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Question
What is the need and importance of banks?
What is the need and importance of banks?
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Solution
Banks are needed to offer loans to consumers and businesses. Banks are needed for society and a well functioning modern financial system. Banks are needed for safely depositing the earnings and savings of people and institutions. Banks are needed for carrying out any financial transaction between people, organisations and governments.
Banks are needed to offer loans to consumers and businesses. Banks are needed for society and a well functioning modern financial system. Banks are needed for safely depositing the earnings and savings of people and institutions. Banks are needed for carrying out any financial transaction between people, organisations and governments.
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