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A PPB ANCILLARY SERVICES
What is the primary purpose of ancillary services offered by banks?
Ancillary services are non-core banking services that supplement the main banking functions, helping banks generate fee-based income and provide comprehensive financial solutions to customers.
What is the meaning of the term 'ancillary services' in banking?
Non-core, fee-based services supplementing primary banking activities.
Which regulatory body governs the provision of insurance products by banks in India?
The Insurance Regulatory and Development Authority of India (IRDAI) regulates insurance products, while the RBI governs the bancassurance arrangements between banks and insurance companies.
What is the full form of NACH and what purpose does it serve?
National Automated Clearing House; facilitates bulk electronic transactions.
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