Banking - Page 5

Banking refers to the industry and activities involved in managing financial transactions and services provided by banks and similar institutions. It encompasses a range of functions including accepting deposits, providing loans, facilitating payments, and offering investment products. Banks serve as intermediaries between depositors, who provide funds, and borrowers, who seek financing, thereby playing a crucial role in the economy by supporting credit availability and financial stability. Banking also includes services such as wealth management, currency exchange, and the issuance of debit and credit cards. The sector operates under regulatory frameworks to ensure safety, security, and fairness in the financial system.