BANKING AFFAIRS

Detailed explanation-1: -Functions of Commercial Banks:-Primary functions include accepting deposits, granting loans, advances, cash, credit, overdraft and discounting of bills.-Secondary functions include issuing letter of credit, undertaking safe custody of valuables, providing consumer finance, educational loans, etc.

Detailed explanation-2: -The function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce. Bank pays interest at lower rates to the depositors and receives interests on loans and advances from them at higher rates.