It implies that commercial banks provide some utility services to customers by performing various functions.
(i) Providing Locker Facilities
Commercial banks provide locker facilities to its customers for safe custody of jewellery, shares, debentures, and other valuable items. This minimizes the risk of loss due to theft at homes. Banks are not responsible for the items in the lockers.
(ii) Issuing Traveler’s Cheques
Banks issue traveler’s cheques to individuals for traveling outside the country. Traveler’s cheques are the safe and easy way to protect money while traveling.
(iii) Dealing in Foreign Exchange
Commercial banks help in providing foreign exchange to businessmen dealing in exports and imports. However, commercial banks need to take the permission of the Central Bank for dealing in foreign exchange.

(I) Primary Function:
(1) Accepting Deposits
(2) Demand Deposits
(3) Time Deposits
(4) Advancing Loans
(II) Secondary Functions:
(1) Agency Functions
(2) Collecting Cheques
(3) Collecting Income
(4) Paying Expenses
(5) General Utility Functions
(6) Providing Locker Facilities
(7) Issuing Traveler's Cheques
(8) Dealing in Foreign Exchange
(9) Transferring Funds
(10) Letter of Credit.

(i) Agricultural Refinance Development Corporation (ARDC) was established by an act of parliament.
(ii) It was started functioning from July 1, 1963.
(iii) Formers in India require mainly medium term and long term loans, but it faces a lot of difficulties to getting it.
(iv) The only organisation providing long term credit is land development banks which have lagged behind and only limited success.
(v) The credit requirement of the agriculture sectors are increasing.
(vi) The aim of bridging the gap in agriculture finance and to extend credit for projects involving agricultural development