Axis Bank Visit

Students of Class VII visited Axis Bank, Palam Branch on 22nd January, 2018 as an entry event to the topic ‘Percentages’. Anushree Ma’am took the group to various counters and explained the services provided by the bank. She told the students that a bank is a financial institution involved in borrowing and lending money. Students also learnt that banks accept deposits from customers offering them interest in return. Banks use this money to give loans to people desirous of availing a loan. The difference between the interest paid to the deposit holders and the interest charged from people who take loans is the profit margin of the banks. The students were then able to relate to the concept how the savings accumulated in the society can be utilized for the economic advancement of the nation as a whole. Mr Rounak, the Sales Manager, explained to the students that banks act as intermediaries between the people who have surplus savings and the people who require loans/financial assistance. In that way banks play an important role in the economy by offering a service to people. Similarly banks also play an important role in offering finance to businesses who wish to invest and improve their commercial activities. This results in the development and advancement of the national economy as a whole. The team from Axis Bank answered the queries of the students, satisfying their curiosity and also encouraged them to explore and learn more about different banks.