Banking System

The banking system refers to a network of institutions that accept deposits from the public, provide loans, and offer financial services. Banks play a crucial role in the economy by facilitating transactions, managing money, and providing credit. They help individuals and businesses save money, access funds for purchases or investments, and transfer money safely. Banks are regulated by governments to ensure stability and protect consumers. Essentially, they act as intermediaries between savers and borrowers, promoting economic growth and financial security within a society.