Question

What are the general utility functions performed by Public

sector banks?​

Answer 1

Explanation:

General utility services provided by commercial banks

Safe guarding the valuables: Banks safe guard the customers valuables like gold, valuables, documents in their banks using lockers. ...

Acting as referee: Banks acts a referee i.e. it gives customer financial position status to the third parties.

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Answer 2

Explanation:

1)Safe guarding the valuables: Banks safe guard the customers valuables like gold, valuables, documents in their banks using lockers. By paying rent, customers can use the lockers.

2)Acting as referee: Banks acts a referee i.e. it gives customer financial position status to the third parties. Banks act as referee on the basis of customer desire other wise the details is kept confidential.

3)Issuing letter of credit: Banks issues a certificate to their customers that declares the credit worthiness of the customer. In foreign trade credit letters are popular.

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