Introduction to Banks

Banks are institutions of finance that offer a range of financial services to people, companies, and governments. Banks' main duties are to take consumer deposits and lend money to borrowers. In addition, banks provide other services like credit cards, foreign exchange, and investment products. By serving as a middleman between savers and borrowers, they make it simpler for consumers to get the money they require. By promoting economic growth and development through the supply of loans and other financial services, banks play a crucial role in the economy. To maintain the stability and safety of the financial system, the banking sector is regulated. Making wise financial decisions requires having a basic understanding of how banks operate and the services they provide.