The services provided by the international commercial banks are elaborated as follows:

iv) Currency Specific Credit Card: It is a type of loan which is provided to the customers in form of a credit card in which the recipient can avail the benefit of using the card to transact in the foreign currency.

For example if a person lives in India and is issued Currency specific credit card of US then the person can carry out transactions from his credit card in US dollars.

This card does not attract any foreign transaction fee which is one of its benefit. Also the recipient can transact in various multiple currencies if it is a multi currency credit card.

v) Corporate checking account: A corporate checking account is used by businesses and is the property of the business for which it is used. It is an important service which is provided by the international commercial banks to the various corporations.

Corporations carry out large volume of transactions each day therefore they need to ensure that the transactions are carried out smoothly and therefore specialised services are provided to these corporates by opening corporate checking account.

This account is highly liquid as funds come in and go out in huge amounts so the bank keeps a track of all the funds and also provides credit facilities to the high end corporates. In addition to this the corporate checking account provides a service to sweep the checking account in which most of the cash can be withdrawn at any time..