Question

Credit or lending from the bank's paly an important role for the growth of the economy. Explain Briefly.

Answer 1

Credit or lending from the banks play an important role for the growth of the economy. Banks charge interests on the credit or lendings which the borrower has to pay. This adds as an income to the bank and add to its economy. Moreover the lendings may help some people to atart up a business or service which also adds to the economic growth.