Question

how do banks play a crucial role in the development of a country ​

Answer 1

Answer:

how do banks play a crucial role in the development of a country

THE banks play an important role in the economy of the country: Banks help people to save their money in safe custody. To save their money, people deposit their money with banks. ... Banks boost the industrial sector by providing cheap loans.

Answer 2

Answer:

Hey mate here's your answer.

Explanation:

Banks play a very crucial role in the development of a country in following ways:

1. They provide loans at a cheaper rate of interest than moneylenders that are in the informal sector.
2. People can take loans for a variety of purposes and at a reasonable interest rate.
3. It helps in the development of the economy of a country.
4. It provides loans and services to the people and in turn leads to capital formation.
5. It helps the rural poor to realease their mortgaged land.
6. The loans given by the bank are meant to create self employment opportunities.
7. Small-scale buisness mans can take loan to finish an order and make profit.

Hope it helps you.

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