One of the functions of commercial banks is
ECONOMICS
JAMB 2010
One of the functions of commercial banks is
- A. maintaining stable price in the economy
- B. regulating monetary policies
- C. granting loans to customers
- D. issuing bank notes and coins
Correct Answer: C. granting loans to customers
Explanation
The primary functions of a commercial bank are accepting deposits and also lending funds. Deposits are savings, current, or time deposits. Also, a commercial bank lends funds to its customers in the form of loans and advances, cash credit, overdraft and discounting of bills, etc.
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *