Question

Commercial Banks provide the facility of fund transfer from one place to another, on account of inter-connectivity of branches. Such facility is called as:​

Answer 1

Explanation:

Remittance of funds: Another salient function of commercial banks is of providing the facility of fund transfer from one place to another, on account of the interconnectivity of branches. ... The bank issues a draft for the amount on its own branches at other places or other banks at those places.