The banking system and financial institutions play a very significant role in the economy. First and foremost is in the form of catering to the need of credit for all the sections of society. The modern economies in the world have developed primarily by making best use of the credit availability in their systems. An efficient banking system must cater to the needs of high end investors by making available high amounts of capital for big projects in the industrial infrastructure and service sectors.
Financial institutions offer a wide range of products and services for individual and commercial clients. The specific services offered vary widely between different types of financial institutions. Banks and similar business entities such as thrifts or credit unions offer the most commonly recognised and frequently used financial services like checking and savings accounts certificates of deposit (CDs) home mortgages and other types of loans for retail and commercial customers. Through means such as credit cards wire transfers letters of credit and currency exchange banks act as payment agents facilitating financial transactions between consumers and businesses or between companies.
This book will be of interest to research bankers and policy makers dealing with problem of banking sector in the country.
