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Question
What Is a Commercial Bank and What Are Its Functions?
What Is a Commercial Bank and What Are Its Functions?
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Solution
A commercial bank is a kind of financial institution that carries out all the operations related to deposit and withdrawal of money for the general public, providing loans for investment, and other such activities. These banks are profit-making institutions and do business only to make a profit.
The function of the commercial bank are as follows:
- Accepting deposits
- Lending of Funds
- Transfer of Money
- Discounting bills of exchanges
- Locker facilities
- Overdraft facilities
A commercial bank is a kind of financial institution that carries out all the operations related to deposit and withdrawal of money for the general public, providing loans for investment, and other such activities. These banks are profit-making institutions and do business only to make a profit.
The function of the commercial bank are as follows:
- Accepting deposits
- Lending of Funds
- Transfer of Money
- Discounting bills of exchanges
- Locker facilities
- Overdraft facilities
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