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Which function is the Secondary Function of Commercial Banks?
Agency Function
General Utility Function
Social Function
All of these
- Agency Function: Banks act as agents for their customers. They perform tasks like managing payments, collecting cheques, and buying/selling securities.
- General Utility Function: This involves providing useful services, such as safe deposit lockers, issuing traveler’s cheques, and foreign exchange services.
- Social Function: Banks also contribute to societal growth. They promote saving habits, provide loans for small enterprises, and help in rural development.
- All of these ??: Commercial banks perform all these secondary functions, offering a blend of agency, utility, and social functions to support their clients and contribute to the economy.
By: santosh ProfileResourcesReport error
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