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What is a major function of both retail and business banks?

A. reducing the overall money supply
B. regulating payday and title pawn lenders
C. providing checking and savings accounts
D. offering financial services without making profit

1 Answer

2 votes

Answer:

C.

Step-by-step explanation:

Retail banking is a banking system that deals directly with retail consumers. Retail banking is responsible for providing financial aid to the general population. The major function of retail banking includes providing financial aid, checking and savings accounts.

Business banks, on the other hand, are also a part of the banking industry. It specifically deals with corporates and businesses, ranging from small-sized businesses to large-sized corporates. The major function of corporate banking or business banking is also to provide financial aid, checking and savings accounts.

Therefore, option C is the correct answer.

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