Question

how do banks play an important role in the economy of india?explain three points.​

Answer 1

Here is your answer

Banks play an important role in the economy:  

1. They only keep about 15% of the deposits as cash. The rest is used to give loans to various people.

2. Loans are required for various economic activities as well as investments, Banks mediate between people having surplus cash and those in need of it.  

3. They give interest to the depositors and they charge interest on those taking loans from the banks. The difference between the interest rates is the main income of the bank.

Hope it helps you

Answer 2

banks play an important role in the economy:

# the banks keep the money of the people in safe custody

# give interest on the money deposited by the people. thus, they increase the income of the depositer

# they mediate between those who have surplus money and those who are in need of this money

# provide loans at lower interest rate

# boost the industrial sector

#banks r the backbone of the country's trade

## best of the three u can choose

hope it helps u