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asked 8 months ago
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A Bank is basically a financial institution. It acts as a payment agent to customers and also acts as a borrower and lender in the economic world. Apart from this basic function, it also acts as an investments manager, insurance provider, lease provider etc.
The main functions of a Bank are as follows:
- Issue of Money
- Settlement of payments
- Credit intermediation
- Credit quality improvement
- Maturity transformation
- Collection and payment agent for customers.
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