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One of the essential functions that a bank performs is that of?
Transferring money from savers to spenders
What are the functions of sbi bank?
The State Bank of India acts as an agent of the ReserveBank of India and performs the following functions: (1) Borrows money: The Bank borrows money from the public by accepting deposits such as current account deposits, fixed deposits and savings deposits. (2) Lends money: It lends money to merchants and manufacturers for short periods. It also lends to farmers and co-operative institutions. It lends mostly on the security of easily realizable commodities like rice, wheat, cotton, oil-seeds, cloth, gold and government securities. The Bank can lend against agricultural bills up to a maximum period of fifteen months and in case of other bills up to a maximum period of six months. (3) Banker's Bank: The State Bank of India acts as the banker's bank. In discharging this responsibility, the bank provides loans to commercial bank when required and also rediscount their bill. It also acts as the clearing house of the commercial bank. (4) Government's Bank: The State Bank of India also acts as the agent of the Reserve Bank of India. As an agent, the State Bank of India maintains the treasuries of the State Government. The Bank also manages the debts floated by the State Governments. (5) Remittance: The State Bank of India facilitates remittance of money from one place to another. It also helps in the transfer on the funds of the State and Central Government. (6) Functions as Central Bank: The State Bank of India performs the functions of a Central Bank. (7) Subsidiary functions: The State Bank performs various subsidiary services also. It collects checks, drafts, bill of exchange, dividends interest, salaries and pensions on behalf of its customers. It purchases and sells securities on behalf of its customer. It receives valuables and documents for safe custody and maintains safe deposit vaults.
Functions of finance department in a bank?
to control the bank position financially
What does the trust department do in a bank?
I think that a trust department is what performs services to people within a bank. Helping out with a will, taxes, real estate, and paying bills.
What are the functions of marchant bank?
A merchant bank is a bank which does commercial lending and business banking services, leasing and factoring for example
One of the essential functions that a bank performs is that of?
Transferring money from savers to spenders
What did a ATM machine do?
performs the functions of a telleridentify customerverify validity of accountreport balancesperform transactionscount cashinteract with bank's central computeretc.
Which is A state which performs functions aimed at the welfare of the people?
a one word for the stste which performs functions aimed at the welfare of the people
What performs all the life functions?
strength or energy
What happeneds when a cell is specialized?
It performs specific functions.
What happen when cells is specialized?
It performs specific functions.
Which bank in India performs duties of central banks?
state bank of india
What are the special functions the stomach performs?
it breaks down food
What performs functions specific to a business or industry?
Custom Software
What performs the excretory and homeostatic functions of the urinary system?
kidneys
What is the smallest unit of life that performs life functions?
A Cell
Where does the Rules Committee performs it functions?
The Rules Committee performs its function in the House of Representatives.
