Question

Deposits with the banks are beneficial to the depositers as well as to the nation. Examine the statement.

Answer 1

 The deposits with banks beneficial for individual as well as for nation :(a) Banks accept deposit and also pay an amount as interest and in this way people earn money.(b) People’s money is safe with banks.[c) It is easy for individuals to get credit who have savings and current account in the banks.(d) Poor people who are engaged in production need credit.(e) Credit provided by the banks for government projects help in development of the nation.(f) Banks provide loans for the promotion of international trade.(g) Development of infrastructure is undertaken with the loans provided by the banks.

Answer 2

demand deposit is essential for individual as it allows to keep the money at a safer place and also do savings for future.for example if you get your salary in begining of month as cash you wont be able to save it also it will be spent quite early.also by keeping money in bamks one can see increase rate in the money by the additional interest provided by the bank

as far as country is concerned it helps in the way that money deposited in banks could be used to provide loans to those who require it and thus by giving loans many employment opportunities increase contributing in countrys economy.