how do bank play important role in economy of india
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Answered by
7
A bank is an institution which accepts deposits from public for the purpose of lending and investment .
As the progress of business activity is fully linked with the credit system of a country bank credit helps business to fulfil their needs for raw materials , working capital etc.
Banks also help the farmers and poor who are in need of money and the increase in the income of all these people increase the national income.
Therfore, banks play an important role in the economy of a country through credit.
As the progress of business activity is fully linked with the credit system of a country bank credit helps business to fulfil their needs for raw materials , working capital etc.
Banks also help the farmers and poor who are in need of money and the increase in the income of all these people increase the national income.
Therfore, banks play an important role in the economy of a country through credit.
Answered by
2
Banks play a very important role in the Indian Economy as they provide Credit at cheaper rates to people.
Banks help people to save their money and receive an added advantage by getting an extra amount, That is for saving the money in their bank, the depositor gets a % of it added in his bank account.
i hope this is enough
plz mark me as the brainliest
Banks help people to save their money and receive an added advantage by getting an extra amount, That is for saving the money in their bank, the depositor gets a % of it added in his bank account.
i hope this is enough
plz mark me as the brainliest
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