Commercial banks occupy a vital position as they provide funds for different_____________ as well as different time periods.

Functions

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Purposes

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Divisions

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Purposes

Commercial banks occupy a vital position as they provide funds for different purposes as well as different time periods. Banks extend loans to firms of all sizes and in many ways like cash credits, overdrafts and term loans.

Suggest Corrections

Similar questions

From which source, a firm can raise long term funds when a loan is not provided by a commercial bank? Discuss its merits.

Join BYJU'S Learning Program