Deposits with the bank are beneficial because

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Banks accept deposits and also pay an amount as interest and in this way people earn money.

People’s money is not safe with banks.

Poor people who are engaged in production need credit.

Both (1) and (3)

answer is D.

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Detailed Solution

Deposits with the bank are beneficial because Banks accept deposits and also pay an amount as interest, and in this way, people earn money and poor people who are engaged in production need credit.
People deposit their extra cash in the bank. In addition to holding the money, a bank also pays the depositor interest on the deposit. Demand deposits are another name for bank deposits. The deposits with banks benefit individuals and nations:
1)      People can make money by depositing money into banks, which also pay interest.
2)      People's money is safe with banks.
3)      It is easy for individuals with savings and current bank accounts to easily get credit.
4)      Credit is required for low-income producers.
5)      Credit provided by banks for government projects helps in the development of the nation.

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