how do bank mediate between those who have surplus money and those who need money ?
n.c.e.r.t class 10 chapter 3 money and creadit s.st
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Answer:
banks work under guidelines of reserve Bank of India, repo rate or reverse report.
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Explanation:
A bank mediates between those who have surplus money and those who need money by allowing both to open accounts with i.. Those with surplus money are encouraged to invest with the bank and are paid a certain rate of interest for the same. Those who need loans are required to pay an interest on their loans.
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