Role of Banking Sector - According to Prof. MS. Chhikara, "Banking Sector, managing the demand and supply functions of money, plays a significant role for promoting a healthy, balanced and sustainable development of a country. It is considered as the most important segment responsible for accelerating as well as slowing down the national and global economies. Movements in this sector have almost one to one relationship with the growth of an economy.

A strong financial and banking sector provides the necessary support to the economic system to function effectively and vice versa, so, a sound, systematic and dynamic banking system occupies a pivotal position in the economies world over and supports them to emerge as business leaders.

The information and communication technology revolution is radically and perceptibly changing the operational environment of the Banks, opined Sardar N.S. Gujral, CMD, Punjab & Sind Bank

Banks offer following services to account holders at their specified branches:

Multi-city / payable at par (PAP) cheque facility

Anywhere banking facility, internet banking facility

Credit card, debit/ ATM card, mobile banking and Real Time Gross Settlement (RTGS)

Gradually, foreign banks are expanding the number of products on offer, their complexity such as derivatives, leverage financing

Doorstep banking facilities are being offered by wine of these