10. What is the main source of income for banks?
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The main source of income for banks is the difference between interest rate charged from borrowers and what is paid to depositors. After keeping a portion of deposits as reserves banks lend to people who demand money as loan and bank charges interest from them.
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the difference between interest rates charged from borrowers and what is paid to depositors after keeping a portion of deposits and reserves banks lend to people who demand money as loan and bank charges interest from them
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