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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
answered-by-expert 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:

  1. A commercial bank deals with money, accepts deposits and advances short term loans to traders.
  2. 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
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