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BANKING AND MONETARY POLICY — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsBANKING AND MONETARY POLICY1 Mark
Question
Why there need arose for establishment of bank?
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Answer

The economic system dependent on money. Gradually for an instutional arrangement for safety of money, transfer of money and maintaining the value of money; establishment of bank became necessary.

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