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ANCILLARY SERVICES & CASH MANAGEMENT SERVICES
What is the primary purpose of ancillary services offered by banks?
Ancillary services are non-core banking products offered to generate fee-based income and provide value-added convenience to customers, such as locker facilities, remittances, and utility bill payments.
What is the full form of CMS in banking?
Cash Management Services
What is Cash Management Services (CMS) in banking?
Cash Management Services (CMS) refers to a suite of services offered by banks to corporate clients to efficiently manage their cash flows, including collections, payments, liquidity management, and account reconciliation.
What type of instrument is a Pay Order valid for?
Local payments within the same city only
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