what is the function of the banks
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Functions of Commercial Banks: - Primary functions include accepting deposits, granting loans, advances, cash, credit, overdraft and discounting of bills. - Secondary functions include issuing letter of credit, undertaking safe custody of valuables, providing consumer finance, educational loans, etc.
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1. being formal sector of credit ,they provide loans on cheap interest rates
2. It is the safest place to deposit our extra money for future use , Banks also provide simple and annual interest on deposits
3. banks are accountable and responsive
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