Question

few samples of money and role of banking in India economy

Answer 1

banking system play's a very significant role in the economy of a country. It is central to a nation's economy as it caters to the needs of credit for all the sections of the society.towards the beginning of the 20 century with the onset of modern industry in our country. the need for government- regulated banking system was felt . The British government began to pay attention towards the need for an organized banking sector in the country and the reserve Bank of India was set up to regulate the formal banking sector in the country.india is not only the world's largest independent democracy but also an emerging economic giant . without a sound and effective banking system, no country can have a health economy.