Question

explain main functions of modern banking system​

Answer 1

Answer:

Collection of Deposits: The main aim of such banks is to accept deposits from the customers.Provide loans and advances: Loans and credit facilities are also provided by commercial banks. They provide instant credit by allowing overdraft facilities.

Hope you like the answer...............

Answer 2

Answer:

Modern Functions of Commercial Bank  

     (1) It issues Credit Cards, Debit Cards, Smart Cards etc.  

     (2) Changing Cash for Bank deposit and Bank deposits for cash

     (3) Providing 24 hours facility of payment through ATM's

     (4) Transferring Bank Deposit between individual or companies

     (5)  Exchanging deposits for bills of exchange government Bond, secure and unsecured promises of trade and industrial units

     (6) Underwriting capital issues