____ is an institution that accept deposits for lending purposes
____ is an institution that accept deposits for lending purposes.
(a) Commercial Banks
(b) Life Insurance Corporation
(c) Reserve Bank of India
(d) Government of India
Anurag Pathak Changed status to publish December 25, 2023
Ans – (a)
Explanation:-
A commercial bank is an institution that performs the functions of accepting deposits, granting loans, and making investments, to earn profits.
The functions performed by commercial banks can be broadly categorised under two heads.
(i) Primary Functions
(ii) Secondary Functions
Primary Functions:
Commercial banks perform two primary functions:
1. Accepting Deposits
2. Advancing of Loans
Anurag Pathak Changed status to publish December 25, 2023
