what are the functios of commercial banks?

Asked by ayushkishu | 17th Dec, 2019, 10:25: PM

Expert Answer:

The functions performed by the commercial banks can be categorised under two heads:
 
1. Primary Functions:
a) Accepting deposits
b) Advancing loans
 
2. Secondary Functions:
a) Overdraft facility
b) Discount Bills of exchange
c) Agency functions: Transfer of funds, collection and payment of various items, purchase and Sale of Foreign exchange
d) General utility functions: Locker facility, letter of credit, collection of statistics etc

Answered by Christina | 18th Dec, 2019, 02:33: PM

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