1.

Anand, a 12th class student went to SBT and met the manager. He asked manager about major functions performed by the bank. What may be the answer given by the manager?

Answer»

Functions of commercial banks 

  • A. Accepting deposits of 3 kinds 
  • Current account deposits 
  • Fixed-term deposits  
  • Saving account deposits 

B. Giving loans and advances 

  • Cash credit 
  • Demand loans 
  • Short term loans

C. Agency functions 

  • Transfer of funds 
  • Collection of funds 
  • Payments of various items 
  • Purchase and sale of shares and securities 
  • Collection of dividends
  • Trustees and executors of property 
  • Letter of references

D. Financing of foreign trade 

E. Supply of liquidity 

F. Performing general utility functions


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