deposits with banks are beneficial to borrowes but als to nation. explain
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The deposits with the banks are beneficial to the depositors because of the following reason
(i) Safety
(ii) Earn Interest .
(iii) Can make payment easily through cheques Benefits of Bank deposits to the nation are
(i) Availability of cheap loans (with more deposits) to large number of people.
(ii) Boost the industry by providing cheap loans.
(iii) The interest rate provided on deposits add to the income of the family, thus increasing overall income of the nation.
From the above points, it can be concluded that deposits with the banks are beneficial to the depositors as well as to the nation.
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