briefly mention the functions of banks in 10 points
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EWhat is the main function of the bank?
Answer: The primary functions of a commercial bank are accepting deposits and also lending funds. Deposits are savings, current, or time deposits. Also, a commercial bank lends funds to its customers in the form of loans and advances, cash credit, overdraft and discounting of bills, etc.xplanation:
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We discus all of them below:
Accepting Deposits: Banks attract the idle savings of people in the form of deposits.
Demand deposits, also known as current accounts: ...
Fixed Deposits or Time Deposits: ...
Savings Bank Deposits: ...
Giving Loans: ...
By allowing an Overdraft: ...
By Creating a Deposit: ...
Discounting Bills:
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