Question

what are the role of banks?

Answer 1

Hi mate !

Here's ur answer :-


The roles of banks are :-

•] Mobilisation of savings.

•] Accelerating rate of capital formations.

•] Provision of financial and credit.

•] Assits foreign trade .

•] Extensions of markets.

•] And lastly , promoting entrepreneurship!

Thanks mate!☺️

Answer 2

________ʜᴇʏ ᴍᴀᴛᴇ________


A Bank is an institution which accept deposit withdrawal by cheque and gives loans and advances for the purpose of earning profit.


ROLE OF BANKS_______________


⚫ ACCEPTING DEPOSIT .

The Bank accept the deposit from the public .People deposit their money as per their convenience and capability.The money deposited in the account earns maximum interest.The longer the period of deposit ,the higher will be the rate of interest on the deposit .


⚫ ADVANCING LOANS.

Another main function of a bank is to advance loan to people . A Bank receives money throw deposit .A certain part of this money is transferred to the cash reserve and the balance is used by the bank for advancing loans.


⚫BANK DRAFT.


>Through Bank draft money can be remittance from one place to another.

>The issuing bank charges some commission for it.

>It is less risky for Creditor as it has no danger of being Dishonored.


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✨ Hope this helps you ✨