Q. 65.0( 3 Votes )

What do banks do

Answer :

Banks use most of the deposits to extend loans to people.


Note:


Banks pay a rate of interest to the depositors. They use these deposits to give money to those who want to borrow. Banks receive a higher interest rate for loans. The difference between both the interest rates is the bank’s main income.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

What do banks do Social Science - Board Papers

How do banks playSocial Science - Board Papers

Identify and labeSocial Science - Board Papers