Question

what are the functions of bank​

Answer 1

Answer:

hope this help u

Explanation:

Different Authors and Economists have given some structural and functional definitions on Bank from different angles:

“ Bank is a financial intermediary institution which deals in loans and advances”--- Cairn Cross.

“ Bank is an institution which collects idle money temporarily from the public and lends to other people as per need.”----

R.P. Kent.

“ Bank provides service to its clients and in turn receives perquisites in different forms.”--- P.A. Samuelson.

“ Bank is such an institution which creates money by money only.”-----W. Hock.

“ Bank is such a financial institution which collects money in current, savings or fixed deposit account; collects cheques

as deposits and pays money from the depositors‟ account through cheques.”-----Sir John Pagette.

Indian Company Law 1936 defines Bank as “ a banking company which receives deposits through current account or

any other forms and allows withdrawal through cheques or promissory notes

Answer 2

Answer:

Important Functions of Bank

There are two types of functions of banks:

Primary functions – being primary are also called banking functions.

Secondary Functions

Both the types of functions of bank are explained below in detail:

Primary Functions of Bank

All banks have to perform two major primary functions namely:

Accepting of deposits

Granting of loans and advances