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Banks are providing a wide range of services nowadays. Do you agree?

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CBSE/Class 11/Commerce/Business Studies Tuition/Class XI-XII Tuition (PUC)

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Artha Academy

Yes, banks provide a vide range of services like accepting deposits, lending of advances, honouring financial instrumrnts like cheques, demand drafts, bills etc. Nowadays banks are also providing services like demat account services, insurance services.
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Yes. The description of four services offered by banks are given below(i) Issue of Bank Draft A hank draft is a type of cheque. It is drawn by a hank either on its own branch or on another hank. Bank draft is a very convenient, cheap and safe method of remitting money from one place to another.(ii) Pay... read more

Yes. The description of four services offered by banks are given below
(i) Issue of Bank Draft A hank draft is a type of cheque. It is drawn by a hank either on its own branch or on another hank. Bank draft is a very convenient, cheap and safe method of remitting money from one place to another.
(ii) Pay Order or Banker’s Cheque A pay order or a banker’s cheque means the hank draft which is payable within the city or town. It may be called a local bank draft. Banks issue pay orders for local use and issue bank drafts for outstations. The commission charged for a pay order is lesser than that charged for a bank draft.
(iii) Real Time Gross Settlement (RTGS) It is a funds transfer system under which transfer of funds takes place from one bank to another on a ‘Real Time’ and ‘Gross’ basis. Settlement on ‘Real Time’ means there is no waiting period, in payment-transaction. The transaction is settled as soon as it is processed. ‘Gross’ settlement means the transactior is made on one to one basis without bunching or netting with any other transaction.
(iv) National Electronic Funds Transfer (NEFT) 

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Tutor

Business loans. Savings accounts. Debit and credit cards. Merchant services (credit card processing, reconciliation and reporting, check collection) Cash management (payroll services, deposit services, etc.) Demat Accounts and Share Trading services. Lockers facility read more
  • Business loans.
  • Savings accounts.
  • Debit and credit cards.
  • Merchant services (credit card processing, reconciliation and reporting, check collection)
  • Cash management (payroll services, deposit services, etc.)
  • Demat Accounts and Share Trading services.
  • Lockers facility
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Yes.Apart from older services of accepting deposits and advancing loans nowadays banks provide the facilities like checking of accounts, debit and credit cards, collection and payment of credit instruments,consultancy services,foreign currency exchange,online banking, home bankingetc.
Comments

Tutor

Different types of business banking services include: Business loans. Savings accounts. Debit and credit cards. Merchant services (credit card processing, reconciliation and reporting, check collection) Cash management (payroll services, deposit services, etc.) Locker Facility Demat Services Tranding... read more
Different types of business banking services include:
  • Business loans.
  • Savings accounts.
  • Debit and credit cards.
  • Merchant services (credit card processing, reconciliation and reporting, check collection)
  • Cash management (payroll services, deposit services, etc.)
  • Locker Facility
  • Demat Services
  • Tranding in shares
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Tutor

Yes, I agree with the statement "Banks are providing a wide range of services nowadays. Some of the examples are: Online line submission of fees through Challan, Netbanking etc. Wallet service for faster payment. Ecommerce, Payment Gateway System etc.
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Senior Aerospace engineer, an expert in physics

yes, now there is huge competition even in the banking sector, which is enforcing them to improve and provide much more than they did in past.
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It is without any doubt that with increasing globalisation and commercialisation of every services banks are not left behind. They are infact become very customer friendly by providing numerous services, such as, opening accounts, deposits, loans offering and many more.
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Interested to teach to class 1 to 5, 6 to 8

Yes. The description of four services offered by banks are given below(i) Issue of Bank Draft A hank draft is a type of cheque. It is drawn by a hank either on its own branch or on another hank. Bank draft is a very convenient, cheap and safe method of remitting money from one place to another.(ii) Pay... read more

Yes. The description of four services offered by banks are given below
(i) Issue of Bank Draft A hank draft is a type of cheque. It is drawn by a hank either on its own branch or on another hank. Bank draft is a very convenient, cheap and safe method of remitting money from one place to another.
(ii) Pay Order or Banker’s Cheque A pay order or a banker’s cheque means the hank draft which is payable within the city or town. It may be called a local bank draft. Banks issue pay orders for local use and issue bank drafts for outstations. The commission charged for a pay order is lesser than that charged for a bank draft.
(iii) Real Time Gross Settlement (RTGS) It is a funds transfer system under which transfer of funds takes place from one bank to another on a ‘Real Time’ and ‘Gross’ basis. Settlement on ‘Real Time’ means there is no waiting period, in payment-transaction. The transaction is settled as soon as it is processed. ‘Gross’ settlement means the transactior is made on one to one basis without bunching or netting with any other transaction.
(iv) National Electronic Funds Transfer (NEFT) It is a countrywide system by which an individual, firm or company can electronically transfer funds from any bank branch to another individual, firm or company having an account with any other bank branch in the country. The funds transfers take place at a particular period of time. All transfers are held till that time.

 

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YES
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