ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Credit Unions
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Mutual Savings Banks
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Commercial Banks
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Savings and Loans
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Detailed explanation-1: -Commercial banks are often called full-service banks. They offer a wide range of financial services, including checking, savings, and lending. Many commercial banks, such as Bank of America and Wells Fargo, are large businesses that operate on a multistate or multinational level.
Detailed explanation-2: -Universal banking is a system in which banks provide a wide variety of comprehensive financial services, including those tailored to retail, commercial, and investment services. Universal banking is common in some European countries, including Switzerland.
Detailed explanation-3: -What is the difference between a small finance bank and a commercial bank? Commercial banks do not have restrictions on the customers that they need to serve, whereas the target customers of small finance banks are unorganized workers, small businessmen, small farmers, micro small and medium enterprises.
Detailed explanation-4: -Accepting money on various types of Deposit accounts. Lending money by overdraft, and loans both secured and unsecured. Providing transaction accounts. Cash management. Treasury management. Private equity financing. Issuing Bank drafts and Bank cheques. More items