Answer :

The two most important features of a commercial or nationalized bank are,

1. Acceptance of deposits

2. Lending of money

The main function of a commercial bank are as follows:

● It accepts deposits: deposits are the lifeline of banks.

Current account deposit

Fixed term deposits

Saving account deposits

● It gives loans and advances

Cash credit

Demand loans

Short term loans

● Overdraft facility

● Discounting bills of exchange

● Agency functions of the bank

Transfer of funds

Collection of funds

Payments of various items

Purchase and sale of shares

● General services:

Locker facility

Purchase and sale of foreign currencies

Traveller's cheques and gift cheques

A nationalized bank is a financial institution which performs various functions. The rate of interest offered by the banks to depositors is called the borrowing rate.

Its primary aim is to make a profit.

Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
Importance of Personality DevelopmentImportance of Personality DevelopmentImportance of Personality Development46 mins
About Vaccine Development!About Vaccine Development!About Vaccine Development!52 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
view all courses

Visit a nationaliMHB - History & Political Science

Answer the folMHB - History & Political Science

Complete the follMHB - History & Political Science

Give reasons.
MHB - History & Political Science

Choose right optiMHB - History & Political Science

Identify the wronMHB - History & Political Science

With the help of MHB - History & Political Science

Explain the conceMHB - History & Political Science