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Question
Which of the following functions is not an agency function?
Which of the following functions is not an agency function?
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Solution
The correct option is A Purchase and sale of securities
Banks also perform certain agency functions for and on behalf of their customers such as collection and making payments for credit instruments, purchase and sale of securities, etc. Credit creation is a unique primary function of a commercial bank.
Purchase and sale of securities
Banks also perform certain agency functions for and on behalf of their customers such as collection and making payments for credit instruments, purchase and sale of securities, etc. Credit creation is a unique primary function of a commercial bank.
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