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JAMB Economics 2010 Question 33

Question 33

Financial Institutions

One of the functions of commercial banks is

  1. A.maintaining stable price in the economy
  2. B.regulating monetary policies
  3. C.granting loans to customers
  4. D.issuing bank notes and coins.
Show the answer and explanation

Answer: C (granting loans to customers)

Explanation

Giving loans and overdrafts is a function of commercial banks; the other options are central bank duties.