makes loans to private people and businessmen
accept deposits
can store peoples' valuables
can transfer money from one place to another for its customers
saves money through the granting of credits
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in all the banking financial institutions, commercial banks are the only banks that accept peoples valuables for future storage, i.e wrist watches, bangs, golds and lot more.
the distinguishing feature of commercial bank from other banks is nothing else but accepting of deposit
Though, there so many functions of commercial bank. But, d most crucial of it is dat they ensures in safe keeping of valuables like; documents, jewellry and so other tins...
*Unique Function of Commercial Banks*
One unique function of commercial banks is:
Money Creation through Credit
Commercial banks have the ability to create new money through the process of fractional reserve banking, where they lend out a portion of deposits and maintain a reserve requirement. This process allows commercial banks to expand the money supply in an economy.
When commercial banks make loans, they credit the borrower's account, effectively increasing the money supply. This function is unique to commercial banks and plays a crucial role in the economy by facilitating transactions, investments, and economic growth.
They are all characteristics though, but the $ain purpose is saving valuables
All the answers are correct about commercial bank but they store valuable things than other banks
