Socio economic development
Manoj Vermavisibility
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AI-generated Abstract
Commercial banks play a critical role in enhancing economic development by accepting deposits, providing loans to new enterprises, promoting trade and industry, and supporting agricultural productivity, especially in rural areas. They contribute to monetary policy implementation, access to credit, and promotion of exports while helping to balance development across regions. By facilitating the circulation of money and increasing investment opportunities, commercial banks stimulate overall economic growth.
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