How do banks play an important role in the economy of India? Explain
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Answered by
33
They help in many ways:
They create the saving in the economy
They provide money as loans to start up a business or to change the living styles
People gets interest from the bank which increases the sum of money they originally had
They create the saving in the economy
They provide money as loans to start up a business or to change the living styles
People gets interest from the bank which increases the sum of money they originally had
Answered by
8
Of the top 10 banking institutions, 3 are in
China. How did it happen? It happened because Chinese economy was growth at
double digits. So to provide Funds, Chinese Banks grew in order to provide
credit for China's Economic Development.
Same could happen here too if the Indian economy keeps
growing. Consequently, India will need bigger banks to finance its social projects,
its infrastructure funds like Digital India Initiative, Clean India, Teach
India, Bullet Train Projects etc.
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