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Why are banks important to the economy of a country?
Banks are financial institutions that lend money and accept deposits from general public. Banks maintain the flow of money in the country and are important for its economic growth. There are different types of banks that offer different kinds of services to individuals as well as businesses. Here are the various types of banks and their functions:
Who are some of the most famous banking dynasties?
The Fuggers, the Medicis, the Berenbergs, the Rothschilds are among some of the banking dynasties that are known to play a central role in the history of banking. They dominated this sector for centuries. Modern banking services such as issuance of banknotes and reserve banking started in the 17 th century.
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Last Update: Oct 2021
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21.10.2021 05:26
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