Question

explain the functions of commercial banks​

Answer 1

Answer:

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

Answer 2

Commercial banks perform various important functions such as providing locker services to the local people.

Explanation:

Commercial banks are public banks that provide services to the citizens of the country. They provide various services such as:

• Locker facility for storing the precious items in safe custody.
• Opening various types of accounts such as savings, current, etc.
• Investment facilities such as fixed deposits, etc.
• Commercial banks also provide loans to the citizens at a rate fixed by the central bank. This is the process by which credit creation is done in the economy.