Modern banking plays a visit role in the economic development of the country. Explain -5 marks Plz answer fast
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A bank is an institution which accepts deposits from public for the purpose of lending and investment .
As the progress of business activity is fully linked with the credit system of a country bank credit helps business to fulfil their needs for raw materials , working capital etc.
Banks also help the farmers and poor who are in need of money and the increase in the income of all these people increase the national income.
Therfore, banks play an important role in the economy of a country through credit. hope it helps you!!
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