Banking is very important for the business or an economy. It is a financial institution that is involved as payment agent for customers and facilitates borrowing and lending of money also.
Banking is important to business because businesses deposit their extra money here. This way their money is not only safe but also earns interest for them. On the other hand, businesses can borrow money from banks when they need to invest in their businesses.
Apart from that Banks also act as guarantee giver in case of creditors and suppliers.