Question:
Which among the following is an ancillary function of a bank?
Which among the following is an ancillary function of a bank?
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Ancillary banking functions support core operations, such as foreign exchange services.
Updated On: Jan 8, 2025
- Foreign Exchange
- Credit Creation
- Demand Deposits
- Lending of Funds
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The Correct Option is A
Solution and Explanation
Ancillary functions of banks include services provided in addition to their primary functions.
Foreign Exchange is an ancillary function, involving currency conversion and international trade facilitation.
Credit Creation, Demand Deposits, and Lending of Funds are primary banking functions.
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