BANKING AFFAIRS

Detailed explanation-1: -Banks are known to extend a variety of credit facilities such as term loans, cash credit, bills discounting, vehicles loans, agriculture loans, corporate credit, retail loans, guarantees and letters of credit, and a host of such other need-based facilities.

Detailed explanation-2: -The most common services that retail banks offer are checking and savings accounts, mortgages, personal loans, credit cards, and certificates of deposit (CDs).

Detailed explanation-3: -Sale of post cards and postal stamps services are offered by post office. This service is not offered by commercial banks. Functions of commercial banks include-issuing bank drafts, depositing money and lockers for valuable items.