Banking

Banking refers to the business of accepting deposits from the public, providing loans, and offering financial services. It encompasses a range of institutions that manage money, such as commercial banks, investment banks, savings banks, and credit unions. Banking plays a crucial role in the economy by facilitating financial transactions, providing a safe place for individuals and businesses to store their funds, and enabling access to credit to promote spending and investment. Key functions of banking include accepting deposits, issuing loans, transferring funds, offering payment services, and managing financial assets. Banks also provide additional services such as wealth management, currency exchange, and financial advisory. Overall, banking serves as a fundamental component of the financial system, enabling economic activity and stability.