Define Bank. State two importance of it .
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As an agent of the Reserve Bank, the State Bank performs the following functions: (i) It acts as the government's bank, i.e., it collects money and makes payments on behalf of the government and manages public debt. (ii) It acts as the bankers' bank. It receives deposits from and gives loans to commercial banks.
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An organization which keeps money safely with its customers, the office or building of such an organization. You can take money out , save, borrow or exchange money at a bank.
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