Question

write a long note on the role of bank in the economic development of a country 250 words​

Answer 1

Answer:

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Explanation:

The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. ... Thus, the banks play an important role in the creation of new capital (or capital formation) in a country and thus help the growth process.

Answer 2

Answer:

Banks play an important role in capital formation, which is essential for the economic development of a country. They mobilize the small savings of the people scattered over a wide area through their network of branches all over the country and make it available for productive purposes.