84
edits
Changes
From Karnataka Open Educational Resources
→Notes for teachers
===Notes for teachers===
===Notes for teachers===
Banks are essential for each country’s economy, since no growth can be achieved unless savings are efficiently channeled into investment. In this respect, the lack of a full-fledged banking system has often been identified as a major weakness of the centrally planned economies. Therefore, reforming the banking sector in the former communist countries and creating a new culture of trust and confidence has been a crucial task in the process of transition to a market economy.
===Activity No # ===
===Activity No # ===
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