ICSE Class 9 Answered
Define a commercial bank.
What are
the features of a commercial bank?
Asked by Topperlearning User | 05 Jun, 2015, 09:46: AM
Expert Answer
A commercial bank is defined as a financial institution which provides services such as accepting deposits, giving business loans, mortgage lending and basic investment products such as savings account and certificates of deposit.
Features of a commercial bank are as follows:
- A commercial bank deals with money, accepts deposits and advances short term loans to traders.
- Its main aim is to earn profit and create demand deposits which serve as a medium of exchange.
Answered by | 05 Jun, 2015, 11:46: AM