What are the general utility functions of a bank?

What are the general utility functions of a bank?

Some of the most important utility functions of the banks may include the issue of drafts, letter of credits, etc., locker facility, underwriting of shares, dealing in foreign exchange, project reports, social welfare programs, other utility functions.

What are the functions of bank of Baroda?

Bank of Baroda

  • Savings Account. Bank of Baroda offer 15 types of savings accounts to its customers to serve their needs.
  • Home Loan.
  • Car Loan.
  • Education Loan.
  • Fixed Deposit.
  • Credit Card.
  • Balance Enquiry.
  • Net Banking.

What is a general utility?

Job Summary The General Utility, under the direction of the department manager/supervisor, is responsible for assisting in any and all phases of production, preparation, sanitation and/ or packaging of the product. Packages or assists in packing, finished goods, parts, materials, and equipment for customer delivery.

What are the general utility services rendered by a commercial bank?

Utility functions include:

  • To provide safe deposit boxes to customers.
  • To provide money transfer facility.
  • To issue traveler’s cheques.
  • To act as referees.
  • To accept various bills for payment: phone bills, gas bills, water bills.
  • To provide various cards such as credit cards and debit cards.

What are the services of Bank of Baroda?

Apart from the Loans, Deposits and Cards, Bank of Baroda offers other services that add value to our banking system, such as capital market services, collection services, ECS, etc. Browse through all the other services that we offer to our customers.

What are the strategies of Bank of Baroda?

Promotion Strategy of Bank of Baroda The bank promotes its services through the internet, newspapers, magazines, and on television through advertisements. Recently it also omitted all the internet transaction charges incurred by its customers to promote digital transactions for 3 months.

What do you understand by general utility function of commercial banks?

Two general utility functions of commercial banks are: To safe guard the valuable items of their customers, commercial banks provide safety lockers to them. Commercial banks are involved in foreign exchange business. They finance foreign trading by accepting foreign bills of exchange.

What is the meaning of utility services?

Utility services means any products, services and equipment related to energy, telecommunications, water and sewerage.

What are the general services of a banker?

Services of Banks

  • Advancements of loans.
  • Cheque payments.
  • Discounting on bills of exchange.
  • Collecting and paying the credit instruments.
  • Guarantee by banks.
  • Consultancy.
  • Credit cards.
  • Funds remittance.