Do banks provide services other than accepting deposits and lending money? Discuss.

1 year ago
Banking

Banks provide many services other than accepting deposits and lending money. The various other services of banks are:

  1. Promoting and mobilising savings of the public.
  2. Providing funds to trade and industry by way of discounting bills, overdraft, cash credit facility and transfer of funds from one place to another.
  3. Providing agency services to customers, such as collection of bills, payments of insurance premium, purchase and sale of securities, etc. and other general services, such as issue of travellers cheques, credit cards, locker facility, etc.
Susmita Sah
Jan 16, 2022
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