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Dear Student,

a) The three friends are foing their jobs in Commercial Banks
Commercial banks are institutions dealing in money. There are two types of Commercial bank i.e. private sector and public sector. They are governed by banking regulation act 1949.

b) Functions performed by a commercial bank are:
1)Acceptance of deposits
2) Lending of Funds
3) Cheque Facility
4) Remittance of Funds
5) Allied Services

Regards

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