BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The main function of commercial bank can be segregated into
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1, 2 and 3
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1 and 3
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1 and 2
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2 and 3
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Explanation:
Detailed explanation-1: -The main purpose of commercial banks is to provide financial services to the general public and also provide loan facilities to the business which helps in ensuring economic stability and growth of the economy. Therefore, we can say that credit creation is the most important purpose of commercial banks.
Detailed explanation-2: -Explanation: Accepting deposits, providing loans, mortgages, cash, borrowing, overdraft, and bill discounting are all primary responsibilities.
There is 1 question to complete.