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Q.

Which of the following keeps our savings safe and provides other financial services?


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a

Bank

b

Post office

c

Medical shop

d

None of the above 

answer is A.

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Detailed Solution

Banks keep our savings safe and provide other financial services. Banks are the main functionaries of the Indian economy and hold all public savings and provide some services like Debit cards, credit cards, bank cheques, internet banking, etc. Banks also give loans to the public, especially a person who has a savings account in the bank. Thus the Reserve Bank of India (RBI) is the banker of the bank. RBI keeps regulating all the banks in India.
 
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