What type of services do banks provide as ‘Agent’ of customers? Mention any five services.

1 year ago

Services of bank to its customers as agent’s are:

  1. Dealing in Bills of Exchange, Promissory Notes, Hundies and Drafts.
  2. Issuing letter of credit, Travellers cheques and circular notes.
  3. Buying, selling and dealing in bullion as well as foreign exchange and foreign bank notes.
  4. Acting as ‘agent’ for clients, buying and selling shares and debentures and acting as underwriter.
  5. Collection and remittance of money and extending guarantee against loans raised by customers.
Susmita Sah
Jan 16, 2022
More related questions

Questions Bank

View all Questions