Ans: Agency functions (2013, 2015, and 2017): These functions are performed by the banker for its own customer. For these bank changes certain commission from its customers. These functions are:
(a) Remittance of Funds: Banks help their customers in transferring funds from one place to another through cheques, drafts etc.
(b) Collection and payment of Credit Instruments: Banks collects and pays various credit instruments like cheques, bill of exchange, promissory notes etc.
(c) Purchasing and Sale of securities: Banks undertake purchase and sale of various securities like shares, stocks, bonds, debentures etc. on behalf of their customers.
(d) Income Tax Consultancy: Sometimes bankers also employ income tax experts not only to prepare income tax returns for their customer but to help them to get refund of income tax in appropriate cases.
(e) Acting as Trustee and Executor: Banks preserve the wills of their customers and execute them after their death.
(f) Acting as Representatives and Correspondent: Sometimes the banks act as representatives and correspondents of their customers. They get passports, travelers tickets secure passages for their customers and receive letters on their behalf.