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Answer:
By encouraging inducement to save and also mobilising savings from the public, banks help to increase the aggregate rate of investment in the economy. This creation of credit, if it is used for productive purposes, greatly larges production and investment and thus promotes economic growth.
how?
The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. Bank loans facilitate commerce.
Manufacturers borrow from banks the money needed for the purchase of raw materials and to meet other requirements such as working capital. It is safe to keep money in banks. Interest is also earned thereby. Thus, the desire to save is stimulated and the volume of savings increases. The savings can be utilised to produce new capital assets.
Answer:
Among the performers will be Burna Boy, Latto, Megan Thee Stallion, Rauw Alejandro and the Red Hot Chili Peppers. Mary J. Blige is this year's Billboard Icon Award recipient and also will perform. The Weeknd is a finalist in 17 categories of the 2022 Billboard Music
