q1 Differentiate between saving account and current account.
q2 State any two general utility functions of commercial banks.
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1.. While a Savings Account is one wherein you deposit your savings with the bank and earn interest on the same, a current account is one where you deposit money to carry out business transactions.
2. Two general utility functions of commercial banks are:
To safe guard the valuable items of their customers, commercial banks provide safety lockers to them.
Commercial banks are involved in foreign exchange business. They finance foreign trading by accepting foreign bills of exchange.
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