Question

Banks play an important role in the economy of India. Give an example.​

Answer 1

Answer:

Banks play an important role in developing the economy of India: (i) They keep money of the people in its safe custody. ... (iii) They mediate between those who have surplus money and those who are in need of money. (iv) They provide loan to large number of people at low interest rate.

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Answer 2

Answer

banks play an important role in the economy of India as for offering a service for people wishing to save. Banks also play an important role in offering finance to businesses who wish to invest and expand. These loans and business investment are important for enabling economic growth.

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