What is banking, and what are its benefits in India?

Banking is the industry and practice of offering financial services, such as collecting deposits, lending money, and assisting with financial transactions. Banks are essential for the economy as they give individuals and businesses access to important financial products and services like savings and checking accounts, loans, and investment options. India’s banking industry offers a large and evolving market, allowing for financial inclusion, digital banking, and investment in one of the globe’s fastest-growing economies.