What are the main functions of commercial banks and central bank in india?
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ʜᴇʏᴀ ᴜsᴇʀ!
ғᴜɴᴄᴛɪᴏɴ ᴏғ ᴄᴏᴍᴍᴇʀᴄɪᴀʟ ʙᴀɴᴋ:
①ᴏᴠᴇʀᴅʀᴀғᴛ: ᴄᴜsᴛᴏᴍᴇʀ ᴡʜᴏ ʜᴀᴠᴇ ᴄᴜʀʀᴇɴᴛ ᴀᴄᴄᴏᴜɴᴛ ᴡɪᴛʜ ᴛʜᴇ ʙᴀɴᴋ ᴀʀᴇ ᴀʟʟᴏᴡᴇᴅ ᴛᴏ ᴡɪᴛʜᴅʀᴀᴡ ᴍᴏʀᴇ ᴍᴏɴᴇʏ ᴛʜᴀɴ ʟʏɪɴɢ ɪɴ ᴛʜᴇɪʀ ᴀᴄᴄᴏᴜɴᴛ ᴛʜᴇ ᴍᴏɴᴇʏ ᴡɪᴛʜᴅʀᴀᴡɴ ɪɴ ᴇxᴄᴇssɪs ᴄᴀʟʟᴇᴅ ᴏᴠᴇʀᴅʀᴀғᴛ.
②ᴄᴀsʜ ᴄʀᴇᴅɪᴛ: ᴜɴᴅᴇʀ ᴛʜɪs ғᴀᴄɪʟɪᴛʏ ᴏғ ʙᴀɴᴋ ɢʀᴀɴᴛs ᴛʜᴇ ʀɪɢʜᴛ ᴛᴏ ɪᴛs ᴄᴜsᴛᴏᴍᴇʀ ᴛᴏ ʙᴏʀʀᴏᴡ ᴍᴏɴᴇʏ ᴜᴘᴛᴏ ᴀ ᴄᴇʀᴛᴀɪɴ ʟɪᴍɪᴛ ᴀɢᴀɪɴsᴛ sᴇᴄᴜʀɪᴛʏ ᴏᴜᴛ ᴏғ ᴛʜᴇ sᴀɴᴄᴛɪᴏɴᴇᴅ ʟɪᴍɪᴛ ᴛʜᴇ ᴄᴜsᴛᴏᴍᴇʀ ᴡɪᴛʜᴅʀᴀᴡs ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴀᴄᴄᴏʀᴅɪɴɢ ᴛᴏ ʜɪs ɴᴇᴇᴅ ɪᴛ ᴍᴀʏ ʙᴇ ɴᴏᴛᴇᴅ ᴛʜᴀᴛ ʜᴇ ᴘᴀʏs ɪɴᴛᴇʀᴇsᴛ ᴏɴ ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴀᴄᴛᴜᴀʟʟʏ ᴡɪᴛʜᴅʀᴀᴡɴ ʙʏ ʜɪᴍ.
③sʜᴏʀᴛ ᴛᴇʀᴍ ʟᴏᴀɴs: ᴀ ʙᴀɴᴋ ɢɪᴠᴇ ʟᴏᴀɴ ᴛᴏ ɪᴛs ᴄᴜsᴛᴏᴍᴇʀ ɪɴ ᴏɴᴇ ʟᴜᴍᴘ sᴜᴍ ᴀᴍᴏᴜɴᴛ.
④ᴅɪsᴄᴏᴜɴᴛɪɴɢ ᴏғ ʙɪʟʟs ʀᴇᴄᴇɪᴠᴀʙʟᴇ: ᴜɴᴅᴇʀ ᴛʜɪs ғᴀᴄɪʟɪᴛʏ ᴀ ʙᴀɴᴋ ᴅɪsᴄᴏᴜɴᴛ ʙɪʟʟ ʀᴇᴄᴇɪᴠᴀʙʟᴇ ᴏғ ɪᴛs ᴄᴜsᴛᴏᴍᴇʀs ɪᴛ ᴄʜᴀʀɢᴇs sᴏᴍᴇ ᴄᴏᴍᴍɪssɪᴏɴ ғᴏʀ ɪᴛ.
ʜᴏᴘᴇ ᴛʜɪs ᴍᴀʏ ʜᴇʟᴘ ʏᴏᴜ!
ғᴜɴᴄᴛɪᴏɴ ᴏғ ᴄᴏᴍᴍᴇʀᴄɪᴀʟ ʙᴀɴᴋ:
①ᴏᴠᴇʀᴅʀᴀғᴛ: ᴄᴜsᴛᴏᴍᴇʀ ᴡʜᴏ ʜᴀᴠᴇ ᴄᴜʀʀᴇɴᴛ ᴀᴄᴄᴏᴜɴᴛ ᴡɪᴛʜ ᴛʜᴇ ʙᴀɴᴋ ᴀʀᴇ ᴀʟʟᴏᴡᴇᴅ ᴛᴏ ᴡɪᴛʜᴅʀᴀᴡ ᴍᴏʀᴇ ᴍᴏɴᴇʏ ᴛʜᴀɴ ʟʏɪɴɢ ɪɴ ᴛʜᴇɪʀ ᴀᴄᴄᴏᴜɴᴛ ᴛʜᴇ ᴍᴏɴᴇʏ ᴡɪᴛʜᴅʀᴀᴡɴ ɪɴ ᴇxᴄᴇssɪs ᴄᴀʟʟᴇᴅ ᴏᴠᴇʀᴅʀᴀғᴛ.
②ᴄᴀsʜ ᴄʀᴇᴅɪᴛ: ᴜɴᴅᴇʀ ᴛʜɪs ғᴀᴄɪʟɪᴛʏ ᴏғ ʙᴀɴᴋ ɢʀᴀɴᴛs ᴛʜᴇ ʀɪɢʜᴛ ᴛᴏ ɪᴛs ᴄᴜsᴛᴏᴍᴇʀ ᴛᴏ ʙᴏʀʀᴏᴡ ᴍᴏɴᴇʏ ᴜᴘᴛᴏ ᴀ ᴄᴇʀᴛᴀɪɴ ʟɪᴍɪᴛ ᴀɢᴀɪɴsᴛ sᴇᴄᴜʀɪᴛʏ ᴏᴜᴛ ᴏғ ᴛʜᴇ sᴀɴᴄᴛɪᴏɴᴇᴅ ʟɪᴍɪᴛ ᴛʜᴇ ᴄᴜsᴛᴏᴍᴇʀ ᴡɪᴛʜᴅʀᴀᴡs ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴀᴄᴄᴏʀᴅɪɴɢ ᴛᴏ ʜɪs ɴᴇᴇᴅ ɪᴛ ᴍᴀʏ ʙᴇ ɴᴏᴛᴇᴅ ᴛʜᴀᴛ ʜᴇ ᴘᴀʏs ɪɴᴛᴇʀᴇsᴛ ᴏɴ ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴀᴄᴛᴜᴀʟʟʏ ᴡɪᴛʜᴅʀᴀᴡɴ ʙʏ ʜɪᴍ.
③sʜᴏʀᴛ ᴛᴇʀᴍ ʟᴏᴀɴs: ᴀ ʙᴀɴᴋ ɢɪᴠᴇ ʟᴏᴀɴ ᴛᴏ ɪᴛs ᴄᴜsᴛᴏᴍᴇʀ ɪɴ ᴏɴᴇ ʟᴜᴍᴘ sᴜᴍ ᴀᴍᴏᴜɴᴛ.
④ᴅɪsᴄᴏᴜɴᴛɪɴɢ ᴏғ ʙɪʟʟs ʀᴇᴄᴇɪᴠᴀʙʟᴇ: ᴜɴᴅᴇʀ ᴛʜɪs ғᴀᴄɪʟɪᴛʏ ᴀ ʙᴀɴᴋ ᴅɪsᴄᴏᴜɴᴛ ʙɪʟʟ ʀᴇᴄᴇɪᴠᴀʙʟᴇ ᴏғ ɪᴛs ᴄᴜsᴛᴏᴍᴇʀs ɪᴛ ᴄʜᴀʀɢᴇs sᴏᴍᴇ ᴄᴏᴍᴍɪssɪᴏɴ ғᴏʀ ɪᴛ.
ʜᴏᴘᴇ ᴛʜɪs ᴍᴀʏ ʜᴇʟᴘ ʏᴏᴜ!
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Hey mate....
♠️The primary functions of a commercial bank are accepting deposits and also lending funds. Deposits are savings, current, or time deposits. Also, a commercial bank lends funds to its customers in the form of loans and advances, cash credit, overdraft and discounting of bills, etc.
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