Banishing prevents certain monsters from activating in the graveyard.
Needs to discard a card to use.
Can only target face-up monsters.
This card is useful against monster that activates it’s effect when sent to the graveyard such as Ultimate Ancient Gear Golem to prevent Ancient Gear Golem being summoned from Graveyard by Ultimate Ancient Gear Golem’s Effect.
Escape form the Dark Dimension, Release from Stone & Spiritual Light Art - Hijiri
Banishing a monster can prevent them from being re-used like Red-Eyes Spirit for a Red-Eyes monster, but targeting your own can also be beneficial if you use cards that can special summon them. They are usually specific to certain deck types but can provide more versatility in certain situations.