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Q.

[[1]] are used by banks to extend loans.


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Detailed Solution

Deposits are used by banks to extend loans.
When people have extra cash, they usually deposit it at the bank, which utilises these deposits for giving out loans; the bank either invests that money in big projects or gives loans to small manufacturers or middle or low-income people. Banks don't utilise all money deposits in giving out loans but keep a certain proportion of cash with themselves, so if any depositor comes to the bank to withdraw their money, they can have their money back.
 
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[[1]] are used by banks to extend loans.