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Blank place a significant role of in the economic the India analysis and explain the statement

Posted by Prince Yadav 2 years, 9 months ago

CBSE > Class 10 > Social Science

1 answers

Sumit _Yt 2 years, 9 months ago

Banks play an important role in developing the economy of India by the following ways: 1) Banks keep the money of the people in its safe custody. 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. 5) Banks promote agricultural and industrial sector by providing loans. 6) They also provide funds to different organizations.

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