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Question
Mention two agency functions of a Commercial Bank.
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Solution
Two agency functions of a Commercial Bank-
(i) Collection and Making payments for credit instruments - The bank collects the payment of the bills of exchange, promissory notes, cheques, etc. on behalf of its customer.
(ii) Collection of dividend - The bank collects the dividends, and interests on shares and debentures as per instructions of its customers.
Two agency functions of a Commercial Bank-
(i) Collection and Making payments for credit instruments - The bank collects the payment of the bills of exchange, promissory notes, cheques, etc. on behalf of its customer.
(ii) Collection of dividend - The bank collects the dividends, and interests on shares and debentures as per instructions of its customers.
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