Respuesta :
Young individuals can keep their money safe in the banks. By placing it there, the money earns interest for saving money.
A bank is a financial institution that is authorized to accept deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and secure deposit boxes. There are different types of banks such as retail banks, commercial or corporate banks, and investment banks.
Commercial banks offer a variety of services such as collecting checks, bills of exchange, and transferring money from one place to another. There are three types of commercial banks. H. Public Sector Banks, Private Sector Banks, and Foreign Banks. 3.
A banking system refers to the network of institutions that provide banking services. The banking system works by controlling the flow of money into the economy, earning interest on loans, investing profitably, and charging account maintenance fees.
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