ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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storing and saving money
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loans
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Mortgages
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Tax customers
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Detailed explanation-1: -Issuing letters of credit, traveller’s cheque, etc. Undertaking safe custody of valuables, important documents, and securities by providing safe deposit vaults or lockers. Standing guarantee on behalf of its customers, etc.
Detailed explanation-2: -Facilitating import of goods is not a primary function of a bank.
Detailed explanation-3: -Accepting the Deposits. Advancing the Loans. Credit Creation. A Cheque for paying the funds. Paying and Collecting the Credit. Purchasing and Selling of the Securities. Bullion Trading. Money Remittance. More items
Detailed explanation-4: -Acceptance of deposits from the public. Provide demand withdrawal facility. Lending facility. Transfer of funds. Issue of drafts. Provide customers with locker facilities. Dealing with foreign exchange.