Question

"Commercial banks in India are now financial super markets" Explain the statement in view of innovative functions of commercial banks.

Answer 1

Nowadays many banks in India provide various financial services: banking, insurance, investment, accounting, factoring, leasing, realtor, legal, consulting, publishing, travel, etc. It enables the commercial banks to satisfy diverse customer needs and turns them into so called “financial supermarkets” – places, where customers can get different kinds of financial services.