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Q.

Banks provide[[1]]with regular interest on their deposits kept with them.


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Detailed Solution

Banks provide depositors with regular interest on their deposits kept with them. This rate of interest is known as the borrowing rate. Banks maintain only a proportion of these deposits to make provisions for any depositor who might wish to withdraw his deposits. The banks then lend the remaining balances to individuals as loans. They generally charge the borrowers a rate of interest that is higher than what they pay to the deposit holders. This rate at which commercial banks provide loans to borrowers is known as the lending rate.
 
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