Question

general utility function of commercial bank​

Answer 1

Explanation:

. RBI allows certain branches to undertake foreign exchange transactions. They are called authorized dealers. The bank purchases and sells foreign currency at the rate prescribed by RBI.

2. The bank enables foreign trade by issuing letter of credit on behalf of the importer. It is a letter of guarantee and that enables the importer to purchase goods.

Letter of credit has been in existence for many years. It is in fact the most important single document in the international trade. Simply stated, a letter of credit is an undertaking by a banker in the importer’s country to pay or to arrange to pay specified merchandise, provided that the exporter satisfies certain stipulated conditions.

Answer 2

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general utility function are given below

• locker facility provided by Bank
• Traveller cheque is also provided by bank.
• it also provide the facility of letter of credit

$❣️hope it's help u ❣️$