In electrical system the use of "capacitors bank" is correction of power factor, what are the other benefits?

VOLTAGE REGULATION

REACTIVE POWER COMPENSATION

PROTECTION

SWITCHING

recudes the KVAR and which leads to reduction in monthly bill , later life span of power applince improve due to less heating effect.

Capacitors banks also improves the system voltage profiles.

Correction of power factor itself leads to multiple benefits: reduced bill (especially if there is power factor penalty), longer lifespan of your devices, reduces heating in cables due to reactive power demand.

Capacitor bank can also help to provide constant voltage and may even help to support additional load.

effective energy managment

capacitor normally used on LV side to improve power factor. if power factor is near to one your bill will be reduced burning effect will be reduced temperature of cables reduced  

Reduces the size of your transformer. KVA = KW/P.F

reactive power supply