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Identify and explain the concept from the given illustration: ABC bank provides D-mat facility, safe deposit lockers, internet banking facilities to its customers. - Economics

Short Note

Identify and explain the concept from the given illustration:

ABC bank provides D-mat facility, safe deposit lockers, internet banking facilities to its customers.

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Solution

Concept: Ancillary functions

Explanation:

  1. Commercial banks provide a range of ancillary services. It includes the transfer of funds, collection of money, making periodical payments on behalf of the customer, merchant banking, foreign exchange, safe deposit lockers, D-mat facility, internet banking, mobile banking, etc.
  2. Hence, this illustration relates to the concept of ‘ancillary functions’ as ABC bank provides D-mat facility, safe deposit lockers, internet banking facilities to its customers.
Concept: Structure of Money Market in India - Organized Sector
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APPEARS IN

Balbharati Economics 12th Standard HSC Maharashtra State Board
Chapter 9 Money Market and Capital Market in India
Exercise | Q 5. (4) | Page 92
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