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FUNCTIONS OF COMMERCIAL BANKS - Coggle Diagram
FUNCTIONS OF COMMERCIAL BANKS
PRIMARY FUNCTIONS
credit creation
use of cheque system
making loans and advances
transfer of funds
receiving deposits from the public
current deposit
savings deposit
recurring deposit
fixed deposit
SECONDARY FUNCTIONS
Agency Services
remittance of funds
act as representative/correspondent
purchase & sale of securities
act as a administrator
execution of standing orders
deals foreign exchange
acts as a trustee / executer
collection of credit instruments
General Utility services
provides information
underwrites shares
fund transfer
letter of credit
locker facility
issue of gift cheques
safe custody of valuables
collection of statistics
credit cards, traveller's cheques ,etc
INNOVATIVE/MODERN FUNCTIONS
Home/PC banking
Internet Banking
Tele Banking
Electronic Fund Transfer System
smart cards
NEFT,RTGS IMPS<etc
ATM Services
Bancassurance
Mobile Banking