HACKERSANAND TMOHAMMED AFTHAB N KPRABAHARAN KSUJIHEMA PRIYA
BANKING :In general terms, the businessactivity of accepting andsafeguarding money owned by otherindividuals and entities,...
   MICR code (pronounced my-ker) is a nine-digit    number printed on banking instruments such as    a cheque or a demand...
   This code allows money to drop directly into    your bank account for payments such as    salaries and dividends.   Y...
    It’s a fund transfer mechanism that enables    money to move from one bank to another on    a real time and gross bas...
    This facility would be handy during an    emergency, when you need to transfer funds    quickly, imagine an ill child...
   NEFT enables funds transfer from one bank to    another but works a bit differently than RTGS    since the settlement ...
   You can use this facility if you want to    transfer funds online in a day or two.   NEFT can make life easier for th...
   An 11-digit alphanumeric (letters and numbers)    code that helps identify bank branches.    The first four numbers r...
   When sending money through RTGS or    NEFT, you need to know the IFSC of the    receiving branch.
    It is an anti-fraud security feature that helps    verify that you are in possession of your    credit card and makin...
    You need this number when shopping online    or over the phone.    You need to be careful with this number as it    ...
    PAP or MCC cheques can be encashed anywhere    in India, irrespective of the city they were issued    in.   They are...
   Issuing a PAP or MCC cheque, you can save    demand draft or cheque clearing costs.   Usually, these cheques are issu...
   It is the structured transmission of data between    organizations by electronic means, which is used    to transfer e...
   The UN-recommended UN/EDIFACT is the    only international standard and is    predominant outside of North America.  ...
   Its scheme provides an alternative method of effecting    bulk payment transactions like periodic (monthly/    quarter...
   The Scheme is in operation at 15 centres    where Reserve Bank of India manages    Clearing Houses, 21 centres where S...
   It is the electronic exchange, transfer of    money from one account to another, either    within a single financial i...
   Wire transfer via an international banking network   Cardholder-initiated transactions, using a payment    card such ...
   It is the communication backbone for the Indian    Banking and Financial Sector.   All banks in the public sector, pr...
    Its facilitate the exchange of government    securities and other money market    instruments.    The negotiated dea...
   The negotiated dealing system helps the RBI    enhance the dealings of fixed income    investments.   The NDS, when f...
    Its secure messaging standard developed to serve as    a platform for intra-bank and inter-bank    applications.    ...
   Its another area of application of the INFINET   The CFMS enables banks to obtain    consolidated and account wise, c...
Overall current account balance with the RBI. It makes avilable centralized facility where  banks could obtain the latest...
    It also called electronic bill payment and    presentment.   It is a form of electronic billing in which a    compan...
   The service is also supported by customer    service representatives (CSRs) contacted    directly by the consumer to f...
   Its form of the Electronic banking that    enables the user to communicate interactively    with the bank.   For this...
   It is a computerized telecommunications    device that enables the clients of a financial    institution to perform fi...
   On most modern ATMs, the customer is    identified by inserting a plastic ATM card with a    magnetic stripe or a plas...
   PUBLIC DEBT OFFICE, in the U.S., is a part of    the Department of Treasury and is    responsible for the issuance, co...
   This Directive aims to reduce the systemic risk inherent in    payment and securities settlement systems and to minimi...
   Transfer orders and netting must be legally    enforceable;   Transfer orders may not be revoked once    they have be...
AUTOMATED VOICE RESPONSE (AVR )   According to Automated Voice Response  technology, a customer uses the tone-phone to  s...
Final mb seminar
Final mb seminar
Final mb seminar
Upcoming SlideShare
Loading in …5
×

Final mb seminar

126 views
83 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
126
On SlideShare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Final mb seminar

  1. 1. HACKERSANAND TMOHAMMED AFTHAB N KPRABAHARAN KSUJIHEMA PRIYA
  2. 2. BANKING :In general terms, the businessactivity of accepting andsafeguarding money owned by otherindividuals and entities, and then lending outthis money in order to earn a profit.TERMS : The specific conditions and details ofan agreement or contract. Fixed period forwhich a loan, insurance policy, or bond isissued, a time or fixed deposit is made, ora contract lasts.
  3. 3.  MICR code (pronounced my-ker) is a nine-digit number printed on banking instruments such as a cheque or a demand draft using a special type of ink made of magnetic material. The first three digits denote the city. The fourth to sixth digits denote the bank. while the last three digits denote the branch number. The code is read by a machine, minimizing the chances of error in clearing of cheques, thereby making funds transfer faster.
  4. 4.  This code allows money to drop directly into your bank account for payments such as salaries and dividends. Your tax refund will come to you faster if you remember to mention this on the refund form. Refunds of unwanted money in initial public offers, too, drop back if you put down your code on the application form.
  5. 5.  It’s a fund transfer mechanism that enables money to move from one bank to another on a real time and gross basis. Simply put, real time means the transaction is settled instantly without any waiting period and gross means that it is not bunched with any other transaction.
  6. 6.  This facility would be handy during an emergency, when you need to transfer funds quickly, imagine an ill child studying in another city or a parent in an emergency situation and needing money at once. You would be able to use this facility if you use Internet banking as a channel.
  7. 7.  NEFT enables funds transfer from one bank to another but works a bit differently than RTGS since the settlement takes place in batches rather than individually, making NEFT slower than RTGS. The transfer is not direct and RBI acts as the service provider to transfer the money from one account to another. You can transfer any amount through NEFT, even a rupee.
  8. 8.  You can use this facility if you want to transfer funds online in a day or two. NEFT can make life easier for those who need to send money to their parents or children living in another city. It cuts the trouble of issuing a cheque or draft and posting it. NEFT, too, can be done only through Internet banking. Visit RBI website for a list of branches where you will get this facility.
  9. 9.  An 11-digit alphanumeric (letters and numbers) code that helps identify bank branches. The first four numbers represent the bank’s code (alphabetic), the fifth number is a control character (0), and the next six numbers denote a bank branch. For example, the IFSC for HDFC Bank Ltd’sKozhikode branch in Kerala reads as HDFC0000085. This code is mentioned on your cheque. Different banks mention it at different places on the cheque.
  10. 10.  When sending money through RTGS or NEFT, you need to know the IFSC of the receiving branch.
  11. 11.  It is an anti-fraud security feature that helps verify that you are in possession of your credit card and making the transaction. CVV is usually a three-digit number printed on the signature panel at the back of your credit card
  12. 12.  You need this number when shopping online or over the phone. You need to be careful with this number as it can make you a victim of fraud. It’s best to remember this number and blacken it off from your card.
  13. 13.  PAP or MCC cheques can be encashed anywhere in India, irrespective of the city they were issued in. They are treated as local clearing cheques across the country. The amount is credited in the account the same day and there are no inter-city collection charges associated with a normal cheques being encashed in another city. A cheque issued at a branch in Chennai, can be encashed at a branch in coimbatore as if it were a local cheque.
  14. 14.  Issuing a PAP or MCC cheque, you can save demand draft or cheque clearing costs. Usually, these cheques are issued by companies to disburse dividends or redemption amounts.
  15. 15.  It is the structured transmission of data between organizations by electronic means, which is used to transfer electronic documents or business data from one computer system to another computer system, i.e. from one trading partner to another trading partner without human intervention. It is more than mere e-mail; for instance, organizations might replace bills of lading and even cheques with appropriate EDI messages. It also refers specifically to a family of standards.
  16. 16.  The UN-recommended UN/EDIFACT is the only international standard and is predominant outside of North America. The US standard ANSI ASC X12 (X12) is predominant in North America. The TRADACOMS standard developed by the ANA (Article Numbering Association now known as GS1) is predominant in the UK retail industry. The ODETTE standard used within the European automotive industry
  17. 17.  Its scheme provides an alternative method of effecting bulk payment transactions like periodic (monthly/ quarterly/ half-yearly/ yearly) payments of interest/ salary/ pension/ commission/ dividend/ refund by Banks/Companies /Corporations /Government Departments. The transactions under this scheme move from a single User source (i.e. Banks/Companies /Corporations /Government Departments) to a large number of Destination Account Holders (Customers/Investors). This scheme obviates the need for issuing and handling paper instruments and thereby facilitates improved customer service by the Banks and Companies/Corporations/Government Departments effecting bulk payments
  18. 18.  The Scheme is in operation at 15 centres where Reserve Bank of India manages Clearing Houses, 21 centres where SBI is managing ECS on behalf of RBI and 29 other centres where PNB and other banks are managing ECS on behalf of RBI
  19. 19.  It is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer- based systems.
  20. 20.  Wire transfer via an international banking network Cardholder-initiated transactions, using a payment card such as a credit or debit card Direct deposit payment initiated by the payer Direct debit payments, sometimes called electronic checks, for which a business debits the consumers bank accounts for payment for goods or services Electronic bill payment in online banking, which may be delivered by EFT or paper check Transactions involving stored value of electronic money, possibly in a private currency
  21. 21.  It is the communication backbone for the Indian Banking and Financial Sector. All banks in the public sector, private sector, cooperative, etc., and the premier financial institutions in the country are eligible to become members of the INFINET. The INFINET is a Closed User Group Network for the exclusive use of member banks and financial institutions and is the communication backbone for the National Payments System, which caters mainly to inter-bank applications like RTGS, Delivery Vs Payment , Government Transactions, Automatic Clearing House, etc
  22. 22.  Its facilitate the exchange of government securities and other money market instruments. The negotiated dealing system will also be responsible for hosting new issues of government securities.
  23. 23.  The negotiated dealing system helps the RBI enhance the dealings of fixed income investments. The NDS, when fully implemented, eliminate the physical exchange of forms between its trading members
  24. 24.  Its secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. It is an Indian standard similar to SWIFT (Society for World-wide Interbank Financial Telecommunications) which is the international messaging system used for financial messaging globally. SFMS can be used practically for all purposes of secure communication within the bank and between banks. The SFMS was launched on December 14, 2001 . it is a modularized and web enabled software, with a flexible architecture facilitating centralized or distributed deployment.
  25. 25.  Its another area of application of the INFINET The CFMS enables banks to obtain consolidated and account wise, center wise position of current accounts with different Deposit Accounts Department (DADs) of RBI It is Centralized Funds Enquiry System (CFES) that is based on the current and other accounts maintained at the different DADs This mechanism allows for the dissemination of information online as regards the bank’s
  26. 26. Overall current account balance with the RBI. It makes avilable centralized facility where banks could obtain the latest consolidated, center-wise and account wise position of their balances with RBI. This allows for the optimum use of the funds of the bank and to make alternate arrangements to obtain funds at competitive rates.
  27. 27.  It also called electronic bill payment and presentment. It is a form of electronic billing in which a company presents (sends) its bills and customers pay these electronically over the Internet. Certain electronic billing applications also provide the ability to electronically settle payment for goods or services. Customers of banks and billing companies can use the internet or the phone to conveniently remit payments as well as access their billing information.
  28. 28.  The service is also supported by customer service representatives (CSRs) contacted directly by the consumer to facilitate payments or receive general assistance and answer questions. It can produce substantial savings to traditional print & mail billing and payment remittance, and as an added benefit is a significant reduction in the use of paper
  29. 29.  Its form of the Electronic banking that enables the user to communicate interactively with the bank. For this communication the client uses only GSM mobile phone with WAP service. With its options and the method of controlling WAP banking reminds an easy form of Internet banking.
  30. 30.  It is a computerized telecommunications device that enables the clients of a financial institution to perform financial transactions without the need for a cashier, human clerk or bank teller. ATMs are known by various other names including ATM machine, automated banking machine, "cash machine" (Geldautomat - Germany) and various regional variants derived from trademarks on ATM systems held by particular banks
  31. 31.  On most modern ATMs, the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and some security information such as an expiration date or CVVC (CVV). Authentication is provided by the customer entering a personal identification number (PIN). Using an ATM, customers can access their bank accounts in order to make cash withdrawals, debit card cash advances, and check their account balances as well as purchase pre- paid mobile phone credit
  32. 32.  PUBLIC DEBT OFFICE, in the U.S., is a part of the Department of Treasury and is responsible for the issuance, control, and payment of government issued securities in compliance to existing regulations.
  33. 33.  This Directive aims to reduce the systemic risk inherent in payment and securities settlement systems and to minimise the disruption caused by the insolvency of a participant in such a system. The Directive aims to reduce the systemic risk associated with participation in payment and securities settlement systems ("systems"), and in particular the risk linked to the insolvency of a participant in such a system. To this end, it lays down common rules stipulating that:
  34. 34.  Transfer orders and netting must be legally enforceable; Transfer orders may not be revoked once they have been entered into the system; The insolvency of a participant may not have retroactive effects; The insolvency law applicable is the law of the Member State whose system is involved.
  35. 35. AUTOMATED VOICE RESPONSE (AVR ) According to Automated Voice Response technology, a customer uses the tone-phone to send ‘digitized data messages’ to the system in order to activate a particular service. The customer is then ‘prompted’ by the service to provide one or more type of instruction. Sometimes, the technology also requires the customer to say one of a number of particular words down the telephone.

×