BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a function of commercial bank?
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Providing project finance
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Selling mutual funds
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Deciding policy rates like CRR, Repo rates/SLR etc.
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Settlement of payments on behalf of the customers
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Explanation:
Detailed explanation-1: -Hence, Issuing of Notes is not the function of a Commercial Bank. NOTE-The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.
Detailed explanation-2: -Facilitating import of goods is not a primary function of a bank.
Detailed explanation-3: -Answer: The primary functions of a commercial bank are accepting deposits and also lending funds. Deposits are savings, current, or time deposits. Also, a commercial bank lends funds to its customers in the form of loans and advances, cash credit, overdraft and discounting of bills, etc. Q2.
Detailed explanation-4: -Explanation: A commercial bank’s main functions are to receive deposits and to lend money.
There is 1 question to complete.