What is the role of banks??????
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bank take interest from the borrower , bank take the saving funds from the borrower and banks pprovide credit ,locker facility etc
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Banks accept money from the public and use it to provide loans and advances to them. They pay interest from twh they borrow. After keeping a portion of deposits as reserves, banks lend money to people and charge interest from them. They charge a highest interest rate on loans than what they offer on deposits. The difference between the two is their main source of income.
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Banks accept money from the public and use it to provide loans and advances to them. They pay interest from twh they borrow. After keeping a portion of deposits as reserves, banks lend money to people and charge interest from them. They charge a highest interest rate on loans than what they offer on deposits. The difference between the two is their main source of income.
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Explanation:
Role of banks in the economy. Banksaccept deposits and make loans and derive a profit from the difference in the interest rates paid and charged to depositors and borrowers respectively. ... The bank is the most important financial intermediary in the economy as it connects surplus and deficit economic agents.
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