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Q.

Choose if the given statement is true/false.

Banks offer demand deposits for the people and use those deposits to provide further loans to the economy.

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a

True

b

False

answer is A.

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Detailed Solution

The given statement is true.
Banks offer demand deposits for the people and use those deposits to provide further loans to the economy. They also provide interest on the demand deposits as it will encourage people to make more monetary transactions with them and they will feel secure as their money is safe with them. Banks only keep a small portion of demand deposits with them and provide credit and loans to big industries or other people who require money at cheap and affordable prices. As there is always a need for money for various economic activities and to facilitate the development of the country, majorly through production.

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Choose if the given statement is true/false.Banks offer demand deposits for the people and use those deposits to provide further loans to the economy.