Commercial banks’ functions in India – UPSC Prelims PYQ 2010
The functions of commercial banks in India include
- Purchase and sale of shares and securities on behalf of customers.
- Acting as executors and trustees of wills.
Which of the statements given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Explanation
Both statements are correct
- Commercial banks perform agency functions, including:
- Buying/selling securities for customers
- Acting as trustees, executors, and administrators of estates
- These are non-core but recognised banking services.
Answer: (c) Both 1 and
