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Banks and Their Functions

State with re...

Question

State with reasons whether you agree or disagree with the following statements.
Providing safe deposit vault facility is the only general function of commercial banks.

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Solution

I do not agree with this statement.
General Utility Services of a commercial bank are:
Issuing traveler cheques
Offering locker facilities for keeping valuables in safe custody
Also, issuing debit cards and credit cards, etc.

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