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Question:

Explain the functions of commercial banks.

Answer:

  • 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.
    • Fund transfer: Banks facilitate fund transfers through instruments like demand drafts, NEFT, and RTGS.
    • Cheque clearing: They act as clearinghouses for cheques and other negotiable instruments.
    • Value-added services: These include locker facilities, investment services, and utility bill payments.


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  • Answered by Ekta Mehta
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  • Answered by Ekta Mehta
  • 4 months ago

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