Answer:
Advantages and disadvantages:-
If it is a perennial river then it is a continuous source of water for drinking, washing, industrial use, irrigation etc. Eg:- Thames, Volga, Ganges etc.
They provide cheap transportation to bulky goods. Like European rivers are being used for such purposes since industrial revolution. In Canada rivers provide a easy route to transport lumber down the river stream. So banks along such rivers are heavily industrialized adding to the prosperity of people living aroung it.
Fishes as a source of food add to the cheap protein diet.
Peaceful and cool environment
Rich biodiversity, forests add to the pristine environment of river banks
Some rivers are worshiped like Ganges. These rivers have many Ghats along them where one can listen chanting. They help in inner peace.
Although flood is responsible for havoc and destruction but they also deposit rich Alluvial soil. This soil is highly fertilized.
Disadvantages
River pollution from Industries, Agriculture, household etc have made rivers unfit for use. Heavy metals can cause cancer and various other diseases.
Floods are a serious concern. Perpetual poverty due to the loss of assets.
Growth of town due to economic prosperity leads to various other kinds of pollution like air pollution, sound pollution, light pollution