explain the important of banks
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Purpose of Banks. Abank is a financial institution which is involved in borrowing and lending money.Banks take customer deposits in return for paying customers an annual interest payment. The bankthen uses the majority of these deposits to lend to other customers for a variety of loans
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❤✨ᴄᴏᴍᴍᴇʀᴄɪᴀʟ ʙᴀɴᴋs ᴘʟᴀʏ ᴀɴ ɪᴍᴘᴏʀᴛᴀɴᴛ ʀᴏʟᴇ ɪɴ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ sʏsᴛᴇᴍ ᴀɴᴅ ᴛʜᴇ ᴇᴄᴏɴᴏᴍʏ. ᴀs ᴀ ᴋᴇʏ ᴄᴏᴍᴘᴏɴᴇɴᴛ ᴏғ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ sʏsᴛᴇᴍ, ʙᴀɴᴋs ᴀʟʟᴏᴄᴀᴛᴇ ғᴜɴᴅs ғʀᴏᴍ sᴀᴠᴇʀs ᴛᴏ ʙᴏʀʀᴏᴡᴇʀs ɪɴ ᴀɴ ᴇғғɪᴄɪᴇɴᴛ ᴍᴀɴɴᴇʀ. ... ᴛʜᴇsᴇ ғɪɴᴀɴᴄɪᴀʟ sᴇʀᴠɪᴄᴇs ʜᴇʟᴘ ᴛᴏ ᴍᴀᴋᴇ ᴛʜᴇ ᴏᴠᴇʀᴀʟʟ ᴇᴄᴏɴᴏᴍʏ ᴍᴏʀᴇ ᴇғғɪᴄɪᴇɴᴛ.✨❤
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