BANKING

Banking is the system of financial institutions that provide essential services such as accepting deposits, granting loans, facilitating payments, and offering various financial products like savings accounts and credit cards. Banks play a vital role in the economy by channeling funds from savers to borrowers, supporting individual and business financial needs. In India, the banking sector is diverse, including central, commercial (public and private sector), cooperative, regional rural, small finance, and payments banks, all regulated by the Reserve Bank of India (RBI). Modern banking also incorporates electronic services such as online and mobile banking for greater convenience.