Banks are providing a wide range of services nowadays. Do you agree?

• Business loans.
• Savings accounts.
• Debit and credit cards.
• Merchant services (credit card processing, reconciliation and reporting, check collection)
• Cash management (payroll services, deposit services, etc.)
• Demat Accounts and Share Trading services.
• Lockers facility

Yes. The description of four services offered by banks are given below
(i) Issue of Bank Draft A hank draft is a type of cheque. It is drawn by a hank either on its own branch or on another hank. Bank draft is a very convenient, cheap and safe method of remitting money from one place to another.
(ii) Pay Order or Banker’s Cheque A pay order or a banker’s cheque means the hank draft which is payable within the city or town. It may be called a local bank draft. Banks issue pay orders for local use and issue bank drafts for outstations. The commission charged for a pay order is lesser than that charged for a bank draft.
(iii) Real Time Gross Settlement (RTGS) It is a funds transfer system under which transfer of funds takes place from one bank to another on a ‘Real Time’ and ‘Gross’ basis. Settlement on ‘Real Time’ means there is no waiting period, in payment-transaction. The transaction is settled as soon as it is processed. ‘Gross’ settlement means the transactior is made on one to one basis without bunching or netting with any other transaction.
(iv) National Electronic Funds Transfer (NEFT) It is a countrywide system by which an individual, firm or company can electronically transfer funds from any bank branch to another individual, firm or company having an account with any other bank branch in the country. The funds transfers take place at a particular period of time. All transfers are held till that time.