Explain in brief the agency functions of a commercial bank.
3 years ago
Banking
The agency functions of a commercial bank are as follows:
(a) Collection and payment of cheques and bills on behalf of the customers.
(b) Collection of dividends, interest and rent, etc on behalf of customers, if so instructed by them.
(c) Purchase and sale of shares and securities on behalf of customers.
(d) Payment of rent, interest, insurance premium subscription etc. on behalf of customers, if so instructed.
(e) Acting as a trustee or executor.
Susmita Sah
Jan 16, 2022