Banks and other financial institutions offer products and services to help you manage your money, but do you know how they work? Here’s a complete guide. Banking is one of the fundamental parts of personal and commercial financial activities, driving economic functions. Banking has helped in the management of finances for individuals, organizations, and governments. The most important purpose of a banking system is to facilitate the smooth flow of cash within the economy. Learn about what banking is, its key functions, types, and importance. Understand how banks facilitate finance and their roles in personal and business finance. Banking is the business of protecting money for others and lending it to generate interest that creates profits for the bank and its customers.
