Question

Discuss the socio-economic issues that challenge the social responsibility of a bank

Answer 1

Answer:

A bank is a financial institution, where people save their money for getting a return of some money from the bank as interest on the amount deposited in the bank. And bank earns by providing loan to people in a much more higher rate of interest.

Explanation:

Many times the socio-economic balance gets dis balanced which causes a loss to the banking sector, but the issue is that though banks are unable to run there business, as a social responsibility they keep on giving interest to there customers, because there are many aged people who rely only on the interest they get from bank.