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The banks play a pivotal role in a country's economy. The economy of a country is bound to crumble down if the banks are closed indefinitely. The banks provide necessary impetus to growth by pumping finance to industrial sector,without which the production cannot accelerate which is vital for employment and overall growth of the economy. However, the responsibilities of private banks are limited and they are more inclined for augmenting their profit acceleration. Whereas the nationalized banks have their social responsibilities to lift the cottage and small industries sector by providing soft loans, without caring for their profit motivation.

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