ECONOMICS
MONEY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Accepting deposits
|
|
|
Credit creation
|
|
|
Making advances
|
|
|
Controlling money supply
|
Detailed explanation-1: -Hence, Issuing of Notes is not the function of a Commercial Bank.
Detailed explanation-2: -Facilitating import of goods is not a primary function of a bank.
Detailed explanation-3: -Explanation: A commercial bank’s main functions are to receive deposits and to lend money.
Detailed explanation-4: -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.
Detailed explanation-5: -Receiving deposits. Commercial banks receive deposits from customers, and the customers receive some interest for keeping money with the bank. Safeguarding money. Disbursing payments. Providing credit services. 13-Apr-2022