Question

The main function of Banks are:
(a) Give loan
(b) Receive deposits
(c) Receive deposits & giving loan
(d) Doing business

Answer 1

The correct answer for this question is, Option...

(C) Receive deposits & giving loan

A bank is a financial institution, its main function is to deposit funds from its account holders and to make profits by lending that amount to businessmen so that it can maintain its banking expenses.

A bank is a financial institution in which the general public deposits its money to secure and save and the bank uses some money for its own benefit so that it can maintain its infrastructure by earning interest on that money.

Answer 2

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(c) Receive deposits & giving loan