How are deposits with the bank beneficial for individual as well as for the nation? Explain with examples.
Answers
Answered by
307
bank deposits are beneficial for the individual as
1. his amount is safe and secure
2. he gets an annual or monthly interest which adds on too his amount
this increases his savings and in turn his standard of living. as a result the HDI rank of the nation increases and also the PCI. Thus the national average income increases, increasing the national ecconomy.
1. his amount is safe and secure
2. he gets an annual or monthly interest which adds on too his amount
this increases his savings and in turn his standard of living. as a result the HDI rank of the nation increases and also the PCI. Thus the national average income increases, increasing the national ecconomy.
joy211100:
plz mark it brainliest( if possible)
what's HDI and PCI
Answered by
82
According to individual the money is safer and no need to worry at all it is so formal and gives some interest to the depositors morewhile the interest rate is also less
Now to the banks or for a nation it brings integration of all people and the difference of the money with depositors and borrowers fetch more money to the nation.
Now to the banks or for a nation it brings integration of all people and the difference of the money with depositors and borrowers fetch more money to the nation.
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