Modern functions of commercial banks & The principles of commercial banking

Modern functions of commercial banks:

·         Phone banking

·         Issue of debit/credit cards

·         Net banking

·         Bancassurance which is selling of insurance using banking channels.

·         Offering the ATM facility

·         SMS alerts

·         Rail and air ticket reservation

·         NEFT (National Electronic Fund Transfer) and RTGS (Real Time Gross Settlement).

The principles of commercial banking are the principles of:

·         Liquidity

·         Profitability

·         Solvency

·         Safety

·         Collection of Savings

·         Loans and Investment Policy

·         Economy

·         Providing services

·         Secrecy

·         Modernization

·         Specialization

·         Location

·         Relations

·         Publicity