Give 16 circumstances under which the bank can act as its customer's agent.
Answers
Answer:
private bank is an bank can act as it's customer agents
The bank is a financial institution of the economy that helps to channelize funds with economics to create more money.
EXPLANATION-
Nowadays, the bank is upgraded with many services also that lead to efficiency and the effectiveness of funds channelizing also has the right to act as an agent for their customers.
Here, the list of how a bank works as customers agents-
• Work as an investment advisor- Yes, the bank does works as an investment advisor for the customer that can be a firm, Organizing, business or an individual. They help to make a better understanding of who money works and what can be the best way to invest money to get more returns.
• Receiver and Giver of payments - Bank does accept and provide payments on the behalf of the customer. This brings smooth functioning of the bank and well as for the customer business.
• Supportive Guideline - Bank gives a supportive guideline to all the existing members as well as new bu updating with banks functioning from time to time.
The above three are the main way a bank work as an agent-
Other is -
Pay of bills
Collection of salaries
Payment of premium
Identification of income and payment.
Legal supervision
Learn more from here how bank work as customers agent - https://brainly.in/question/10636515