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BM
Question Practice

What can happen if no formal banks exist for lending and borrowing?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 7
Social Science
Exploring Society India and Be...
Banks and the Magic of Finance
Question Bank

What can happen if no formal b...

Single Answer MCQ
Q-00131330

What can happen if no formal banks exist for lending and borrowing?

1

Everyone would easily find jobs

2

People would need to rely only on personal networks

3

More capital would be available

4

Savings would grow faster

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