Question

Goods and services play
an
important role in an economy. Explain.
​

Answer 1

Answer:

Banks play an important role in developing the economy of India by the following ways:

1) Banks keep the money of the people in its safe custody.

1) Banks keep the money of the people in its safe custody. 2) Banks give interest on the deposited money to the people.

1) Banks keep the money of the people in its safe custody. 2) Banks give interest on the deposited money to the people. 3) Banks mediate between those who have surplus money and those who are in need of money.

1) Banks keep the money of the people in its safe custody. 2) Banks give interest on the deposited money to the people. 3) Banks mediate between those who have surplus money and those who are in need of money.4) Banks provide the loan to a large number of people at low-interest rate.

1) Banks keep the money of the people in its safe custody. 2) Banks give interest on the deposited money to the people. 3) Banks mediate between those who have surplus money and those who are in need of money.4) Banks provide the loan to a large number of people at low-interest rate. 5) Banks promote agricultural and industrial sector by providing loans.

1) Banks keep the money of the people in its safe custody. 2) Banks give interest on the deposited money to the people. 3) Banks mediate between those who have surplus money and those who are in need of money.4) Banks provide the loan to a large number of people at low-interest rate. 5) Banks promote agricultural and industrial sector by providing loans. 6) They also provide funds to different organizations.....

Answer 2

Answer:

(i) They keep money of the people in its safe custody. (ii) They give interest on the deposited money to the people. (iii) They mediate between those who have surplus money and those who are in need of money. (iv) They provide loan to large number of people at low interest rate.

Explanation:

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