Social Sciences, asked by Bhaveshdungri, 6 months ago

Q. 21. Explain the functioning of a bank.

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Answered by cathrinenoronha436

Answer:

The function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce. Bank pays interest at lower rates to the depositors and receives interests on loans and advances from them at higher rates.

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