Explain the Agency Functions of Commercial Banks.

Answer: Commercial banks provide a variety of services to the customers in writing with a lot of commission. Agency functions of commercial banks are like collecting interest, dividends, payment of rent or insurance, the conduct of stock exchange, transactions, and acting as executor trustees, and attorneys; these banks also advise their customers about investment.

Commercial banks work as a government agency or local authorities for a particular person, and also, these commercial banks are very particular about deadlines and their authority.

• These commercial banks are also acting as management workers for their customers
• They also work as financial advisors
• They also purchase and sell in exchange
• Transferring funds from demand draft mail transfer and many others