can also keep jewellery and important papers in the bank lockers.

Providing loans, which is another primary function of the banks, is also beneficial for individuals and businesses in many ways. Salaried people can build their assets such as property, car, etc easily with the help of loans from the bank. Businessmen can expand their businesses with this facility. A number of other services are also provided to the businessmen to ease their financial transactions and aid in the growth of their business.

Online Banking has further enhanced the process of banking. Various banking services such as checking balance, transferring amount, applying for loan are now provided on the bank’s website. All the customers require doing is opting for internet banking service.

Bank Essay 2 (300 words)

Introduction

Banking system has been in place since centuries. The system has been prevalent in India as well as other parts of the world. Only the services provided and the functions carried out have enhanced over the time.

History of Banks

Banking service began back in the 14 th century in some parts of Renaissance Italy. It was initiated on the lines of the concept of lending and borrowing that took place among people since the ancient era. In the ancient times, the merchants gave grain loans to the traders and farmers. This was called the barter system. Over the time the system evolved to accepting deposits and lending money.

The Fuggers, the Medicis, the Berenbergs, the Rothschilds are among some of the banking dynasties that are known to play a central role in the history of banking. They dominated this sector for centuries. Modern banking services such as issuance of banknotes and reserve banking started in the 17 th century. Bank of England and The Royal Bank of Scotland are some of the oldest banks in the world.

History of Banks in India

In India, the banking system dates back to the Vedic civilization. Loans were given to the needy in that era too only the nitty-gritty’s involved in the same were different. Loans deeds in that period were known by the name rnalekhya or rnapatra.

Big businessmen and landlords gave money to the small traders and farmers on interest in the earlier times. This culture is still prevalent in some villages in the country. The lands or other valuable assets of those who were unable to pay the amount were confiscated just as the banks do these days.

The first bank established in India was the Bank of Hindustan. It was opened in the year 1770 in Calcutta. Bank of Bombay, Bank of Calcutta and Bank of Madras were set up later in the early 19 th century.

There are numerous types of banks in every country to cater to the needs of different customers. They provide various services and aid in the growth of the country’s economy.

Bank Essay 3 (400 words)

A bank is an institution that accepts money deposits from the public and provides funds on credit to individuals as well as firms. These are the primary functions of a bank but not the only functions. They provide various other services to its customers such as locker facility, transfer of funds, issuance of drafts and portfolio management to name a few.

Importance of Banks

Banks are important for the individuals as well as the development of the country’s economy. Here is why these institutions are of importance:

• Provides Safety and Security

Money kept at home is not safe. It is prone to burglary. When you keep your money in the bank, it is the bank’s responsibility to safeguard it. You do not have to worry about its security.

• Encourages Saving Habits

Banks offer various schemes from time to time to encourage saving habits in people. The money put in the bank is not only saved but also grows. You have the option of withdrawing it any time you want.

• Eases Trade and Commerce

Banks promote trade within the country by providing loans and advances to the traders. It also eases the process of trading between different countries. They provide easy money transaction options to smoothen the process. It is easy to send and receive funds from anywhere with the advancement in the banking system.

• Promotes Agricultural Sector

Agricultural sector is an important part of the economy. There are special banks that provide loans to the farmers at low interest to promote agricultural activities. Banks thus aid in promoting the agricultural sector.

• Aids in Development of Industries

Banks accept deposits from individuals and businesses and provide loads to the industries. They thus aid in the development of various industries in this way. The loan can be repaid in easy instalments.

• Provides Employment Opportunities

Banks provide loans for the growth and development of the agricultural and industrial sectors. As these sectors expand, a number of employment opportunities are created for the public.

Banks are an important part of any country. The modern banking services have helped in easing the process of trade, development of industries and other activities that help in the development of the country’s economy. Banks and other financial institutions that promote the growth of businesses and safeguard the money and other valuable assets of individuals are certainly play an integral role in the development of a country’s economy.

Bank Essay 4 (500 words)

Banks play an important role in maintaining financial stability in the country. They offer numerous services to help you manage your finances better. These institutions thus form a vital part of any society.

Functions of Banks

The functions of banks have broadly been classified into two categories. These are the primary functions and the secondary functions. Here is a look at these in detail:

Primary Functions

Primary functions are the main functions of the banks. These include accepting deposits and providing loans. Here is a brief look at these functions:

• Accepting Deposits

These deposits are basically of four different types:

Saving Deposits: These deposits encourage public to save money. The money can easily be withdrawn and deposited in the saving account without much restriction. The interest rate here is however quite low.

Current Deposits: This account is especially for the businessmen. These accounts offer facilities such as overdraft that are beneficial for the businesses. No interest is paid in this account.

Fixed Deposits: In a fixed deposit a considerable big amount is deposited in the account for a fixed period of time. The rate of interest is high in such deposits.

Recurring Deposits: A certain amount is deposited at regular intervals in such an account. The rate of interest is high. However, the amount cannot be withdrawn before a certain period.

• Providing Loans

Here are the types of loans and advances offered by the banks:

Loans: Loans are offered for both short term and long term period. The rate of interest charged on the same varies based on the type and duration of loan. It can be repaid in instalments.

Cash Credits: The customers have the facility to take cash credit up to a certain amount which is fixed in advanced. A separate cash credit account needs to be maintained for this.

Overdraft: This facility is for businessmen. It is thus provided to the current account holders. They do not require maintaining a separate account to avail this facility.

Secondary Functions

Secondary functions, also known as non-banking functions, are of two types. These are agency functions and general utility functions. Here is a brief look at both these types of functions:

• Agency Functions

The bank also acts as an agent for its customers. A number of agency functions are performed by this institution. These include collection of cheques, periodic payments, portfolio management, periodic collections and transfer of funds. Banks also act as executors, administrators, advisors and trustees for their customers. They help their customers deal with other institutions.

• General Utility Functions

Banks also perform general utility functions that include providing locker facility, underwriting of shares, dealing in foreign exchange, issuance of drafts and letter of credits, drafting project reports, undertaking social welfare programmes such as public welfare campaigns and adult literacy programmes.

Discounting of bill of exchange is another service provided under this.

While initially the functions of banks only included accepting deposits and providing loans; they have started providing various other services now. All these facilities are aimed at helping the customers with their finances.

Bank Essay 5 (600 words)

Banks are financial institutions that lend money and accept deposits from general public. Banks maintain the flow of money in the country and are important for its economic growth. There are different types of banks that offer different kinds of services to individuals as well as businesses.

Types of Banks

Here are the various types of banks and their functions:

• National Banks

Also known by the name, Central or Federal bank, these banks manage the financial system of the government. These non-profit making institutes serve as bankers to the other banks. There is one Central bank in every country. Some of the functions of National banks include supervising foreign exchange, controlling the country’s currency and issuance of paper currency. They do not deal with the general public.

• Retail Banks

These are the most common types of banks. These are mainly set up to focus on the requirements of the general public. They open your savings account, provide credit cards, give loans and provide locker facility among other services.

• Saving Banks

These are especially established to inculcate the habit of saving money among the people. The deposits from the customers are turned into securities and bonds in these banks. These were set up way back in the 18 th century in European countries. Besides, accepting deposits from individuals these banks offer various other services too.

• Commercial Banks

The main aim of these banks is to aid the business class. They provide loans to the businessmen and also provide other services that are useful for the business men. Some of these services include bill of exchange, overdraft and cheque collection.

• Investment Banks

These banks are also set up to aid the businesses. These banks help the businessmen establish a foothold in the financial markets. Investment banks facilitate those businessmen who require selling debt to the investors or want to go public with their business.

• Land Mortgage Banks

Also known as agricultural banks or Land Development banks, these are mainly set up to aid the agricultural sector by financing it. These banks also play an important part in land development. The reason why this special category of banks has come into being is that there is a lot of risk in financing the agricultural sector and the commercial banks that support other businesses are not ready to take such risk.

• Co-operative Banks

Co-operative banks provide loans to small-scale farmers, small-scale businesses and salaried people. They provide both commercial and retail services to people. These banks are registered under Co-operative Societies Act, 1912.

• Consumer Banks

These banks have exclusively been set up to provide loan for purchasing durable consumer goods such as car, washing machine, refrigerator, furniture, etc. These banks give their consumers the leverage to repay loans in easy instalments. These are mostly found in first world countries.

• Industrial Banks

Also known by the name Development Banks, these banks are established to aid the industrial sector. These banks accept cash by issuing shares and debentures. They provide long-term loan to the industries to help them expand and develop. Many such banks have been established in the country post independence.

• Exchange Banks

These banks are particularly engaged in financing foreign trade. Some of the main functions of these banks include discounting foreign bills, purchasing and selling silver and gold and providing assistance in carrying out export and import trade.

Banks are established to ease the financial issues of the general public as well as the country as a whole. Different types of banks serve different purposes and have been set up to cater to the needs of various classes.

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Home » Bank Exams » Descriptive Writing For Bank Exams

Descriptive Writing For Bank Exams: A Complete Guide

Descriptive Writing

Descriptive Writing For Bank Exams : In almost every banking related exam, the mains exam consist of descriptive writing. Descriptive Writing which comprises – one Letter Writing and one Essay Writing which makes a total of 25 marks in most of the exams such as NABARD, RBI, IBPS PO, SBI PO etc.  The marks that you get in the descriptive writing section are added to the Mains objective paper marks to calculate the overall mains cut-off marks .  So, it is very important to have a good idea about Descriptive writing.

In this blog, Descriptive Writing For Bank Exams we will provide you with some of the important topics, types, and formats for Letter writing. Do remember that in the exam, you will have to type the Essay and Letter using the computer keyboard. So it is advisable to practice them online.

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Descriptive English For Bank Exams – Types of Letter Writing

There are mainly two types of letters asked in exams:

FORMAL LETTER

INFORMAL LETTER

• Written in official and non-personal capacity.
• Written to authorities, dignitaries, bureaucratic bodies, news editors, bank managers, etc
• Personal Letter
• Written to personal contacts, family, friends, relatives, siblings, etc

How to Write a Letter in English – A Guide | Oliveboard

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Descriptive Writing For Bank Exams – Topics For Letter Writing

Below are some important and latest topics that you can practice writing upon for your different Bank Exam descriptive writing part.

Formal Letter Topics-

• Write a letter to the branch manager of your bank to conduct a campaign in your area to create awareness about the benefits of KYC.
• Write a letter to the Superintendent of Police of your district suggesting steps to make the police department more approachable.
• Write a letter to the editor of a local newspaper detailing the losses suffered by local retailers during online sales during festivals.
• Write a letter to the editor of a local newspaper about the stray animal problem getting out of hand in your locality.
• Complaint letter about hassle faced by common people due to demonetization.
• Complaint letter about increasing noise pollution.
• Complaint letter concerning the chaotic state of traffic.
• Letter to Bank Manager to reissue your ATM Card.
• Letter expressing your views on corruption in this country.
• Request letter for greater frequency of Public Transport (Bus Service) in your area.

Informal letters topics-

• Letter to your younger sibling, stating the importance of a healthy diet and the reasons for avoiding junk food.
•   Write a letter to your younger sibling, who has recently started working, to not take too much stress at work.
• Write a letter to your younger sibling about the recent changes in traffic rules and fines, advising him/her to be cautious
• Letter to your favorite novelist about his/her recent novel.
• Letter to your sister congratulating her on her promotion.
• Letter to your friend who is depressed.
• Letter to your parents advising them to invest in mutual funds.
• Letter to invite your friend to your brother’s wedding.
• Letter to convince your friend to take better care of her health .

Prepare these topics or any similar topic that attracts your attention and you will be good to go. 

Descriptive Writing For Bank Exams – Common Tips On Letter Writing

• Word limit – 150 words.
• Correct format and salutation (different for both).
• Take care of grammar, spelling, punctuation, and indentation.
• Every part carries equal weightage.
• 3 paragraphs – an introductory paragraph, a body, and a concluding paragraph.
• Try not to go beyond a single paragraph for the body.
• A letter must never be written in points.
• Use simple and straightforward sentences.
• The letter should have a flow, clearly mentioning the purpose of writing.
• Do not use jargon, slang, or abbreviations.

Attempt Mains Mock Tests Here

Descriptive Writing For Bank Exams – Formal Letter Format

• Use a comma after every line of address.
• Salutation should be “Dear Ma’am/ Sir”.
• Subject can be placed AFTER or BEFORE salutation.
• Addresses of both sender and receiver must be mentioned in a formal letter.
• Sender address> Receiver address > Salutation.
• The introduction must mention the issue.
• The body should describe the issue.
• The conclusion must quote the steps that can be taken/ expectations/ timelines, etc.
• The statements must be very direct and written in a formal command and sentence structure. Use active voice preferably.

Practice Letter writing Here

Descriptive Writing For Bank Exams – Informal Letter Format 

• Address of only the sender should be mentioned in an informal letter.
• Use comma after every line of address.
• Salutation should be “Dear name of the friend/ family”.
• The introduction should have greetings and mention the reason for writing the letter.
• The body should give descriptions of the same.
• The conclusions must end with well wishes, etc.
• Be polite and do not form long sentences and be extra careful of the word limit.

Tips for letter writing:

• Candidates must be able to identify the type of letter they will write. Eg, writing a letter to the Principal asking for leave is a formal letter, but writing a letter to the Principal to catch up after a long time would be an informal letter.
• In formal letters, clearing the purpose of the letter immediately is very important.
• Polite words and civil language should be used while writing a letter.
• The letter should be precise and to the point.
• The opening and closing format should be correct. re 

Complete Descriptive Writing Guide Here

You can also download the E-book for descriptive writing.

Sneak-Peek into the E-Book – Descriptive Writing

How are letters and essays evaluated?

Although there is no set criteria according to which the descriptive section paper is evaluated, there are some common things that are examined by the evaluator. For most banking exams, the descriptive section is evaluated manually.

Content:  The examiner would see whether aspects of the topic have been addressed in the essay and if provided details, examples and explanations are appropriately supporting the candidate’s point of view.

Descriptive writing Guide is Here! Read More

Formal Requirement:  As the paper is descriptive in nature there are certain requirements that must be fulfilled by the answers. For letters, the format must be strictly adhered to. Although extra marks might not be awarded for the format/ structure, an absence of it might cause a reduction in your marks. For letter writing, stick to the prescribed formats of formal and informal letters. For essays, make sure the word limit (if any) is not exceeded. Also, make sure that the essay is in paragraph form.

Development, Structure and Coherence:  How well the topic has been understood and explained is the main criteria for evaluating any piece of descriptive writing. The examiner sees whether there are any examples given, what is the range of thoughts/ ideas presented and how logically they are penned down. The following might be the few things an examiner is looking for in your piece of writing:-

• Does each paragraph contain just one idea or concept?
• Does the evidence support the writer’s argument?
• Does this paper have a beginning (introduction), a middle (body), and an end (conclusion)?

Grammar:  This is also a very important criterion. An essay may be logically presented, it may have a variety of ideas, but if the grammar is bad, it makes the entire essay ‘not so good’. Examiners don’t expect complex sentences. Just make sure you create correct and straightforward sentence structures and convey your thoughts effectively. 

• Does this paper have proper punctuation?
• Does the author provide complete sentences?
• Does this paper have consistent verb tense, voice, and third-person usage? (essays are generally written in the third person)

Vocabulary & Spelling:  Again we would like to clarify that a test taker is not expected to use “high – fi” English words. As long as you have the right word for an idea, that’s good. A simple example of this would be:

• If you want to say “very good”, say “excellent”.

Also, avoid spelling mistakes as they point to a careless attitude.

Here, we would like to mention one important thing: Time Management. Make sure you divide your time as per the weightage of the question. Since an essay has higher marks, allot more time to it.

Descriptive English Practice 04 – Letter-Writing Samples by Oliveboard Users

Refer to the expert guidance for Descriptive Writing in the below-given video.

How To Write an Essay and Important Topics For Essay Writing : Find Here

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Home » Descriptive Writing for Bank Exams: Check Format, Pattern And Topics For Essay And Letter Writing

Descriptive Writing for Bank Exams: Check Format, Pattern And Topics For Essay And Letter Writing

Descriptive Writing for Bank Exams: Here we have come up with the complete details regarding Descriptive Writing for Bank Exams and also attached the Descriptive Writing Topics PDF for Bank Exams. Descriptive Writing is one of the important parts of most of the bank exams like IBPS PO, SBI PO, RBI Grade B, NABARD Grade A, and Nabard Grade B. The motive of this descriptive writing for bank exams is to test candidates’ general English reading & writing skills required for the job profile. In the Descriptive Writing for Bank Exams, there are two sections which are Essay Writing and Letter Writing. The Descriptive Writing for IBPS PO is for a total of 25 marks and the Descriptive Writing for SBI PO is for a total of 50 marks. The total time duration for the Descriptive Writing For bank exams is 30 minutes. Candidates who are preparing for the bank exams must practice the Descriptive Writing Topics to score more marks. Because Descriptive Writing for Bank Exams is one of the easiest scoring sections. We have provided the Descriptive Writing Topics for Bank Exams in the Descriptive Writing PDF. These Descriptive Writing Topics are added to the pdf after analyzing the latest trend and previous year’s question papers. In this Descriptive Writing for bank exams page, we have added the Descriptive Writing Topics for both essay writing and letter writing. These essay writing topics and letter writing topics added in the descriptive writing pdf for bank exams will be helpful to prepare for the upcoming bank examinations. So utilize this Descriptive Writing for Bank Exams page to learn the Descriptive Writing format, Descriptive Writing topics, patterns, and more.

 Descriptive Writing PDF For Bank Exams 

Descriptive Writing Topics PDF For Bank Exams

Descriptive Writing Topics PDF: Here we have attached the Descriptive Writing Topics PDF for bank exams for the preparation of the candidates. This Descriptive Writing Topics PDF covers both essay writing topics and letter writing topics for bank exams which are commonly asked in IBPS PO and SBI PO exams. Our experts have curated these Descriptive Writing Topics pdf which includes essay writing topics and letter writing topics after analyzing the latest trend and previous year’s questions papers. So candidates make the best use of this Descriptive Writing Topics pdf to score more marks easily in the competitive examinations.

Download Descriptive Writing Topics PDF For Bank Exams

What Is Descriptive Writing for Bank Exams? 

Descriptive Writing for Bank Exams: Descriptive Writing for bank exams is an online descriptive test. It mainly splits into two segments which include essay writing and letter writing. For the NABARD Grade A exam, they will ask other descriptive writing topics for bank exams such as precis, comprehension, and business journal-type. So aspirants can refer to this descriptive writing for bank exams page to gain knowledge about Descriptive Writing for Bank Exams. If you practice the Descriptive Writing for Bank Exams with the Descriptive Writing topics pdf for Bank Exams provided here you will surely be familiar with the Descriptive Writing for Bank Exams which will be helpful to maximize your scores in the upcoming bank exams. Before going to practice with the Descriptive Writing for Bank Exams you should be familiar with the Descriptive Writing pattern and format. So let’s read further to know the Descriptive Writing pattern and Descriptive Writing format for bank exams.

• Descriptive essay writing describes the topic through which objectives, literacy skills, Presentation skills, and knowledge of a writer are identified.
• It provides a clear picture and concise information on the topics chosen to describe.
• It enhances the vocabulary skills of the writer and also makes the writer gain the skills to deliver the content to the readers.
• Writers define the topics by Capturing events and paying attention to the issues.

Descriptive Writing Pattern for Bank Exams

Descriptive Writing Pattern for Bank Exams: Candidates can check the Descriptive Writing Pattern for various bank exams here for their reference. You can check the Descriptive Writing for Bank Exams pattern for IBPS PO, SBI PO, RBI Grade B, NABARD Grade A, and NABARD Grade B in the following table.

Descriptive Writing Format For Bank Exams

We have provided the descriptive writing format for bank exams here. The two segments that are commonly asked in most of the bank exams in descriptive writing for bank exams are,

• Descriptive Essay Writing Format

Descriptive Letter Writing Format

Descriptive essay writing format for bank exams.

Descriptive Essay Writing: Essay writing is a major part of descriptive writing topics for bank exams. Through this descriptive essay writing for bank exams, they will test the candidate’s creative writing and thought process. Some of the key Essay elements of descriptive writing for bank exams are as follows:

• The characteristics of a good essay are unity of thought, lucid language with consistency, the relevance of context, and the positioning of ideas.
• Some of the most popular descriptive writing topics for bank exams in essay writing are descriptive, narrative, argumentative, and expository essays.
• Essays on the environment, socio-political issues, current events, and financial & banking affairs are commonly asked.

Descriptive Essay Writing Format for Bank Exams

Candidates can check the Descriptive Essay Writing Format for Bank Exams here. An essay is a creative flow of ideas that has no fixed structure. However, the standard descriptive writing format for essays is given below –

• Introduction
• Body Paragraphs

How to start my essay?

Candidates can check the tips to start essay descriptive writing for bank exams provided here.

• While stating any topic, defining the introduction on the title is more important in essay writing.
• The introduction represents what is given in the latter part of the essay.
• The introduction must contain key ideas and mandatory information.

What topic do I have to choose?

• Candidates must need to choose a topic on which sufficient points could be collected at the stipulated time.
• The candidate must have known current events and objectives of the topic chosen to describe.
• The candidate should choose the topic on which impressive ideas and thoughts can be delivered.

Descriptive Letter Writing Format For Bank Exams

Descriptive Letter Writing: Letter writing is a significant part of descriptive writing for bank exams. The skill of descriptive writing for bank exams is commonly tested through Letter Writing which is the same as sending official and unofficial emails, but with a specified format. The letter defines the way of stating information, conveying messages, wishes, and gratitude, addressing grievances, and tweeting progress to the receiver. It is a communication medium between a sender and a receiver. It is a formal way of expressing thoughts. A letter aids the person to deliver everything in a systematic way and also It is a fundamental step to originate the process. Letter writing in descriptive writing for bank exams is asked mainly in two types which are given below.:

• Formal Letter
• Informal Letter

Now, let’s move on further to understand the structure, format, and descriptive writing examples for bank exam letter writing.

Descriptive Letter Writing Format: The descriptive letter writing format for bank exams is provided here for the formal and informal letter types. Aspirants can check the descriptive letter writing format provided in the table given below.

How to Convey My Message?

• Candidates have to plan which type of letter will be presented to them before starting the descriptive letter writing,

If It Is A Formal Descriptive Letter Writing

Formal Descriptive Letter Writing: Due to the official communication purpose it serves, formal letter type is most asked in descriptive writing for bank exams. It is written to both official acquaintances like schools, and colleges, as well as business acquaintances to bank managers, bureaucratic bodies, and other officials for sending official notifications or demands. Let’s check the highlights comprising a formal Letter as follows:

• Candidates must observe whether the body of the content should be addressing complaints, requisition for something, or stating information.
• Mentioning the subject clarifies to the receiver what is defined in the following content.
• The body of the content should be concise information on what needs to be delivered.
• At the end of the content, the aspirant must add a statement to express gratitude or requisition words to make the desired action to be complete.
• It is written for official and semi-official purposes only.
• The tone must be direct and structured with polite & civil language
• Some of the top formal letter descriptive writing formats for bank exams are business letters, order letters, promotional letters, enquiry letters, social letters, etc.

If It Is A Informal Descriptive Letter Writing

If It Is Informal Descriptive Letter Writing: Informal letter writing for bank exams is much easier to write in bank exams and otherwise as they don’t maintain any set of fixed regulations or tone. They are written to family, friends, and even officials for a light-hearted or friendly purpose. Let’s check the highlights comprising an Informal Letter are as follows:

• It is written for unofficial purposes only.
• Its tone can be short, simple, friendly, and even indirect to some extent.
• Some of the most common informal letter descriptive writing formats for bank exams are letters of friendship, apology, congratulations, requests, obituaries, etc.
• Candidates can express their own ideas, wishes, worries …… etc.,
• Candidates need to mention words like hey/hello/how are you? ……..  at the start of the content.

What I should not do?

Candidates can check the things that should not be done while writing the letter writing for IBPS PO 2023.

• The candidate should not use colloquial language in any form.
• Content should not be lengthy.
• The candidate should not use irrespective of words of anybody or any other organization.
• The candidate should not define fake information.
• Should not use impertinent words while suggesting remedies or opinions.

Descriptive Writing for Bank Exams – FAQs

Here we have added some FAQs related to descriptive writing for bank exams for the reference o the candidates.

Q.   How to choose a topic for descriptive essay writing for bank exams?

Candidates need to choose a topic on which sufficient points could be collected at the stipulated time and the topic should be current affairs.

Q. What are the topics asked in descriptive writing for bank exams?

Q. What is formal letter writing?

The formal letter is also known as the official letter and it is written to a respected person, reputed organization, and higher officials.

• Contact – [email protected]

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Services in Banks: Strategies and Plans Essay

• To find inspiration for your paper and overcome writer’s block
• As a source of information (ensure proper referencing)
• As a template for you assignment

Introduction

Literature review, body of the paper: services in banks, bank strategies used to attract and satisfy clients’ needs, new plans for the future.

Services play an extremely essential role in political, economic and social aspects. It is not possible to imagine people’s life without personal, government, business, financial and other services. On a state economics level, service sector is one of the most reliable parts of country GDP. Mutually beneficial service practice strengthens not only interpersonal, but international relationships, as well. Every day, customers want to satisfy their needs from a service provider.

Naturally, the role of bank services in the context of state economics and business can not be underestimated. Bank operations influence macro-economic indices and welfare of society. Worldly recognized first-rate banks of the world, located in Switzerland, the UK, the USA, Japan, France, etc. attract their clients with many-years experience, good reputation, reliability and safety of bank services and operation. Such banks use effective strategies to achieve the customer satisfaction. The aim of the present essay is to reveal the multifaceted nature of bank services through understanding bank strategies and examining the experience of specific banks.

The role of services in people’s life is great. All services are performed for a customer, called to provide his life with comfort, satisfying his needs. Services support and facilitate customer personal life. The essence of a service is to help and do work for someone. Mutually beneficial service providing has become the basis for business, trade, interpersonal and international relationships. There are many people employed in services. According to some researchers, in 2005, there were about 80 % of people in the USA involved in the service sector. The indices of another countries are also notably high: the UK – 77%, Canada – 76%, Germany – 68, 5%, etc. (Fitzsimmons, & Fitzsimmons, 2008). As one may see, services are appreciated and demanded by people.

In the history of human civilization, economic evolution has proved favourable environment created by services. A service offers commodity, and performs delivery function (on customer demand). It has an intangible nature, and customized attribute. Any service should be directed to benefits of both a client (buyer) and a provider (seller). Information technology and innovations are the main sources of service sector growth (Fitzsimmons, & Fitzsimmons, 2008).

Banking and bank services have been in the scope of interest of many researchers. For example, Mullineux and Murinde (2003) dedicated their book to the problem of international banking. Mishra (2010) examined a bank in the context of microeconomics and macroeconomics, and the essence of the financial system, where a bank plays an exceptionally essential role.

Analyzing the works of these and other relevant researchers, one may see that a bank is a complex and unique financial institution that performs numerous functions, and provides a wide range of services to its clients. Being a financial intermediary, a bank can be central (issues governmental money and regulates the money supply), commercial (accepts deposits and channels them into landing activities with the help of capital markets), and savings one (receives customer savings accounts, and pays interest to depositors). In addition, most of people have become clients of retail bank, as it provides its services to general public. A modern bank has so many functions that it is difficult to enumerate them all. In general, a bank “accepts deposits from the public, makes fund available to those who need them, and helps in remittance of money from one place to another” (Mishra, 2010, p. 181.). In other words, a bank deals with money and credit in a different way. This is the main essence of commercial banking.

Bank strategies were in the scope of the researchers, as well. For example, Botten and McManus (1999) described the British Internet-oriented strategy that gave bank clients to make financial operations in a cyberspace. Bank card system gave rise to application of other strategies.

Smart bank card applications technology contributes to electronic financial solutions. The network of Automated Teller Machines (ATM) allowed banks to dispense its services to customers through a Personal Identification number (PIN) and a magnetic card. ATM gave customers an opportunity to be engaged in “receiving and dispensing cash, funds transfer between accounts, balance enquiries, etc.” (Wonglimpiyarat, 2005, p. 6). At the same time, Visa, MasterCard and bank’s ATM networks serve to promote its brand, and spread its services among the world population.

Future of the bank services attracted researchers’ attention. In the 90s, it was evident, that globalization, commercialization and Internet expansion reflected on bank performance. Blery and Michalakapoulos (2006) believe that customer-oriented strategies will be applied in the future. Banks will tend to make services more effective, accessible, time-saving, quality and satisfying. New innovative technologies and additional Internet opportunities will contribute to this process.

Numerous functions of a bank predetermined the presence of range of services to its consumers. According to Mishra, it is possible to differentiate the following principal services. First, it accepts deposits: many people prefer saving their money in banks. This function helps people to earn interests and avoid theft. The presence of different types of accounts allow banks to attract clients’ savings: fixed (money is deposited for a fixed period of time; the rate of interest is high), current (serves businessmen and traders to make payments every day, making them pay incidental charges for a service), saving (encourages and mobilizes small savings with a low rate of interest; the number and amount of withdrawals is limited), recurring (encourages regular savings with interest of maturity of depositions; a rate of interest is relatively high), home safe (promotes saving habits under a special scheme), etc. deposit accounts (Mishra, 2010).

Second, a client may take advantage of loans, becoming debtor of a lending bank. However, loans are granted by a bank, depending on the creditworthiness of the borrowers (depends on clients yearly income). Among various types of loans, there are the following ones: money at call (a short period loan, provided for banks and other financial institutions), cash credit (given to a borrower against his current assets, and allows to withdraw money from time to time), overdraft (a borrower is allowed to withdraw more money than his deposits), discounting of bills of exchange (a popular and self-liquidating loan that gives an opportunity to pay the bill with the help of bank commission), and term loans (medium- and long-term loan that allow the amount to be either paid or credited to the borrower’s account; it must be repaid) (Mishra, 2010).

Credit creation is the following bank service: “a bank has the ability to create credit many times more than its deposits, and this ability to multiple credit creation depends on its cash-reserve ratio” (Mishra, 2010, p. 183). Credit creation is favoured by many people, because it allows to obtain good or service before payment. Promoting cheque system is the other bank service that became popular in the age of business transactions: “through a cheque, the depositor directs the banker to make payment to the payee” (Mishra, 2010, p. 183).

Also, a bank provides a customer with the following agency services: remittance of funds, payment and collection of credit instruments (bills of exchange, cheques, etc.), execution of standing orders (for example, a bank may pay rent on behalf of its clients), sale and purchasing of securities (bonds, stocks, shares, etc.), collection of dividends on shares, income tax consultancy, acting as executor and trustee (preserves its customers’ wills after their death), acting as a correspondent and representative (a bank may get traveller’s tickets, passports, and receive letters on clients’ behalf).

Besides, a bank provides its customers with general utility services: locker facility (valuables and important documents are kept for safe custody in a bank), traveller’s cheques (a customer may travell without the fear of loss and theft of money), letter of credit (used in foreign trade to certify customer’s creditworthiness), collection of statistics (a bank keep important information about country money, industry, commerce, trade, banking; publishes bulletins and journals with research articles), underwriting securities, gift cheques (of various denominations), acting as referee (for seeking information about its customers’ business reputation, financial position, and respectability), and foreign exchange business (by discounting foreign bills of exchange, a bank finances foreign trade) (Mishra, 2010).Nevertheless, people’s daily life suggest the idea that payment services are the most demanded services of a bank that meet customer needs every day.

One of the world financially strength banks in the world that satisfy its clients with practically all possible services, accessible for both general and elite public, is National Bank of Abu Dhabi (NBAD), founded in 1968 (Oxford Business Group, 2007). It has served as a central bank that actively participates in formation of the currency abroad. In 2005, its net profit equaled “$702, 42 m, return on quality of 43, 9% and total assets of $22, 76 bn” (Oxford Business Group, 2007, p. 97). Nationals who live outside the UAE have certain preferences in bank services. In general, the bank offers quick, reliable and secure services, giving an opportunity to take advantage from personal, corporate, and free Internet banking. Provision with personal bar-code, bank archive data, credit cards, currency exchange, time deposits, account opening, online trading are only one of possible services, available there (National Bank of Abu Dhabi, 2011). The researchers believe that

“NBAD is the chief provider of corporate services to business, the government, key public sector institutions, and major corporate groups. Corporate services include cash flow management, foreign exchange, and capital market products and assess management” (Oxford Business Group, 2007, p. 97).

Providing the mentioned services, NBAD keeps up the evolving international market, as well, because the considerable number of its clients is foreigners. This bank is able to meet the needs of growing market owing to its successful and effective development strategies. Also, NBAD has developed the advantageous system of international partnership. For example, Italia and Japan take part in corporate cross-border transactions. The bank has 23 overseas units and banking divisions located in Paris, Cairo, Oman, etc. that constituted the branch network that allow to provide with bank services customers from different corners of the world (Oxford Business Group, 2007).

In general, banking is an important service industry for all countries. In a bank, all customer-provider relationships and interactions are concentrated around services. For this reason, services are the most essential integrative elements of banking. Bank services are appreciated by general public, because they help people to achieve what they want: to buy a good or service, to transact money, to get borrower’s credit, etc. Providing a client with a service, a bank is interested in success, as well: a service produces benefit for a bank (difference between amount of deposits and credit percentage) and additional money supply that plays important role for state economy. When a client comes to a bank to get a certain service (for example, he wants to be accommodated with a loan), it should meet consumer expectations.

According to some researchers, it is reliability, responsiveness, assurance, empathy and tangibles (Fitzsimmons, & Fitzsimmons, 2008). Hence, a bank should have credibility; bear responsibility for services provided. Besides, a client should be assured that a bank is able to provide the needed service on favourable terms. A provider should understand the reason of the demanded service, and demonstrate empathy to the client (in case of a loan, it can be family’s financial necessity owing to back pay, unexpected constrained loss of money, a desire to buy a house or a car). Loan is tangible if a consumer get desirable amount of money before he can repay the debt.

There are many bank strategies called to attract new customers and satisfy their needs. One of them was applied in 1996 by the royal Bank of Scotland. It became the first bank in the UK that offered its clients bank services on the Internet. Since that time, direct banking by PC became possible. It was estimated that about 60 % of the UK population used to pay their bills and check the accounts using a home computer (Botten & McManus, 1999, p. 205). The Internet-oriented strategies of the UK banks allowed internet users to print statement, pill bills, transfer account data into home-banking software package, and take advantage from on-line services and PC banking services (including mobile commerce) (Botten & McManus, 1999).

Bank card innovations of the 1970s gave rise to new competitive strategies in the UK and USA banking sectors. However, the bank card on-line system was quickly extended across the world, because it made bank services (especially, payment ones) accessible and efficient; it notably contributed to electronic commerce that allow to make electronic transactions on the Internet, and buy a product. As one can see on the figure 1 (see appendices), on-line shopping has notable advantages (for example, timesaving capability), in comparison with traditional shopping, that meet modern consumer needs. However, there are some disadvantages, as well (for example, it requires delivery fee) (Fitzsimmons, & Fitzsimmons, 2008).

Nowadays, credit plastic cards, issued by banks, are used every day: they allow to purchase goods and services on credit. Besides, electronic cash currency system proved to be extremely convenient (Wonglimpiyarat, 2005). Credit card and electronic service strategies facilitate the social life: owing to these strategies, people easily make certain banking operations, get cash money from a card, and buy certain goods and services through mobile e-commerce.

Globalization, decreasing customer loyalty, economic volatility, resource outsourcing and other factors made banks to elaborate survival strategies for financial services. The essence of these strategies lies in the following processes: workforce performance improvement, cost reduction, revenue enhancement, return increase, cost-effective activities, integration of up-to-date technologies, etc.

Capitalization of banks plays an extremely important role in bank strategies. Retail banking strategies that practiced in Europe were adopted on the CEE ground. As the internet decreased the customers’ loyalty, banks needed special customer-oriented strategies called to increase bank clients’ loyalty. The loyalty programs that provided special benefits to customers were introduced. Traditionally, cooperative banks possessed “a strong loyalty tool, membership of the bank”.(Groeneveld & Wagemakers, 2004, p. 6).

Besides, Customer Relationship Membership (CRM) systems provide banks with good knowledge of their clients that allow banks to meet their needs. For this reason, many banks used to chose a niche-strategy, and focus on a specific customer need (real estate segment, for example). Retail banking is an extremely competitive industry, for this reason, CRM have certain priorities. Figure 2 (see appendices) shows that three top priorities are customer loyalty, profit growth and client satisfaction (PricewaterhouseCoopers, 2003).

Retail networks are used to sell all kinds of possible products: multidistribution provides with alternative options. For example, multi-channeling strategy, described as “selling products and servicing of clients with different channels, such as branches, ATMs, telephone and internet”, attracts clients with free choice, diversity of channels for different clients, and cost savings. (Groeneveld & Wagemakers, 2004, p. 7). The European largest internet bank, Rabobank, is a virtual distribution channel that offers transaction services on internet-mode technology that allows all users of mobile phones to make bank transaction operations.

Some banks offer other essential strategies that improve customer experience, leverage up-sell and cross-sell opportunities, and promote customer satisfaction. Some of retail bank strategies sound in the following manner: “facilitate integrated and consistent interactions across all channels”, “offer an inviting “Customer Front Door”, “integrate self-service with agent assistance”, etc. (Genesys, 2008, p. 3). On the whole, the strategies mentioned in this part of the essay, are beneficial for both banks and customers; moreover, all of them are called to attract and satisfy customer’s needs in a different way.

CRM systems have proved its effectiveness in aggressive bank competition, and will be used in the future. The strategic importance of CRM is obvious: it helps banks “to build long-lasting relationships with their customers and increase their profits through the right management system and the application of customer-focused strategies” (Blery & Michalakapoulos, 2006, p. 116). The Greek bank and other banks that use CRM system will be able to focus on most profitable customers with the help of efficient segmentation that corresponds to clients’ individual behaviour.

The commercial approach based not only the product but a client, as well, will help to satisfy and retain bank customers. Obviously, more banks will implement voice and phone banking services (loans, stock exchange transactions, etc.) and customer segmentation system (that responds to clients’ needs, interests, habits, etc.), and more clients will take advantage from synchronized networks, offered by banks (branch ATM, Interactive Voice Response, telephone center) (Blery & Michalakapoulos, 2006).

Even modern successful banks are concerned with plans for the future that will bring them more customers, more innovations, and better profit. The research of Oxford business group showed that development strategy of NBAD for the future is directed to expansion and positive innovative changes: installation of new ATM, opening of new branches, provision with first mobile phone banking service in the Middle East and North Africa region (Oxford Business Group, 2007).

Revolutionizing e-commerce is one of the reasons why banking system should be improved and transformed. Internet banking of the future will “reduce transaction costs, enhance customer service, increase the customer base and improve cross-selling opportunities” (Nath et al., 2001, p. 21). The phenomenon of Internet banking can not be underestimated, as it is future of modern society: the number of Internet and PC users grows every day. Online loans, brokerage services, bill payment will be popular clients’ banking activities in cheap cyberspace of electronic banks. Additional and expanded online bank services will be available to clients in private and business life. In addition, “banks are adding real-time loan applications, the ability to make Individual Retirement Account investments, and the opportunity to trade stocks through their web sites” (Nath et al., 2001, p. 26). Thus, the concept of “one-stop shopping” will be wide spread in the future.

Taking into consideration all the information mentioned above, one can make the following conclusion. Bank services serve for the benefit of people, engaged in financial relationship, commerce, business, and other activities. Owing to a great variety of bank services, a customer may deposit, save, transact, exchange, loan money, get a credit card, purchase goods and service via Internet, etc. There are many effective, development and competitive bank strategies used to attract and satisfy clients: customer-oriented strategies, electronic service strategies (Internet-oriented, e-commerce), retail banking strategies (multi-channeling), etc. However, successful future for banks consists in improved, expanded and quality e-banking services that serve for the customer’s benefit in the commerce, business and private life, customer segmentation, increasing and improving clients’ opportunities.

Blery, E., & Michalakapoulos, M. (2006). Customer relationship management: a case study of a Greek bank. Journal of Financial Services Marketing, 11 (2), (pp. 116-124). Web.

Botten, N., & McManus, C. (1999). Competitive Strategies for Service Organizations. Basingstoke, UK: Purdue University Press.

Fitzsimmons, F., & Fitzsimmons, M. (2008). Service Management: Operations, Strategy, and Information Technology (6 th ed.). New York, NY: McGraw-Hill.

Genesys. (2008). Industry strategy guide: customer service strategies for the retail banking industry. Web.

Groeneveld, J., & Wagemakers, J. (2004). Retail bank strategies in Europe. Economic Research Department. Web.

Lele, U. (2000). The World Bank Forest Strategy: Sticking the Right Balance. Washington, DC: World Bank Publications.

Mishra, S. (2010). Engineering Economics and Costing. Philadelphia, PA: PHI Learning.

Mullineux, A., & Murinde, V. (2003). Handbook of International Banking. Cheltenham, UK: Edward Elgar Publishing.

Nath, R., Schrick, P., & Parzinger, M. (2001). Bankers’ perspective on Internet banking . E-Service Journal, 1 (1), (pp. 21-36). Web.

National Bank of Abu Dhabi. Official Website. Web.

Oxford Business Group. (2007). The Report: Abu Dhabi 2007. Dubai, UAE: Oxford Business Group.

PricewaterhouseCoopers. (2003). Tackling the key issues in banking and capital markets. Web.

Wonglimpiyarat, J. (2005). Strategies of Competition in the Bank Card Business: Innovation Management in a Complex Economic Environment. Brighton, BN: Sussex Academic Press.

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Home — Essay Samples — Geography & Travel — Travel and Tourism Industry — The History of Moscow City

The History of Moscow City

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Published: Feb 12, 2019

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Essay on Moscow

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Moscow is the capital and largest city of Russia. It is the fourth largest city in the world, and is the first in size among all European cities.

Moscow was founded in 1147 by Yuri Dolgoruki, a prince of the region. The town lay on important land and water trade routes, and it grew and prospered. During the 1200’s, Tartar invaders from Asia conquered Moscow and other Russian lands.

Moscow grew rapidly during the 1600’s. The czars built palaces in the Kremlin, and nobles built mansions. New churches and monasteries arose, and industries developed. In 1703, Peter the Great began building a new capital at St. Petersburg. But Moscow remained an important center of culture, industry, and trade. In the fall of 1812, invading French Troops under Napoleon I entered Moscow without a struggle. Most of the people had left the city. Soon afterwards, a fire destroyed most of Moscow . After 35 days, the French troops left the city and began a retreat through the snow and cold.

In the 1917 revolution, the government fell to the Bolsheviks. They moved back to Moscow in 1918 capital.

Moscow lies in the north-central part of the European section of Russia. The Moscow River flows through the city. Moscow is built in the shape of a wheel. At the center of the wheel stands the Kremlin. This old fortress is the center of the Russian government. Inside its walls are beautiful cathedrals and palaces, as well as government buildings. Some of them date from the 1400’s.

Red Square lies just outside the Kremlin wall. It took its name in Russian from an old word meaning both beautiful and red. There, huge military parades celebrate special occasions. Thousands of people line up daily at the Lenin Mausoleum to view the preserved body of Lenin.

Opposite the Kremlin on Red Square is GUM, the largest department store. Saint Basil’s Church is also on Red Square. This 400-year-old building is part of the State Historical Museum. The Russia Hotel, one of the world’s largest hotels, faces the Kremlin near Red Square.

Muscovites are proud of their subway system, called the Metro. The city has more than 70 subway stations, which look like palace halls and are the fanciest in the world.

Muscovites have many facilities for recreation. Luzhniki, a huge sports area, includes Lenin Stadium, which can seat about 103,000 persons. Every year, about 7 million people go to Gorki Park, Moscow’s most popular amusement center.

The Bolshoi Theatre presents ballets that many people consider Russia’s highest artistic achievement. Young dancers are trained at the Bolshoi Theatre’s school. The nation’s largest symphony orchestra performs at the Tchaikovsky Conservatory. In addition, Moscow has a number of famous drama theatres, such as the Maly and Moscow Art theatres.

The city has about 150 museums and art galleries. Dazzling treasures that belonged to the czars are displayed in the Armory Museum in the Kremlin.

Moscow State University is the largest university in the country. It was established in 1755, and has more than 30,000 students. Moscow has more than a thousand elementary schools and high schools, and over 80 specialized institutes.

About 3,000 main and branch libraries operate throughout Moscow. The Lenin State Library, the largest library in Russia , has one of the largest collections of books and manuscripts in the world.

Moscow is also the most important industrial city in Russia. Its factories produce a wide variety of products, but chiefly automobiles, buses, and trucks. Other important products include chemical, electrical machinery, measuring instruments, steel, and textiles.

The city is the transportation center of Russia. Moscow has three major airports. The Moscow Canal links the city to the great Volga River.

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