Question

21. (a)
What is a Bank? What are the functions of a
Bank?
அவற்றின் பணிகள்
வங்கி என்றால் என்ன?
யாவை?​

Answer 1

Answer:

A bank is a financial institution which performs the deposit and lending function

A bank is a financial institution which performs the deposit and lending functionThe function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce. Bank pays interest at lower rates to the depositors and receives interests on loans and advances from them at higher rates.

Answer 2

Answer:

The function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce. Bank pays interest at lower rates to the depositors and receives interests on loans and advances from them at higher rates.