Question : Which of the following is not a primary function of commercial banks?
Option 1: Transfer of funds
Option 2: Creation of credit
Option 3: Lending loans to the public
Option 4: Receiving deposits from the public
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Correct Answer: Transfer of funds
Solution : The correct answer is Transfer of funds.
There are many commercial banks in our country, and the primary functions of commercial banks are the creation of credit, lending loans to the public, and receiving deposits from the public. Commercial banks receive deposits from the public at lower rates and lend loans to the public at higher rates. The transfer of funds is not a primary function of commercial banks.
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