What type of services do banks provide as ‘Agent’ of customers? Mention any five services.
3 years ago
Banking
Services of bank to its customers as agent’s are:
- Dealing in Bills of Exchange, Promissory Notes, Hundies and Drafts.
- Issuing letter of credit, Travellers cheques and circular notes.
- Buying, selling and dealing in bullion as well as foreign exchange and foreign bank notes.
- Acting as ‘agent’ for clients, buying and selling shares and debentures and acting as underwriter.
- Collection and remittance of money and extending guarantee against loans raised by customers.
Susmita Sah
Jan 16, 2022