Explain with example, how people are involved with the banks.
Answers
Answer:
Banks provide various facilities to the people. They act as safeguards of the money of the general public and help in saving the money for the safe custody of the banking system. The banks in return also provide a certain rate of interest on such deposits and help people in increasing the value of the money saved.
Explanation:
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Answer:People are involved with banks in the following ways:
1. Depositors, means the people with excess money deposit their money in the banks for the safety of their money.
2. At the same time people who want money borrows it from bank by providing some time till which he would return the money back along with the interest rate.
3. Some part of these interest rate is kept with bank for the salary, maintenance, etc and some part for adding money to the depositor’s account.
By this people are involved with the bank
Explanation: