Banking is the business of protecting money for others and lending it to generate interest that creates profits for the bank and its customers. Banking encompasses all financial transactions and services a bank provides to its customers. These services include receiving deposits, offering loans, facilitating financial transactions, and providing tools like safe deposit boxes, currency exchange, and wealth management. Banking is an industry that handles cash, credit, and other financial transactions for individual consumers and businesses alike. Banking provides the liquidity needed for families and businesses to invest in the future, and is one of the key drivers of the U.S. economy. What is Banking? Banking is directly or indirectly connected with the trade of a country and the life of each individual. It is an industry that manages credit, cash, and other financial transactions. In banking, the commercial bank is the most influential institution for any country’s economy or for providing any credit to its customers. In India, a banking company is responsible for transacting all the business transactions including withdrawal of cheques, payments, investments, etc. In ...
