Explain the primary and secondary functions of commercial banks.

Commercial banks play a vital role in the financial system by performing various functions that support economic growth and financial stability. In the context of Corporate Accounting, understanding the functions of commercial banks is crucial, as corporations heavily depend on banking institutions for funding, financial transactions, and advisory services. The functions of commercial banks are broadly classified into primary functions and secondary functions.

### Primary Functions of Commercial Banks:

1. Accepting Deposits:
   The most fundamental function of a commercial bank is to accept deposits from the public, businesses, and institutions. These deposits are of different types such as savings deposits, current deposits, and fixed deposits. In the corporate context, companies often maintain current accounts for facilitating frequent transactions, while fixed deposits are used to park surplus funds to earn interest.

2. Granting Loans and Advances:
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