Banks are regarded to be the backbone of the economy of any country

Banks are regarded to be the backbone of the economy of any country. Banks provide deposit facility through opening different types of accounts, advance loans and credit and perform several utility functions. The Govt, is emphasising on expansion of banking facilities in the rural areas. Identify the values reflected here by opening branches.

The values reflected here are as follows:

  1. Increasing the rate of capital formation.
  2. Channelising public savings in most productive uses.
  3. Inculcating saving habits among people.
  4. Development of rural areas.
  5. Providing public services.