Can there be any difficulties or disadvantages in keeping money in a bank? Think and
write.
SCERT Telangana Class 8 Social Science Ch 7 Money and Banking
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Though there are more advantages than disadvantages in keeping money in a bank there are some drawbacks. The returns on the money deposited in a bank is much lower than the one earned in an open market. Markets pay much better returns but with some risk factors depending on the choice of investment. Banks need physical deposit and withdrawal though things have much improved currently with online payments and receipts
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They are both advantages and disadvantages in keeping money in bank. If we invest our money in share market, there may be profit. There is risk in this share market. The advantage of the bank is that they store money safely. The disadvantage is that is there is risk of loss of our money if the bank is private.
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