Banking - Page 8

Banking is the financial business of accepting deposits from the public, providing loans, and offering financial services such as savings accounts, checking accounts, and investment products. It involves the management of financial transactions and the facilitation of payments between individuals, businesses, and governments. Banks act as intermediaries, connecting savers who deposit money with borrowers who need funds, thereby supporting economic activity. The banking sector encompasses various types of institutions, including commercial banks, investment banks, credit unions, and savings and loan associations. Regulatory bodies oversee banking operations to ensure the stability and security of the financial system.