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