Question

“Banks are efficient medium of exchange”. Support the statement with arguments.

Answer 1

Because they balances money that is 15 percent for the loans taken by people

Answer 2

We need to support  the sentence with arguments and that is done as under:

• Banks are an efficient medium of exchange but there are many disadvantages too.
• The risk of a bank going bankrupt is high nowadays due to excessive lending that banks engage in.
• The charges imposed by banks are increasing every year.
• Frauds are another main concern as far as banks are concerned.
• Though banks are used as an efficient means of exchange we can never ignore the disadvantages or risks present.
• Nor can we not use banks and use only online ways of transactions, especially in the rural areas.

PROJECT CODE:#SPJ3