Introduction: Commercial banks are financial institutions that accept deposits, make loans and offer a wide range of financial services to individuals, businesses, and governments. They are the backbone of the financial system and play a crucial role in the economic development of a country.

Functions of Commercial Banks:

1. Accepting Deposits: One of the primary functions of commercial banks is to accept deposits from individuals and businesses. Deposits can be in the form of savings accounts, current accounts, fixed deposits, and recurring deposits.

2. Granting Loans: Commercial banks provide loans to individuals and businesses for various purposes such as purchasing a home, starting a business, or expanding an existing business. They also provide working capital loans, overdraft facilities, and term loans.

3. Issuing Credit Cards: Commercial banks issue credit cards to their customers, which enable them to make purchases and pay bills online or at retail outlets.

4. Facilitating International Trade: Commercial banks facilitate international trade by providing services such as export-import financing, foreign exchange services, and letters of credit.

5. Investing in Securities: Commercial banks invest in securities such as government bonds, corporate bonds, and shares of publicly traded companies.

6. Providing Treasury Services: Commercial banks provide treasury services to their clients, which include managing cash flows, hedging risks, and investing surplus funds.

7. Offering Insurance: Some commercial banks offer insurance products such as life insurance, health insurance, and general insurance.

8. Providing Wealth Management Services: Commercial banks provide wealth management services to high net worth individuals, which include investment planning, tax planning, and estate planning.

Conclusion: In conclusion, commercial banks provide a wide range of financial services that are essential for the smooth functioning of the economy. They play a crucial role in mobilizing savings, allocating capital, and facilitating economic growth.