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A commercial bank refers to a normal bank that provides the basic banking services to the residents of a country.
Some of the different services available from commercial banks to its customers are:
- Checking/Current account
- Savings accounts
- internet/Mobile Banking
- ATM Cards
- Check Books
- Deposit Accounts
- Loans
- Credit Cards etc
The Functions of a Commercial Bank can be classified as follows:
1. Primary Functions
a) Accepting of Deposits.
b) Lending
2. Secondary Functions.
a) Agency Services.
b) General Utility Services
3. Services through their Subsidiaries
a) Merchant Banking Services
b) Leasing.
c) Housing Finance.
d) Factoring Services.
e) Insurance Services.
Under general utility services we can include modern facilities provided by banks like, for example,
a) Locker Facilities and Safe Deposit Functions.
b) Autoamted Teller Machines (ATM)
c) Credit Cards and Debit Cards.
d) Tele-banking.
e) Internet Banking
f) Online Ticket Bookings.
g) Electronic Funds transfer.
h) Real Time Gross Settlement (RTGS) Service
i) Online tax payment services
M.J.SUBRAMANYAM, XCHANGING, BANGALORE
Wiki User
∙ 11y ago
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