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Business Services
Question
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What is NEFT ?

Answer

NEFT is a nation-wide system that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual firm or corporate having an account with any other bank branch in the country.

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Some More Questions From Business Services Chapter

What do you mean by the term warehousing ?

What do you mean by Public Warehouse ?

What is meant by cold storage houses ?

Explain any three considerations which a business firm should take into account for choosing a suitable mode of transport.

Under the principle of subrogation, why does the right of ownership of damaged property pass on to the insurer after the compensation has been paid to the insured ?

How does the insurance distribute the loss ?

What do you mean by specialised banks ? Give three examples of specialised banks.

Write down the types of postal services.

Name the services included in postal services.

Write down the non-banking services of postal services.