Banking Term: Commercial Bank

Find important banking term that is useful in upcoming banking exam.

Created On: 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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