What is meant by Bank,Banking,Credit,letter of credit etc

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Banking involves financial institutions providing services such as deposits, loans, and investments to customers.

A bank is a financial institution that accepts deposits from the public and creates credit.
Banking refers to the activities carried out by banks, including accepting deposits, lending money, and providing financial services.
Credit is the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
A letter of credit is a document issued by a bank guaranteeing payment to a seller on behalf of a buyer.
Banking also involves services such as wealth management, foreign exchange, and investment banking.

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