How are deposits with banks beneficial for the individual as well as for the nation? Explain with examples. (5 marks)
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Answered by
1
after the demonetisation ....... eventually every individual rushes towards the bank
.....a to deposit their "old notes " .... depositing money in the banks makes us get rid of the old money and also helps the nation in a great way by supporting the movement started by narendra modi.... as per it goes to the banks ..... it helps the banks to keep track of the records and ease out the rush and havoc created
..... one can also keep some notes as a relic and laminate them to show your children how the old notes looked like ...... cheers ..... hope it helped☺☺☺☺
.....a to deposit their "old notes " .... depositing money in the banks makes us get rid of the old money and also helps the nation in a great way by supporting the movement started by narendra modi.... as per it goes to the banks ..... it helps the banks to keep track of the records and ease out the rush and havoc created
..... one can also keep some notes as a relic and laminate them to show your children how the old notes looked like ...... cheers ..... hope it helped☺☺☺☺
Answered by
2
The deposits with banks are beneficial for individual as well as for nation :
(i) Banks accept deposit and also pay an amount as interest and in this way people earn money.
(ii) People’s money is safe with banks.
(iii) It is easy for individuals to get credit who have savings and current account in the banks.
(iv) Poor people who are engaged in production need credit.
(v) Credit provided by the banks for government projects help in development of the nation.
(vi) Banks provide loans for the promotion of International trade.
(vii) Development of infrastructure is undertaken with the loans provided by the banks
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