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What is Characteristics and Functions of Commercial Banks about?

Commercial banks are for-profit institutions that accept deposits from the public and use those funds to lend money and provide other financial services. They are typically limited liability companies that are established and owned by individuals, organizations, or governments. Commercial banks perform key functions like accepting deposits, lending, payment facilitation, safekeeping of valuables, and more. They offer various account types like current accounts, savings accounts, and fixed/time deposits.

Author

Jeanmarie Raker

Language

EN