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Question
Fill in the blank with appropriate alternatives given below
__________ is a primary function of commercial banks.
Options
Purchasing and selling securities
Accepting deposits
Safe deposit vault
Letter of credit
Solution
Accepting deposits is a primary function of commercial banks.
Explanation:
Accepting deposits from the general public is the basic function of a commercial bank. A portion of these deposits is then lent out by the banks to the general public as loans at some rate of interest. Other functions of commercial bank include discounting of bills, investing funds, granting loans etc.
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