Question

What is the primary role of our banking system?

Answer 1

The primary role of our banking system are discussed below.

Step-by-step explanation:

The primary role of our banking system

• The main functions of the banking system or banks are to deposit and lending loans.
• The central bank is the head of all the banks or could say the father of all other banks.
• The central bank plays a leading role in the banking system it organizes, runs, supervises, regulates and develops the banking system of the country.

Answer 2

See explanation section

Step-by-step explanation:

The primary role of the banking system is to accept deposits from the general public so that the money can be given as a loan to the public in an effective way to foster the economy. It is the safest platform where people keep their money to get a bonus while people borrow money to continue operating.