Describe the functions of banks.
Answers
Answered by
2
Explanation:
bank provides information and security of money .
they provide loans at low interest rate
Answered by
3
Banks
Explanation:
Banks and cooperatives form the formal credit sector. They are regulated by the Reserve Bank of India (RBI). Their main function is to facilitate movement of funds and provide safe keeping for your funds. Banks provide loans at low interest rates compared to the informal sector and they require a collateral in most cases. The rich and the urban people have easy access to the formal credit sector as the network is extensive in urban locations than the rural areas.
Similar questions