The features of a bank are:
(i) Acceptance of deposit of money from the public.
(ii) Refunds deposits on demand.
(iii) Lending or investing money for promotion and development of business.
(iv) Profitable employment of funds received as deposits from the people and
(v) Money is withdrawn by cheque or draft.

Banks issue credit cards to customers and other eligible persons.With this card, the holder can purchase goods and services on credit at any shop in India.If the dues are paid within the stipulated time no interest is charged.The credit limit is fixed by the issuing bank based on the income of the cardholder.

i) Corporation Bank,Oriental Bank of Commerce and Vijaya Bank has tied up with Life Insurance Corporation of India.
ii) SBI has joined hands with BNP Paribas Cardif - a French company to sell insurance products.

The important features of a cheque are:
(i) Instrument in writing: According to law, a cheque must be in writing. It does not specify any particular material with which it ie to be written. But printed cheque. leaves are supplied by the bankers and customers. are asked to use the pen for filling them.
(ii) Unconditional order: It is an order topay the amount without any condition. The banker may refuse to honour a cheque having any condition attache<ito a cheque.
(iii) A certain sum of money only: The amount of money to be paid must be certain and specified both in words and figures in the cheque. Thebanker would return the cheque if there is difference in words and figures.
(iv) Signed by the Drawer: A cheque is valid only if it bears the signature of the drawer. The signature of the drawer must tally with his specimen signature already with the bank. In case of illiterate person, his left hand thumb impression is to be affixed on the cheque.
(v) Payable on Demand: The cheque is always payable on demand though not mentioned therein. A cheque has to be presented for payment within 6 months from date of issue.
(vi) Date of the cheque: A cheque should be dated. Payment will be made by the banker on or after such date. A cheque may be: (a) post-dated and (b) ante-dated. If a cheque has been in circulation for more than 6 months from the date of issue, it becomes a stale cheque. The banker will dishonour the cheque. If the drawer puts the prior date, the date of presenting to the bank, it is called ante-dated cheque.
(vii) Specified Banker: A cheque is a bill of exchange drawn on a specified banker only and not on any other individual, body corporate or otherwise. The cheque should contain the name of the banker, address of the branch, etc., to enable the holder to present the cheque for payment.
(viii) The payee must be a certain person: The payee must be a certain person. For this purpose an individual, the official capacity of an individual, companies,societies, institutions, etc., are considered as a person.
(ix) Payable either to order or to Bearer: The cheque amount is payable either to the order of a certain person or to the bearer. If the drawer 'wishes to pay only to a specified person, he may add the word' only' after the payees' name.

1) NEFT:
National Electronic Funds Transfer This was launched by the RBI in 2005. Under this electronic funds transfer system,bulk transfer of transactions is settled in batches during specific timings across India.Individuals and institutions which maintain accounts with a NEFT enabled bank branch are eligible for using NEFT.Transactions do not occur under real time basis.Once in every half hour from 8.00 am to 7.30 pm.23 settlements are allowed in a day.NEFT transfers are not allowed on Sundays and bank holidays.Both NEFT and RTGS use IFSC (Indian Financial System Code) - a 11 digit alphanumeric code,to identify a bank branch. IFSC is provided by IDRBT (Institute for Development & Research on Banking Technology),Hyderabad.
2) RTGS:
Real Time Gross Settlement Systems It was launched by the RBI in 2013.The transactions are settled on real time basis.Gross settlement means the transaction is settled between one bank and another bank without adding any other transactions.RTGS facility is available between 9.00 am to 4.30 pm on weekdays and up to 2.00 pm on Saturdays.In one day the RTGS routes about 60,000 transactions worth about 2,700 billion and covers over 52,000 bank branches located in 10,000 cities and towns. RTGS transfers are not allowed on Sundays and bank holidays.Minimum limit for RTGS transaction is 2 lakhs.
3) Electronic Clearing Services (ECS):
ECS was launched by the RBI in 1995. It is an electronic method of fund transfer from a commerce 1-15.indd 112 24-03-2018 12:56:55 113 bank to another bank.ECS credit can be used to credit salary,dividend,interest,pension etc.and ECS debit is used to debit monthly telephone bills, electricity bills, equated monthly instalments (EMI) payments.For this purpose the account holding individuals and institutions concerned should fill up certain forms and submit to the banks.ECS transactions between banks are settled in the current account maintained in the clearing house.
4) CORE Banking Solutions:
'CORE' stands for 'Centralized Online Real time Exchange'.In the centralized server of the bank,all the details of all the accounts of all the branches of the bank are available.A customer can withdraw money through cheque at any branch of that bank throughout the world.Similarly anyone can deposit money into the account.Entry of the transactions is recorded in the centralized server of the bank in real time and can be seen in all the branches of the bank.This facility is called core banking solutions.
5) Internet Banking or Virtual Banking:
Internet banking refers to performing banking operations through internet,using computers and mobile phone.This can be done by a customer from home or office or any part of the world and all 24 hours of 7 days.

(i) More Production and Economic growth:
(1) These Banks supply the Vitamin money to all sectors of the economy including manufacturing sector.
(2) As a result all the sectors produce more.
(ii) Capital Formation:
(1) Banks encourage savings habit among people and accumulate their small dormant savings.
(2) These funds can be fruitfully channelised for productive purposes of the Economy.
(iii) Consortium Finance :
(1) Thousands of crores required to establish a mega factory is not available from a single source.
(2) Banks join together and provide consortium Finance in such cases.
(iv) Service coverage to Non-monetised sector:
(1) Banks transfer funds from Surplus areas and make them available in scarce districts or areas for the formation and operation of Business institutions.
(2) Even growth of different regions can be achieved through this function.
(v) Smoothing of Trade and Commerce:
(1) For the efficient functioning of all traders and Business institutions in a country, safe keeping of their funds, transfer of funds, payment and collection of funds when and where needed is very much necessary. Banks perform this function.
(vi) Development of industry, agriculture, MSME's and SHG's :
(1) Banks design methods and instruments of Financing each sector differently.
(2) They provide finance for small farmers, medium traders as well as industries.
(3) For Example : Banks allow micro credit to SHGs, overdraft to traders and issue of certificate of deposits to finance industries.
(Vii) Implementation of Monetary Policy :
(1) Banks have established customer relationship with all public and business institutions through the network of branches.
(2) Broad guidelines or rules of the government for the monetary sector of a country cannot be applied without such banks.
(viii) Encourages Export and International Trade:
(1) Banks open Foreign branches or establish correspondent relationship with banks in Foreign countries to help Exporters.
(2) Instruments like letter of Credit and International factoring services are undertaken to help Exporters and Importers.
(ix) New Entrepreneurs and Employment  opportunities :
(1) Entrepreneurs obtain project loans and establish new Business.
(2) By providing the required credit banks generate more economic activities and new employment opportunities.

Mutual Fund is a financial intermediary that pools the savings of investors for collective investment in diversified portfolio securities in the capital market and money market. Many banks like SBI,Indian Bank, eic., have set up mutual fund subsidiaries.

Commercial banks started identifying and offering new and diversified financial services, They are purely other than banking services. Providing all such banking and other financial services is also called universal banking.

Drawing two parallel transverse lines on the left top of the cheque.It implies that the money will not be paid over the counter but through bank account only.

*99# is the number for the funds transfer from any mobile phone.It was launched in 2014.Every common man in India can transact banking transactions from any comer of India.

In order to present as a Gift the denomination printed cheques are available in attractive design.This is known as Gift Cheque.

It is a credit facility extended to the current account holding business community customers.The customers are allowed to overdraw (when there is no balance money in the account) up to certain amount usually for 3 months period. It is an unsecured credit.