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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
What else can I help you with?
Functions of exchange bank?
most of the time the commercial bank is the only one who exercises exchange function that dont have those rural banks,cooperative banks and etc.Commercial bank also is one who is qualify for applying for universal bank because it has alot of function aside from exchange function but they have also loan discount function ,collection,fiduciary and trust function.
What is ordinary commercial bank?
ordinary commercial bank
What is the organizational structure of a commercial bank?
what are the structure of commercial bank
When was National Commercial Bank created?
National Commercial Bank was created in 1953.
What is the function of the international bank?
Q:describe the function of the international bank ?
What is the function of the National Bank of Pakistan?
The National Bank of Pakistan is a commercial bank for individuals, companies, and the Pakistani government. It provides banking services in the debt equity market, corporate investing, retail banking, consumer banking, agricultural financing, and treasury services.
What are differences between commercial bank and non bank financial institution?
difference between non bank and commercial bank?
What are the commercial banks in Sri Lanka?
The licensed commercial banks in Sri Lanka are: Commercial Bank of Ceylon Hatton National Bank DFCC Vardhana Bank Seylan Bank Sampath Bank Amana Bank NDB Bank Union Commercial Bank Nations Trust Bank Pan Asia Banking Corporation PLC
When was Commercial Bank of Ethiopia created?
Commercial Bank of Ethiopia was created in 1963.
When was Chinatrust Commercial Bank created?
Chinatrust Commercial Bank was created in 1966.
When was Equatorial Commercial Bank created?
Equatorial Commercial Bank was created in 1983.
When was Commercial Bank of Syria created?
Commercial Bank of Syria was created in 1967.
