What do you mean commercial banks?
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Posted by Khushi Janghu 5 years, 2 months ago
- 2 answers
Gaurav Seth 5 years, 2 months ago
A commercial bank is a kind of financial institution which carries all the operations related to deposit and withdrawal of money for the general public, providing loans for investment, etc. These banks are profit-making institutions and do business only to make a profit.
The two primary characteristics of a commercial bank are lending and borrowing. The bank receives the deposits and gives money to various projects to earn interest (profit). The rate of interest that a bank offers to the depositors are known as the borrowing rate, while the rate at which banks lends the money is called the lending rate.
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Aaiman Farhin 5 years, 2 months ago
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