introduction of any commercial banks
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⬆️A commercial bank is a type of financial institution that provides services such as accepting deposits, making business loans, and offering basic investment products. Commercial bank can also refer to a bank, or a division of a large bank, ⬆️⬆️⬆️which more specifically deals with deposit and loan services provided to corporations or large/middle-sized business as opposed to individual members of the public/small business - retail banking, or merchant banks.⬆️
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Commercial banks
Explanation:
A commercial bank is a type of financial institution that performs all functions related to deposits and withdrawals of funds, provides loans for investments, etc. for the general public. These banks are profit-making institutions and do business only to earn profit.
Type:- There are three various types of commercial banks.
- Private bank
- Public bank
- Foreign bank
Function:-Detailed below are the benefits of a commercial bank
- Accepts deposits
- Provides loans and advances
- Credit cash
- Discounting bill of exchange
- The extra money withdrawal facility
- Buying and selling of securities
- Making payments and collecting credits
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