FUNCTIONS OF COMMERCIAL
BANKS
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1
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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.The secondary functions of a commercial bank are acting as an agent to its customers and also providing general utility services.
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commercial banks are authorized to provide a variety of financial services which includes loans, saving accounts, etc.
commercial banks accept deposit from people , businesses, and other entities in the form of:
1: savings deposits
2 : time deposits
3 : current deposits
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