Question

what is credit explain how credit is created through banks

Answer 1

Hey dear here is your answer
Credit means loan that we take from banks.
The credit can be taken from the bank when you have a colletral and borrower ensure bank that it wiil return there money on the time.
Hope it helps ☺

Answer 2

hey... here's ur ans.
1. credit means an agreement in which the lender supplies the borrower with money...good..or services.
2.the borrower promises to return the loan in future on agreed terms..
3. it is created by banks on interest.

hope it helps!!