Explain the functions of commercial banks.
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Commercial banks perform the following key functions:
Accepting deposits: They accept savings, current, and fixed deposits from customers and provide interest on them.
Providing loans: They offer various types o...
Step-by-step explanation:
• Commercial banks perform the following key functions:
•
• Accepting deposits: They accept savings, current, and fixed deposits from customers and provide interest on them
•
• Providing loans: They offer various types of loans, including cash credit and overdraft facilities, earning interest in return
Students often lose marks by skipping steps, writing incomplete explanations, or misunderstanding keywords used in the question.
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