Question

Visit the branch of any commercial bank and write a report on various functions performed by bank conclusion

Answer 1

write a report on various functions performed by bank conclusion

Explanation:

Following functions performed by commercial bank:

• Commercial banks are dependent primarily on public deposits that are demand deposit and term deposit.

• Lending to businesses and individuals.

• Banks are collecting checks and swap bills on behalf of their consumers through the central bank's clearing house facilities.  

• Commercial banks, on behalf of their clients, collect dividends, pensions, wages, rents and interest on investments.  

• Commercial banks pay various customer obligations, such as phone bills, premium insurance, living costs and rent prices.  

• Commercial banks provide their customers with locker services to keep their jewelry, stocks, debentures and other precious items safe.  

• It provides e-banking facilities such as debit cards, credit cards and internet banking.

• Checks issued by Traveler.

• Foreign Exchange Dealing.

• Transfer of Funds.