CBSE Class 12-commerce Answered
what are the functios of commercial banks?
Asked by ayushkishu | 17 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 | 18 Dec, 2019, 02:33: PM
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