banks are efficient medium of exchange
explain with arguments
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wнy do тнe мoveмenт oғ goodѕ and ѕervιceѕ ғroм one place тo anoтнer reqυιre ғaѕт and eғғιcιenт мeanѕ oғ тranѕporт. eхplaιn wιтн eхaмpleѕ.
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Banks are efficient medium of exchange because bank granted credits for different commercial activities Banks hold only a small balance of the deposits with them as security. Whereas, these securities are managed to satisfy the loan obligation. Bank acts as intermediates among those who have excess funds and those who are in requirement of the funds.
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