Deposit Money Banks

Deposit Money Banks are financial institutions that accept deposits from individuals and businesses, providing a safe place for customers to store their money. They offer various services, including checking and savings accounts, loans, and credit facilities. By pooling these deposits, banks can lend money to others, earning interest, which helps to grow the economy. In return, they often pay interest to depositors. Deposit Money Banks play a crucial role in the financial system by facilitating transactions, providing credit, and contributing to economic stability and growth.