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Question
State 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 customers.
(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 customers.
(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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