General utility functions of commercial banks are :
(i) Safe custody of valuables : Banks offer safe deposit vaults (called lockers) where customers can keep their jewellery, documents and other valuables. In this way banks assume safe custody of valuables and important documents of customers. Banks charge rent for this service.
(ii) Issuing credit instruments : Commercial banks issue letters of credit to importers. They also issue cheques to travellers to make money available to them at the place of requirement. Travellers cheques relieve the tourists from the problem of carrying cash during the tour.
(iii) Underwriting capital issues: Banks underwrite shares and debentures issued by companies. In this way banks help them in raising capital from the market. Many commercial banks also offer merchant banking facilities to the corporate sector.(anytwo)