QUICK REVISION FOR BANKING (811) CBSE CLASS 12 - BINDIYA.M.S
ANCILLARY SERVICES OF BANKS SUMMARY PREPARED BY BINDIYA.M.S Ancillary services of banks refer to additional services beyond traditional banking functions like deposits and lending. These services are designed to complement core banking activities and cater to various financial needs of customers. Here are some common ancillary services provided by banks, which you might find in Class 12 banking notes: 1. Locker Facility : Banks offer locker facilities to customers for safekeeping of valuable items such as jewelry, important documents, etc. These lockers are available in various sizes, and customers pay rent for their usage. 2. Electronic Fund Transfer (EFT) : EFT services enable customers to electronically transfer funds from one account to another, either within the same bank or to accounts in other banks. It includes services like NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement), IMPS (Immediat...