ABC Bank is a prominent financial institution that plays a crucial role in the commerce ecosystem by providing essential banking services. The bank accepts deposits from the public through various accounts, such as saving, current, recurring, and fixed deposit accounts, offering interest rates that help maintain depositor trust. Additionally, ABC Bank lends money at higher interest rates than it pays to depositors, creating profit margins that support its operations. The bank also invests prudently in government securities and financially sound units, ensuring liquidity and safety. To manage short-term financial needs, ABC Bank engages in inter-banking transactions facilitated by the Reserve Bank of India, enhancing its capacity to support both individual and commercial customers effectively.
(1) What essential services does ABC Bank provide in the commerce ecosystem?
(2) How does ABC Bank accept deposits from customers?
(3) What is the bank's primary method of generating profit?