How is bank helpful in improving Indian economy

1.	How is bank helpful in improving Indian economy
Answer» THE banks play an important role in the economy of the country:\tBanks help people to save their money in safe custody. To save their money, people deposit their money with banks.\tBanks give interest on the money deposited by the people. Thus, they add to the income of the family.\tMany families survive on the bank interest.\tBanks provide loans to people for a variety of purposes.\tBanks charge low interest rate.\tCredit provided by banks is crucial for the country’s growth and economy.\tBanks boost the industrial sector by providing cheap loans.\tThey are the backbone of the country’s trade.\tBanks employ a large number of people and as such they solve the employment to some extent. Bank increase the interest of people to do any business by giving loans. Due to having money people are able to fulfil their demands occurred in that work. Bank keep ours money safe and secure.

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