Home › BBA › Business Studies › Business Services › Transferring funds between places using bank dra…
Transferring funds between places using bank drafts, pay orders or mail transfers is:
AAcceptance of deposits
BDiscounting of bills
CUnderwriting of shares
DRemittance of funds
Answer & Solution
Correct answer: D. Remittance of funds
1. Branches are interconnected.
2. A nominal commission is charged.
3. That function is remittance of funds.
_Source: NCERT Class 11 Business Studies, Chapter 4, Business Services._
Related questions
Insurance works by spreading the loss caused by an uncertain event over:A benefit of e-banking for customers is service available:Electronic funds transfer can be done two ways: NEFT and:Banking done over the internet using a computer or mobile phone is:A cheque that must be deposited only into the payee's account is a:Time deposits carrying a higher rate of interest than savings accounts are:Deposits that can be withdrawn at any time without prior notice are in a:Which bank supervises and regulates all commercial banks of India?