Question

Explain the agency services rendered by commercial bank

Answer 1

Agency functions of commercial banks. 1. Collection of Cheques, Dividends, Interests etc.: Collecting cheques, drafts, bill of exchange, dividends, interests etc. on behalf of its customers and credit the amount in their account is one of the most important agency services rendered by the banks.

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Answer 2

Answer:

Agency services rendered by commercial bank

Explanation:

commercial banks offer sure services to their clients in go back of a few fee, those are known as as enterprise features. a number of them are:

1:collection of cheques, payments and drafts .

2:price of interest, instalments of loans, coverage premium and so forth.

3:purchase and sale of securities.

series of Cheques, Dividends, pastimes and so on.: accumulating cheques, drafts, invoice of trade, dividends, interests and so on. on behalf of its customers and credit the quantity in their account is one of the maximum essential agency services rendered with the aid of the banks. Banker accepts standing commands from the clients and arranges to accumulate dividend, interest, pension, salaries, payments and so on. on behalf of his clients.

2. charge of Subscription, hire, coverage premium and so on.: Banks undertake the price of subscriptions, hire, insurance premium and so forth. on behalf of the clients and debit the account with the quantity. It accepts the standing commands of the purchaser and arranges for.the charge of such expenses on their behalf. It expenses a small quantity by way of commission for these offerings.

3. conduct of inventory alternate Transactions: Banks purchase and promote diverse securities inclusive of shares, debentures, bonds and many others. of joint stock companies both personal and authorities on behalf of their clients.

4. acting as Executor, Trustees, lawyers and so on.: Banks act as executors of will, trustees, legal professionals and administrators. As an executor it preserves the “Wills” of the customers and executes them after their dying. As a trustee, it looks after the budget of the customers. As an lawyer, it signs and symptoms switch bureaucracy and files on behalf of the client.

Explain the agency services rendered by commercial bank

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