What do you think a Bank's basic function?

Question

Accepted Answer

A bank's basic function is to provide financial services and facilitate the flow of money in the economy.

Accepting deposits from individuals and businesses
Granting loans and credit to individuals and businesses
Facilitating payments and transfers
Issuing and managing financial instruments like credit cards and checks
Providing financial advice and investment services
Safeguarding customer deposits and assets
Promoting economic growth and stability

Accepted Answer

A Bank's basic function is,  it keeps depositor's money safe and secured and it lends some part of the deposited money to the borrowers. The interest which Bank charges on the loan borrowers and the interest which Bank provides to its depositors the difference between the two is the income of the Bank.

What do you think a Bank's basic function?

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