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What is bank can you illustrate the function of a bank

Posted by Dikchen Tamang 5 years, 11 months ago

CBSE > Class 10 > Social Science

2 answers

Yogita Ingle 5 years, 11 months ago

The main functions of commercial banks are accepting deposits from the public and advancing them loans. However, besides these functions there are many other functions which these banks perform. All these functions can be divided under the following heads: Accepting deposits Giving loans Overdraft Discounting of Bills of Exchange Investment of Funds Agency Functions Miscellaneous Functions

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Vikas Kuntal 5 years, 11 months ago

So the 2 most basic and well known functions of banks is to hold money in the form of deposits (acquire funds), and make loans with those funds (invest). Banks pay interest on some accounts (any accounts with large amounts usually pay some form of interest), and charge even higher interest rates on the loans.

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