WAYS TO INCREASE INCOME FROM BANK DEPOSITS

Аннотация

The article discusses bank loans and their role in the economy. It is analyzed that bank loans play a leading role in the economy, as they play a primary role in the formation and development of the production process of individuals and legal entities in various industries, serve as the basis for improving the processes of the bank's own development and capital. Key words: bank, credit, economy, production, development. In recent years, serious research has been carried out to ensure the financial stability of the banking system. Significant growth of the credit system in this process has also formed a tradition of a serious attitude to the problem. A significant increase in the share of loans has also led to an increase in demand for liquid loans. The bank also needs radical reforms in this direction. This process is observed all over the world and in Uzbekistan in particular, where the low quality of credit collateral assessment, non-compliance with uniform assessment criteria, and non-compliance with the requirements of modern lending practices are particularly noticeable. Responding to such opinions, D. Karimova writes: “If we turn to international practice, the issue of assessing collateral for bank loans is one of the important aspects of increasing the efficiency of commercial activities, both in developed and developing countries. Therefore, it is necessary to prohibit the practice of assessing collateral for bank loans [1, p.9]. Today, the banking sector has become an integral part of the economic system and is of crucial importance for the financial stability and development of the country. Banks contribute to the development of the economy by providing not only savings, but also lending, payment processing, currency exchange and many other services. Therefore, it is important to effectively organize banking services. This article will discuss the main methods of effectively organizing banking services, their importance and key elements necessary for the effective provision of services. In general, given that the economy of Uzbekistan is at the stage of development, this situation indicates the effective use of bank loans by economic entities in most cases for the subordination of projects, and foreign scientists emphasize the relevance of their use in the processes of assessing the local banking system and collateral. World civilization allows for serious reforms in all areas. In this regard, "The development of modern and effective financial and credit services largely depends on the modernization of public life." Along with material production, the service sector is becoming increasingly important in social development and raising the standard of living of the population" [2,p.51]. Considering the history and development of banks, we see that the standard of living of a person is inextricably linked not only with the processes of material production, but also with the development of the credit system. Indeed, banks are an important part of the economic system, and one of their main activities is to earn income from customer deposits. Banks provide many financial services 34 ILM-FAN VA INNOVATSIYA ILMIY-AMALIY KONFERENSIYASI in-academy.uz/index.php/si through deposits received from their clients, thereby increasing their income. Investment return strategies are important for banks because they help ensure their financial stability, manage resources effectively and support economic growth. In this regard, it should be noted that the credit system of banks also has its own specific functions in the modern process of economic development. Since the unique role of tax revenues in the global economy is emphasized, it is important not to forget that this process has its own tasks [3, p.48]. Banks' income from deposits is mainly made up of interest earned on deposits. Banks offer their customers a variety of deposit products. However, in order to earn income from these products, banks need to set interest rates effectively. Raising interest rates helps attract customers and raise more funds. At the same time, interest rates on deposits should be consistent with market conditions, because excessively high interest rates can expose the bank to high risks. However, in this process, it is necessary to take into account the economic situation, the social life and activities of the people. Because the goal is to increase the bank's income, it is necessary to set tasks taking into account both the lives of people and their conditions, that is, in an integral unit, taking everything into account. In this process, it is necessary to focus on the following, and to formulate. Offer a wide range of deposit products. To meet the various needs of customers, banks need to develop a wide range of deposit products. Such products may include short-term, long-term, as well as deposits with interest rates and special contracts. For example, products such as deposits that are easily convertible for customers, long-term dep