Can there be any difficulties or disadvantages in keeping money in a bank? Think and write.
Yes, there can be difficulties and disadvantages in keeping money in a bank. They are as follows:-
1. There will be loss of money if the bank is looted by the thieves.
2. It becomes difficult for the illiterate person to open a bank account and assure himself of the level of security for keeping money in the bank.
3. Banks has certain rules that need to be followed in case of keeping money in a bank, and the related activities like withdrawal, deposits, etc.
4. Also it becomes difficult to use the money kept in the bank when the situation like demonetisation occurs.
Note –
Demonetisation – The term means when the old currency or note is replaced with the new one by the government.
