Question

Which of the following is not a function of Commercial Banks? a) Lending of loans b) Issue of currency c) Agency Services d) Receipts of Deposits

Answer 1

heya mate!!!!

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agency services is not a function of commercial banks.

hope it helps

Answer 2

Issue of Currency is not a function of Commercial banks. Commercial banks are financial institutions that operate mainly to generate profits.

Functions of Commercial Banks

• Accepting Deposits: Commercial banks accept small deposits of money from individuals in order to incorporate savings accounts.
• The lending of Loans/Money: Commercial banks provide loans to individuals in need on interest rates in form of cash credit, discounting of bills etc.
• Agency Services: These banks act as agents to their customers for various services such as preparation of income tax returns, collecting of bills, collection of receipts of deposits etc.
• General Utility Services: Issuance of traveller cheques and issuance of debit and credit cards, are the secondary functions of commercial banks.