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Banks play a crucial role in the economy by providing financial services to individuals, businesses, and governments. They serve as intermediaries between savers and borrowers, accepting deposits from customers and lending money to those in need. Banks also facilitate transactions, such as issuing credit cards, processing payments, and transferring funds. Additionally, they offer various financial products and services, including loans, mortgages, investment opportunities, and insurance. Overall, banks contribute to the stability and growth of the economy by promoting savings, facilitating economic activities, and managing risks.