Explain the agency functions of commercial banks
A commercial bank is a kind of financial organization that carries all the operations related to the deposit and withdrawal of money for the general public, providing loans for investment, etc. These banks are profit-making organizations and do business only to make a profit.
Agency functions of a commercial bank
Commercial banks provide certain services to their customers in return for some commission, these are called agency functions.
Some of the agency functions of a commercial bank are listed below
Other vital functions of Commercial Bank
The functions of commercial banks are classified into two main categories
(a) Primary functions
(b) Secondary functions