How are deposits with the bank beneficial for individual as well as for the nation ? -SST 10th

How are deposits with the bank beneficial for individual as well as for the nation ? -SST 10th
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The deposits with banks are beneficial for individual as well as for nation:  (i) Banks accept deposit and also pay an amount as interest and in this way people earn money.  (ii) People’s money is safe with banks.  (iii) It is easy for individuals to get credit who have savings and current account in the banks.  (iv) Poor people who are engaged in production need credit. (v) Credit provided by the banks for government projects help in development of the nation.  (vi) Banks provide loans for the promotion of International trade.  (vii) Development of infrastructure is undertaken with the loans provided by the banks.
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