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Understanding Modern Banking: An Overview
Banking plays a vital role in the global economic system, acting as the backbone that supports financial stability, economic growth, and everyday transactions. From safeguarding money to enabling large-scale investments, modern banks serve individuals, businesses, and governments through a wide range of financial services.
At its core, banking involves accepting deposits, offering loans, and facilitating the smooth flow of money within an economy. By encouraging people to save and by providing credit for consumption and business expansion, banks help in balancing financial needs across society. Over time, banking has evolved significantly—shifting from traditional brick-and-mortar institutions to sophisticated digital platforms that offer seamless and secure financial services.
