Question

.How are deposits with the banks beneficial for both individual and for nation?

Answer 1

if banks take deposit then it is beneficial for nation so that it can give loans to people...and the person who deposited will get interest ...in this way it is beneficial for both individual and nation

Answer 2

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.