1.

What are the funtions of a bank? Functions of Banks are :

Answer»
  • Accepting deposits from public and others. 
  • Lending money to public (Loans) and other institutions. 
  • Transferring money from one place to another (Remittances) 
  • Collecting money on cheques, drafts and bills. 
  • Discounting of bills. 
  • Hiring safe deposit lockers. 
  • Conducting foreign exchange transactions.
  • Keeping valuables in safe custody.
  • Issuing letters of credit and guarantee 
  • Conducting government transactions (State & Central)


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