Role of Banks in the Economy?

Answer

The roles of banks in the economy are that of a storehouse for money, the lending of money, and the investing of money. Banks are responsible for holding money in savings, checking, and money market accounts for clients. In this manner they complete their duty as a storehouse. They fulfill they obligation of lender by offering lines of credit to businesses and private clients alike for business expansion, car loans, and other purposes. As an investment entity the banks allow clients to invest in other business to grow their own money. This is a bit of a simplistic approach but covers the common purposes, or roles, of banks in the economy.
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