Economy, asked by kritirajawat, 10 months ago

'bank is the foundation of modern trade and industries ', comment.​

Answers

Answered by genius9655
4

Answer:

the bank is foundation for all modren trades and industrial marketing because it gives loans and insurance to the marketing industrial action

Answered by AmulGupta
2

Bank is the foundation of modern trade and industries as :

  • They provide the initial funds to gather resources at the starting of a business.
  • Commercial banks help in arranging capital from the public.
  • They also help exporters by collecting money for them through importers.
  • They perform tasks like collection of cheques, discounting of bills, remittance of funds, providing credit and overdraft facilities, giving loans and advances for traders and businessmen.
  • They channelize savings of individuals to manufacturers.
  • They manage the commercial activities.
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