wiz-icon
MyQuestionIcon
MyQuestionIcon
8
You visited us 8 times! Enjoying our articles? Unlock Full Access!
Question

________ is a primary function of commercial bank.

A
Purchase and sell securities
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Accept deposits
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Letter of credit
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Provision of lockers
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B Accept deposits
A commercial is that financial institution which accepts deposit from people and offers loan for the purpose of consumption or investment. The primary function of commercial banks are to accept deposits without which it cannot initiate its other functions.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Banks and Their Functions
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon