Question

The Service Which Helps in Removing Hindrance of Exchange Is:

Answer 1

The service which helps in removing hindrance of exchange is “Banking”.

The amount required to acquire assets and meeting the day-to-day expenses is provided by the financial and banking institutions. Banks also undertake the remittance of funds to different places, collection of cheques, and discounting of bills on behalf of traders. In foreign trade, payments are dealt with by commercial banks on behalf of importers and exporters.

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