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10th Class Chapter No 8 - Banking – Commercial Banks in economics for ICSE

Commercial bank is a financial institution which performs the functions of accepting deposits from the public and making loans and investments, with the motive of earning profit. 

commercial bank is a type of financial institution that accepts deposits, offers checking account services, makes various loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses.

The general role of commercial banks is to provide financial services to the general public and business, ensuring economic and social stability and sustainable growth of the economy. In this respect, credit creation is the most significant function of commercial banks.

Commercial Banks – Types, Functions, Role in Economic development. Commercial Banks comprise of public sector banks, private sectors banks and foreign banks which represent the most important financial intermediaries in the financial system of a country.

 

Posted in 10th on July 14 2020 at 05:04 PM

ICSE 10th CLASS economics OTHER CHAPTERS

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