The Russian banking system is an important part of the country’s financial infrastructure that regulates monetary transactions, provides financial services, and supports economic development. It is a two-tier banking system consisting of the Central Bank of Russia and commercial banks. The Central Bank of the Russian Federation (Bank of Russia) is the highest financial authority responsible for issuing currency, controlling monetary policy, regulating and supervising banks, maintaining financial stability, and managing foreign exchange reserves. It operates independently and plays a key role in ensuring the reliability of the financial sector. The second tier consists of commercial banks and other credit institutions that provide banking services to individuals, businesses, and government organizations. These banks perform various functions such as accepting deposits, providing loans, facilitating payments, offering currency exchange services, and supporting international trade operations. Major Russian commercial banks include Sberbank, VTB Bank, Gazprombank, Alfa-Bank, and Raiffeisenbank Russia. The banking system also includes specialized financial organizations that provide specific services such as investment banking, mortgage lending, and payment services. The Russian banking system has developed significantly after the economic reforms of the 1990s. The transition from a centrally planned economy to a market-oriented economy resulted in the creation of private banks and increased competition in the financial sector. Modern Russian banks use advanced technologies, online banking platforms, mobile applications, and digital payment systems