Establishing Modern Day Banking System

The banking system is an integral part of modern life. It plays a critical role in the world economy and is responsible for handling and processing financial transactions of various sorts. It is the backbone of the global economy, with most of the world’s transactions passing through the banking system. Over the years, the banking system has evolved to keep up with the changing times, adapting to new technologies and new regulations. In recent years, digitization has emerged as a major force in the banking system, revolutionizing how financial institutions conduct business and how customers interact with their banks.

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