Advertisements
Advertisements
प्रश्न
State whether the following statements are TRUE or FALSE:
Commercial banks play an important role in economic development.
Advertisements
उत्तर
True, commercial banks play an important role in economic development.
Explanation:
By channelizing the surplus money from the public to loan seekers, the commercial banks create credit in the economy. Credit creation paves the path for the growth of the economy. Also, commercial banks play an important role in controlling money supply in the economy. Thus, commercial banks play an essential role in economic development.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
