Question

Babanrao deposits his money in a nationalized bank. identify and explain the concept ​

Answer 1

Answer:store of value

Explanation:

Money act as a store of value. Money not only satisfies wants in the present but also make provision for satisfaction of want in future. This is possible due to savings. According to Lord J. M. Keynes, 'money is link between the present and future

Answer 2

Babanrao deposited his money in a nationalized bank, and this means that the bank has public ownership by the government.  

Explanation:  

• When governments buy out the private assets of the banks thereby turning them into public assets, it leads to the banks attaining public ownership.
• This is known as the nationalization. In India banks like State Bank of India, Canara Bank, Indian Overseas Bank, Bank of India are a few of the nationalized banks that are all governed by the Reserve Bank of India.

Learn more about Nationalized banks:

How nationalized banks has contributed to the growth of economy in india?

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Banks were nationalised in 1969.Give reasons

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