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Question
Accepting deposits is the only primary function of commercial banks.
Accepting deposits is the only primary function of commercial banks.
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Solution
The correct option is B False
False. A commercial bank is
a financial institution which performs two primary functions that includes accepting deposits from people by providing
them a nominal rate of interest on it and offering secured loan for the purpose
of consumption and investment by charging high rate of interest on it.
False.
A commercial bank is
a financial institution which performs two primary functions that includes accepting deposits from people by providing
them a nominal rate of interest on it and offering secured loan for the purpose
of consumption and investment by charging high rate of interest on it.
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