For the efficient running of the business, banking facilities play an important role.
This is a text from my textbook. In my opinion, if we remove the bolded the from the quoted text then the sentence will sound better. I believe the in that place signifies that we are talking about particular “efficient running”, and not “efficient running” in general terms [in the original context, we are not talking about specific efficient running]. Is my interpretation correct about the superfluous use of the definite article in the quoted text? Do we really need the definite article there?