Banks act as ____ between the depositors and borrowers.

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Detailed Solution

Banks act as mediators between depositors and borrowers.
Banks play the role of a mediator between depositors and borrowers. Banks play a very important role in the economy of India. They are the custodian of the excess money of people which is kept safe as deposits and interest is provided to them. They act as a mediator between those who have excess money and those who are in need of money. They charge comparatively less interest on the loan given by them and also prevent any fraudulent activities. They promote the agricultural and industrial sectors by making various personalized schemes for their benefit. They also fund various organizations. Banks help in stabilizing the economy and help in maintain liquidity.

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