Commercial Banks
Commercial banks are financial institutions that provide a range of services to individuals and businesses. They accept deposits, which customers can withdraw or earn interest on, and they offer loans to those who need funds for projects or expenses. By managing deposits and loans, banks facilitate money flow in the economy. They also provide services like checking accounts, savings accounts, and credit cards. Commercial banks play a key role in financial markets by helping to allocate funds efficiently, supporting economic growth, and providing a secure place for people to save their money.
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Commercial banks are financial institutions that provide a range of services to individuals and businesses, including accepting deposits, offering loans, and facilitating transactions. They help people save money securely and earn interest on their deposits while providing loans for purposes such as buying homes or funding businesses. Banks earn revenue from the interest on loans and service fees, playing a crucial role in the economy by enabling the flow of money and supporting economic growth. They are regulated by government authorities to ensure safety and stability in the financial system.