The banking system encompasses a network of financial institutions that provide various services such as accepting deposits, lending money, facilitating transactions, and religions guide offering financial advice. It plays a crucial role in the economy by mobilizing funds from savers to borrowers, promoting economic growth, and facilitating the efficient allocation of resources. Major components of the banking system include commercial banks, investment banks, credit unions, and central banks, each serving distinct roles within the financial ecosystem.
The banking system encompasses a network of financial institutions that provide various services such as accepting deposits, lending money, facilitating transactions, and religions guide offering financial advice. It plays a crucial role in the economy by mobilizing funds from savers to borrowers, promoting economic growth, and facilitating the efficient allocation of resources. Major components of the banking system include commercial banks, investment banks, credit unions, and central banks, each serving distinct roles within the financial ecosystem.
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