Correct the following statement and rewrite:
Banks use only a small portion of the deposits to extend loans.
(or)
Expensive and unaffordable credit is crucial for the country's development.
Answers
Answered by
0
Answer:
Answer: Major portion of the deposits is used by banks for extending loans to borrowers. Some portion is used as cash reserve ratio with the RBI. Some portion of money is used as statutory liquid ratio deposit with the bank itself as set by RBI.07-Apr-2020
Cheap and affordable credit is crucial for the country's development due to the following factors: More lending would lead to higher incomes and encourage people to invest in agriculture, engage in business and set up small scale industries.
Similar questions