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The Two Main Functions Of MCB Bank

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3.1 Functions of MCB
Basically there are two basic categories of functions of MCB Bank, which are as follows:
1. Principal Function
2. Auxiliary

3.1.1 Principal Function:
The principal functions are basically the core functions of the bank that is the lifeblood of bank, which are:
1. Acceptance of Deposits
2. Financing

3.1.2 Deposits:
There are basically two types of deposits and their nature varies due to time factor, which are:
1. Demand Deposits
2. Time Deposits

3.1.3 Demand Deposits:
The demand deposits have no legal restriction on drawing of the deposited amount and the cash is readily available on demand without any conditions.

Demand deposits are further classified into categories:
1. Current Deposits
2. Saving Deposits

3.1.4 Current Deposits:
The current…show more content…
3.2.3 Collection of Dividends:
The bank provides a very useful service in the collection of dividends or interest earned on stocks and shares held by his customers. The customer is simply to inform the issuer of the securities that the interest on the securities is to be credited to his account in the bank.

3.2.4 Purchase and Sale of Securities:
MCB is authorized by the customer, purchase or sale securities on his behalf and thus adds other benefits to his portfolio.

3.2.5 Transfer of Funds:
MCB also transfer funds of the customers from one bank to another bank. If the transfer is at one station, they don’t charge any commission and even if they charge, they charge on reduce rates.

3.3 Principles of Performance

3.3.1 Customer Focus
Over the years MCB has developed strong relationships with its customers by understanding their needs and treating them with respect, dignity and importance. The driving force behind its commitment and services is its focus on customers, ensuring that it not only meets, but exceeds their
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