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Banking Term: Commercial Bank

Jun 6, 2015 15:08 IST

    Banking Term: Commercial Bank

    • Commercial banks are the single most important source of institutional credit in India

    • A bank is an institution that accepts deposits of money from the public, withdrawable cheque and used for lending

    • Three things about deposits are noteworthy:

    1. They are deposit of money

    2. Deposits are accepted from public at large

    3. Deposits are repayable on demand and withdrawable by cheque

    Functions of Commercial Banks

     

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