What a bank does

In your book, Our Wondrous World (Chapter 2), Navya and Dada ji walk past a bank that has an ATM. 'What is this machine?' Navya asks. Dada ji tells her that ATM is short for Automated Teller Machine, and it helps us take out money any time we need it.

Banks are special places where money is kept safe. They also help us save money for our future needs.

When Dada ji was young, there were no ATMs. People had to go to the bank and wait in long queues. Today, money can be sent online from a mobile phone in seconds. Navya's Mama (her maternal uncle) sent money to her mother this way, to buy Raksha Bandhan gifts.

A person who keeps money in a bank has a passbook. Its first page shows the bank's name, the account number, the customer's name and the customer's photograph.