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
Why is the Legislative Branch first? The Founding Fathers placed a discussion of the Legislative Branch first because the US did not have a balance of powers. This article provides a Congress which contains a senate and House of Reps. Democracy.
