Why bankers are the essential part in the economic sector of a nation?

Bankers are the essential part in the economic sector of a nation. The economic flow is very much dependable on the banking system.Though banks produce no new capital but their activities like borrowing, lending and allied actions smooth the progress of production, allocation, exchange and consumption of assets. In this fashion we can say that banks are the most helpful friends in the way of economic progress. Nowadays modern banks are so functional for the utilization of the assets of the country. The basic function of a bank is to mobilize the savings of the people. There is no doubt that if there would be no banks then a large number of a capital of the country would stay useless.
For example, if you consider a bank as a heart in the economic structure and the Capital supplied by it is like blood in it. As a result, as long as blood is in flowing the parts of the body will remain active and vigorous. And, if the blood is not circulated to any parts of the body then that part would become paralyzed, so if the financial support remains suspended to agriculture sector or industrial sector, it will surely be damaged. Banks provides various loan facilities to the production houses to maximize their production. So many international transactions have been solved and quantity of transaction has been maximized. There are some essential elements in the banking sector, such as checks, drafts bills of exchange and letters of credit. The duty of bank is to collect these elements from different cities or countries and process according to customers' needs. The definition of a bank differs from nation to nation. According to English ordinary law, a banker is described as an individual who carries on the industry of banking, which is stated as: performing current accounts for his clients, disbursing checks drawn on him, and receiving checks for his clients. Banks take quick review to these elements and take necessary steps as soon as possible. Such as, find the respective clients/accounts, respective cities where they live and make a quick contact with them...Please continue at http://www.financeandfinancial.blogspot.com
Valued readers, if you want to know more about bank, e.g. what is a bank, definition of bank, types of bank, its role, information of all banks around the world, description of each bank of an individual country and much more information about bank and banking sectors,please feel free to visit at http://www.financeandfinancial.blogspot.com
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