Question

What are the primary functions of commercial banks?

Answer 1

ANSWER :-
Primary Function of commercial banks:-

Accepting Deposits

Advancing of Loans

Overdraft Facility

Discounting Bills of Exchange

Agency Functions

General Utility Functions.
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Answer 2

The primary functions of a commercial bank include:

1) Accepting deposits

2) Advancing loans

The accepting deposits function is the main function carried on by the commercial banks and these banks accept the deposits from people based on their requirements. Commercial banks accept deposits in three forms:

1) Current Account deposits

2) Fixed deposits

3) Saving deposits

Apart from accepting the deposits from the customers, a commercial bank also provides funds and borrows money to the customers.