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This is known as social infrastructure. These are called social because they are used by all people in a country and are often paid for by the country or the state owns the land on which they are built. When they are private, they often work together with the government.
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It gives the reader more facts to go off of and can educate them more on the topic of the writing.
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The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. ... Thus, the banks play an important role in the creation of new capital (or capital formation) in a country and thus help the growth process.
Explanation:
Banks play an important role in capital formation, which is essential for the economic development of a country. They mobilize the small savings of the people scattered over a wide area through their network of branches all over the country and make it available for productive purposes
