Question

How do banks play an important role inthe economy of india

Answer 1

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➤ Banks play an important role in developing the economy of India by the following ways: ... 2) Banks give interest on the deposited money to the people. 3) Banks mediate between those who have surplus money and those who are in need of money. 4) Banks provide the loan to a large number of people at low-interest rate.

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Answer 2

Answer:

1. They keep money of the people in it's safe coustody.

2. Provide the loans to a large number of people at low interest rate.

3. Promote agricultural and industrial sector by providing loans.

Explanation:

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