Bank is such an organization which increases the flow of trading, business & commerce through safety & secured collection, transfer consigning & loan providing of deposited money of general peoples. The importance and role of bank are given below -
1. Collection of savings of general people.
2. Capital supply to productive purpose.
3. Preserving money as safe custody.
4. Money transfer.
5. Creation of exchange medium.
6. Assist in trade & commerce.
7. Issuing credit.
8. Creation of credit & deposits.
9. Credit control.
10. Assist in production.
11. Information supply & advising.
12. Agriculture development.
13. Industrial development.
14. Increasing of govt revenue.
15. Employment.
16. Development of living standard.
17. Control of foreign exchange.
18. Decreasing deflation.
19. Creation of loan- deposits.
20. Establishing economic stability.
21.Assist to determine financial policy.
At last we can say that the significance & functions of modern banks are so enormous that we can't imagine the existence of the present society without banks.
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