"Deposit with banks are beneficial to the bank as well as to the nation" Examine the statement
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Explanation:
Deposits with banks are beneficial to the depositor as well as to the nation because
1. Depositors are able to save their money and earn interest.
2. Deposits are lent out to borrowers.
3. The loans are used for investment.
4. Investment increase GDP.
5. Higher GDP leads to more jobs.
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