Question

What are the importance of Bank.

Answer 1

Role / importance of banking . Banks provide funds for the business and play an important of a nation. it acts as an intermediary between people having surplus money and those requiring money for various business activities

Answer 2

Answer:

The importance of banks are as follows:

Banks have a huge role to play in the economy as well as for business purposes.

1. Money transfer in case of any emergency or normal situations.

2. Providing good option for investment and thereby encouraging savings.

3. Provide financial help to people even when they do not have sufficient funds either in the form of loans or by overdraft facility.

4. Also for financing internal and external trade in the country

5. The development of the major sectors of the economy such as health, industries are all dependent on banks.