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What is the purpose/function of banks in our society and economy???

User Meiamsome
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16 votes

Answer:

Although banks do many things, their primary role is to take in funds—called deposits—from those with money, pool them, and lend them to those who need funds. Banks are intermediaries between depositors (who lend money to the bank) and borrowers (to whom the bank lends money).

User Kevinhyunilkim
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