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A commercial bank provide various services …

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A commercial bank provide various services to its customers.Explain such services.

    • Posted by Shaurya Maurya 3 years, 8 months ago

    CBSE > Class 11 > Business Studies
    • 1 answers

    Nivedha . 3 years, 7 months ago

    The main services provided by commercial banks are (i) Collection of Deposits Commercial banks is that they accept deposits from their clients. The common types of deposits accepted by bank are (a) Saving account deposits (b) Current account deposits (c) Recurring deposits (d) Fixed term deposits (ii) Lending of Funds The commercial bank is to provide loans and advances out of the money received through deposits. These advances can be made in the form of overdraft cash credit etc. (iii) Cheque Facility The banks collect the cheques for their customers drawn on other banks. To collect cheques banks have clearing houses. (iv) Agency Functions Bank pay insurance premium on behalf of their clients. Bank also collect divided premium, interest, pension etc. (v) Allied Services In addition to above functions bank also provide allied services such as bill payments, locker facilities etc.

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    Posted by Sanya Miglani 4 months, 2 weeks ago

    CBSE > Class 11 > Business Studies
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    What's the business

    • Posted by Ranjit Verma 4 months, 2 weeks ago

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    Shubhash dey class 11 bst ch3 cbq

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    Posted by Shally Sinha 4 months, 2 weeks ago

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