{"id":86327,"date":"2025-06-01T03:43:28","date_gmt":"2025-06-01T03:43:28","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=86327"},"modified":"2025-06-01T03:43:28","modified_gmt":"2025-06-01T03:43:28","slug":"which-one-of-the-following-is-considered-as-an-agency-function-of-comm","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-is-considered-as-an-agency-function-of-comm\/","title":{"rendered":"Which one of the following is considered as an agency function of comm"},"content":{"rendered":"

Which one of the following is considered as an agency function of commercial banks in India ?<\/p>\n

[amp_mcq option1=”Acceptance of deposits” option2=”Investment of surplus funds” option3=”Acceptance of income tax payments” option4=”Providing overdraft facilities” correct=”option3″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC CDS-2 – 2022<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nThe correct answer is C. Accepting income tax payments is considered an agency function of commercial banks.
\n<\/section>\n
\n– Agency functions of a bank involve acting as an agent or representative for their customers.
\n– This includes services like collecting payments (like taxes, utility bills), paying subscriptions, acting as an executor or trustee, buying and selling securities on behalf of customers, and handling foreign exchange transactions.
\n– Primary banking functions include accepting deposits (creating liabilities for the bank) and providing loans and advances (creating assets for the bank). Investment of surplus funds and providing overdraft facilities fall under these broad categories (asset management and lending).
\n<\/section>\n
\nModern banks perform a wide range of functions classified into primary functions (accepting deposits, granting advances), agency functions, and general utility functions (like locker facilities, issuing drafts, etc.).
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Which one of the following is considered as an agency function of commercial banks in India ? [amp_mcq option1=”Acceptance of deposits” option2=”Investment of surplus funds” option3=”Acceptance of income tax payments” option4=”Providing overdraft facilities” correct=”option3″] This question was previously asked in UPSC CDS-2 – 2022 Download PDFAttempt Online The correct answer is C. Accepting income tax … <\/p>\n

Detailed SolutionWhich one of the following is considered as an agency function of comm<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1088],"tags":[1108,1120,1190],"class_list":["post-86327","post","type-post","status-publish","format-standard","hentry","category-upsc-cds-2","tag-1108","tag-economic-development","tag-money-banking","no-featured-image-padding"],"yoast_head":"\nWhich one of the following is considered as an agency function of comm<\/title>\n<meta name=\"description\" content=\"The correct answer is C. Accepting income tax payments is considered an agency function of commercial banks. - Agency functions of a bank involve acting as an agent or representative for their customers. - This includes services like collecting payments (like taxes, utility bills), paying subscriptions, acting as an executor or trustee, buying and selling securities on behalf of customers, and handling foreign exchange transactions. - Primary banking functions include accepting deposits (creating liabilities for the bank) and providing loans and advances (creating assets for the bank). Investment of surplus funds and providing overdraft facilities fall under these broad categories (asset management and lending).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-is-considered-as-an-agency-function-of-comm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Which one of the following is considered as an agency function of comm\" \/>\n<meta property=\"og:description\" content=\"The correct answer is C. Accepting income tax payments is considered an agency function of commercial banks. - Agency functions of a bank involve acting as an agent or representative for their customers. - This includes services like collecting payments (like taxes, utility bills), paying subscriptions, acting as an executor or trustee, buying and selling securities on behalf of customers, and handling foreign exchange transactions. - Primary banking functions include accepting deposits (creating liabilities for the bank) and providing loans and advances (creating assets for the bank). Investment of surplus funds and providing overdraft facilities fall under these broad categories (asset management and lending).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/which-one-of-the-following-is-considered-as-an-agency-function-of-comm\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T03:43:28+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Which one of the following is considered as an agency function of comm","description":"The correct answer is C. 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