Commercial banks perform all of the mentioned functions, which are essential for the smooth functioning of the financial system.

Current accounts provide immediate access to funds and allow unlimited withdrawals, making them the most liquid type of deposit account.

The RBI performs all of the mentioned functions to ensure the stability and soundness of the banking system.

Bank statements serve all of the mentioned purposes, providing customers with a comprehensive overview of their account activity.

Overdrafts allow customers to withdraw more money than they have in their account, up to a predetermined limit, and are typically used for short-term borrowing needs.

The primary difference between debit cards and credit cards is that debit cards deduct funds directly from your account, while credit cards allow you to borrow money and pay it back over time.

Clearinghouses play a crucial role in the banking system by facilitating the exchange of checks and other negotiable instruments, ensuring efficient and timely settlement of transactions.

Commercial banks play a multifaceted role in economic development by mobilizing savings, providing financial services, and promoting financial inclusion, thereby contributing to overall economic growth and prosperity.

The primary difference between bank drafts and cashier's checks is that bank drafts are drawn on the customer's account, while cashier's checks are drawn on the bank's own account, making them more secure and reliable.

Letters of credit serve all of the mentioned purposes, providing a secure and reliable means of payment in international trade transactions.

Commercial banks create money through the process of lending, as they issue new loans and advances, thereby increasing the money supply in the economy.

The primary difference between fixed deposits and recurring deposits is that recurring deposits allow for regular deposits, while fixed deposits do not, providing more flexibility and convenience to customers.

Credit scores serve all of the mentioned purposes, providing lenders with a comprehensive assessment of a borrower's creditworthiness and risk of default.

Commercial banks play a crucial role in promoting financial inclusion by providing banking services to unbanked and underserved populations, offering microfinance and small business loans, and educating customers about financial literacy.