Service can be cannot be stored for a future use. 

Disagree.  Private sector banks are owned, managed and controlled by the private promoters and they are free to operate as per market forces. 

Public sector banks are those in which the government has a major stake and they usually need to emphasise on social objectives than on profitability.

Allied services provided by the banks include locker facilities, a collection of dividends, buying and selling of shares, bill of payments. 

Mr. Pavan has two accounts, one in Delhi and the other in Mumbai. The transfer of funds from one branch to another can be done with the help of demand draft. 

True. Crossed cheque provides a level of security to the payer than a bearer cheque. 

Consolidation function shows that a warehouse receives and consolidates, materials /goods from different production plants and dispatches the same to a particular customer on a single transportation shipment. 

False. Cargo covers any risk to the cargo like theft of goods, loss of goods or on the voyage. 

While filling the form the insured should be truthful and honest in giving information to the insurance company. 

Disagree. If the cargo does not reach the destination due to some damage or loss in transit, then the shipping company is not paid the freight charges.