Question

how do banks play an important role in the economy of India ​

Answer 1

Answer:

Banks play an important role in developing the economy of India : (i) They keep money of the people in its safe custody. ... (iii) They mediate between those who have surplus money and those who are in need of money. (iv) They provide loan to large number of people at low interest rate

Answer 2

Explanation:

THE banks play an important role in the economy of the 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.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.Banks provide loans to people for a variety of purposes.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.Banks provide loans to people for a variety of purposes.Banks charge low interest rate.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.Banks provide loans to people for a variety of purposes.Banks charge low interest rate.Credit provided by banks is crucial for the country’s growth and economy.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.Banks provide loans to people for a variety of purposes.Banks charge low interest rate.Credit provided by banks is crucial for the country’s growth and economy.Banks boost the industrial sector by providing cheap loans.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.Banks provide loans to people for a variety of purposes.Banks charge low interest rate.Credit provided by banks is crucial for the country’s growth and economy.Banks boost the industrial sector by providing cheap loans.They are the backbone of the country’s trade.
• 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 give interest on the money deposited by the people. Thus, they add to the income of the family.Many families survive on the bank interest.Banks provide loans to people for a variety of purposes.Banks charge low interest rate.Credit provided by banks is crucial for the country’s growth and economy.Banks boost the industrial sector by providing cheap loans.They are the backbone of the country’s trade.Banks employ a large number of people and as such they solve the employment to some extent