The Role Of Commercial Banks For The Rural Development

In modern times, banks are seen as essential and important parts of every economy. They are an important part of a country's rapid and all-around economic growth, especially in a developing economy like India. They act as an "engine for economic growth" by providing many different services. In the developed countries of the world, banks and economic activities are so closely connected that most economic transactions are done with bank money or credit money. In fact, it's hard to imagine how a modern economy could work without a good banking system. Banks have been called the "core" of the country's financial system for a good reason. Banks take money from the public and then lend it out or invest it. They not only provide services to customers, but their actions also have a direct effect on the amount of production, distribution, consumption, jobs, income, etc.