Question

What is banking and main function of banking class 10?

Answer 1

each loan amount is passed by the bank after due consideration and securing the bank profit. the bank also gives advances to its customers. these are also the primary function of the bank. The bank provides the service of overdraft ,cash credit, loan and discounting on the Bill's of exchanges.

Answer 2

Banking is the store house for money for future demand.

Its functions are :-

• It give loans whenever needed.
• It gives interest on saved money.
• It save the money and give it back whenever demanded.  

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