Bank contributions

Bank contributions

Bank contributions to trade commerce is very important of a country. It is not possible the development of a country without bank management.Any country of the world is not self-sufficient of goods and services.So one country of the world depends on others for fulfillment of their demands.In this situation bank contributions are given below:

A) Contributions to the Foreign Trade and

B) Contribution to the Home Trade

A) Contributions to the Foreign Trade

1. Bank helps to manage to import and export trade.
2. Bank finances  for foreign trade.
3. Bank collecting the foreign currency on behalf of the customers.
4. Bank arranges foreign exchange though bank to bank correspondence with different country.
5. Bank contributes  to expand the market on behalf of the exporter.
6. Bank works as a buying selling agent of the exporter.
7. Bank supply the information as per the requirement of the customers.
8. Bank makes payment of the acceptance and payment of the bill of exchange.
9. Bank sends to the Important documents of the foreign trade to the importers or exporters.
10. Bank sending swift for fund transfer as the representative of the importer and exporter.

B) Contribution to the Home Trade

1. Bank helps for capital formation and investment.
2. Bank helps to capital supply.
3. Bank preserves money and goods.
4. Bank provides/issues  the medium of exchange (such as draft, payment order, demand draft etc).
5. Bank helps in large scale production.
6. Bank gives the credit facility to the industrialist for long or short terms.
7. Bank sales of company shares.
8. Bank collects cheques and bills etc.
9. Bank gives the customers overdraft facility.
10. Bank helps transfer of money.
11. Bank provides financial certificate.
12. Bank makes settlements of transactions.
13. Bank works as financial advisers and consultants.
14. Bank works as a representative of the customers.

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