Commercial Banks

Definitions of commercialized Banks While defining the term banks it is taken into watchword report that what type of task is performed by the banks. Some of the noted definitions atomic number 18 given below: harmonize to Prof. Sayers, A bank is an asylum whose debts ar widely real in settlement of another(prenominal) peoples debts to each other. In this definition Sayers has emphasise the transactions from debts which be raised by a fiscal institution. According to the Indian Banking Comp all Act 1949, A banking company means any company which transacts the business of banking . Banking means judge for the purpose of lend of investment of deposits of money from the public, payable on gather up or other wise and hark back able by cheque, limn or otherwise. Functions of commercial message Banks Commercial bank being the financial institution performs diverse types of functions. It satisfies the financial needs of the sectors such as agriculture , industry, trade, communication, etc. That means they summercater very significant design in a cultivate of economic social needs. The functions performed by banks are changing check 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 petty(a) functions. The following chart simplifies the functions of banks. Primary Functions of Commercial Banks Commercial Banks performs versatile primary functions some of them are given below 1. bring bac k judgment Deposits : Commercial bank accep! ts various types of deposits from public peculiarly 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. making Advances : The commercial banks provide loans and advances of various forms. It includes an over draft facility, bills credit, bill discounting, etc. They also give involve and demand and term...If you want to get a full essay, order it on our website: BestEssayCheap.com

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