BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the main functions of a bank
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Accept deposits
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provide loans
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Locker services
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All the options
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Explanation:
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: -Major Functions of Banks in India Accepting deposits. Lending loans and advances. Transfer of funds. Issue of notes/ drafts.
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