English Essay, Paragraph, Speech on “Bank Day – 1st July” Complete Essay for Class 8, 9, 10 and 12 Students for Exam.

Bank Day – 1^st July

Bank Day is celebrated on 1st July every year. Banks are those institutions, where one can keep money in the form of deposits and can also borrow money on payment of interest with certain conditions.

In the beginning, the Britishers started and opened Imperial banks for the benefit of the masses. But after Indian Independence, Indian leaders felt the need of state banks for the development of newly freed countries from the deep-rooted slavery of Britishers. Hence the Imperial banks were converted into the state Bank of India (S.B.I.) by Parliament Enactment on 1st July 1955. Hence Bank Day is celebrated on 1st July to highlight the benefits of banking. S.B.I. has provided banking structure and facilities even in rural areas of the country. It has provided the following facilities to the people.

1. Transferring money from one place to another.
2. Receiving money for public utility services such as electricity, water, and telephone bills, house tax and income tax, etc.
3. Renting safe deposit lockers.
4. Insuring, travellers cheques, demand drafts.
5. Providing foreign currency to tourists.

Banking Day coincides with many social activities like tree plantation for a good environment, blood donation for the sick. These activities symbolises their concern for the society.

“Banks…..Banks everywhere, to provide safety and service affair.”