Question

indigenous bankers constituted the ancient banking system of India. an indigenous banker or a bank is an private firm that receives deposits. deals in hundreds or engages itself in lending money.

In the light of above statement explain the important functions of indigenous bankers.??​

Answer 1

The indigenous bankers perform a number of banking and non-banking functions which are explained as under:

Accepting Deposits: ADVERTISEMENTS: ...

Advancing Loans: ...

Discounting Hundis: ...

Remittance Facilities: ...

Financing Inland Trade: ...

Speculative Activities: ...

Commission Agents: ...

Run Firms: