Commercial Banks

Definitions of commercialized Banks While defining the term banks it is taken into word of honor report that what type of task is performed by the banks. Some of the storied definitions atomic number 18 given below: check to Prof. Sayers, A bank is an asylum whose debts ar widely authentic in settlement of another(prenominal) peoples debts to each other. In this definition Sayers has emphasized the transactions from debts which be raised by a monetary institution. According to the Indian Banking Comp all Act 1949, A banking guild means any company which transacts the business of banking . Banking means evaluate for the purpose of lend of investment of deposits of money from the public, payable on gather up or other wise and strike out able by cheque, limn or otherwise. Functions of technical Banks Commercial bank being the financial institution performs diverse types of functions. It satisfies the financial needs of the sectors such as agricultu re, industry, trade, communication, etc. That means they go very significant design in a work out of economic social needs. The functions performed by banks are changing consort to change in cartridge holder and recently they are becoming customer centric and rig their functions. Generally the functions of commercial banks are divided into two categories viz.

primeval functions and the unoriginal functions. The following chart simplifies the functions of banks. Primary Functions of Commercial Banks Commercial Banks performs heterogeneous primary functions some of them are given below 1. delve ju dgment Deposits : Commercial bank accepts v! arious types of deposits from public in particular from its clients. It includes saving(a) account deposits, recurring account deposits, fixed deposits, etc. These deposits are payable after a certain time period. 2. qualification Advances : The commercial banks provide loans and advances of various forms. It includes an over draft facility, take up credit, bill discounting, etc. They also give penury and demand and term...If you want to get a full essay, order it on our website: BestEssayCheap.com

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