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What is Functions of Commercial Banks Explained about?

A commercial bank is a profit-seeking business that deals in money and credit by accepting deposits from the public and making loans to businesses and individuals. It creates credit by lending out funds received as deposits. There are several types of commercial banks including industrial banks, savings banks, agricultural banks, and exchange banks. The primary functions of commercial banks are accepting deposits and advancing loans through various means such as overdrafts, cash credits, and term loans. Sec

Author

Yoseph Kassa

Language

EN