BUSINESS SERVICES (BANKING)

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THIS PPT IS PREPARED BY ME ON TOPIC BANKING FOR SUBJECT BST .

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BUSINESS SERVICES (BANKING)

  1. 1. BUSINESS SERVICES COMPILED BY – NITISH BHARDWAJ
  2. 2. BUSINESS SERVICES
  3. 3. What is a Bank • Bank is a financial institution or financial intermediary that collects deposits and channels those deposits into lending activities • RBI is the central bank in India that regularizes all the banks in India • There are 19 public sector banks
  4. 4. BANKING • • A bank is a financial institution The banking regulation act 1949 Defines the term banking as “The accepting for the purpose of lending or investment of deposits of money from the public , repayable on demand or otherwise and withdrawal by cheque , draft ,order or otherwise “.
  5. 5. o ELEMENTS OF BANKING THERE SHOULD BE ACCEPTANCE OF DEPOSITS o THE DEPOSITS SHOULD BE RECEIVED FROM THE PUBLIC o THE DEPOSIT SHOULD BE REPLAYABLE ON DEMAND OR ON THE EXPIRY OF A TERM OR AFTER A SPECIFIED PERIOD o THE PURPOSE OF
  6. 6. BANK ACCOUNTS TYPES OF BANK ACCOUNT • • • • • • • Banks in India have FIVE types of accounts namely   SAVING ACCOUNT CURRENT ACCOUNT FIXED DEPOSIT ACCOUNT RECURRING DEPOSIT ACCOUNT MULTIPLE OPTION DEPOSIT ACCOUNT
  7. 7. SAVING ACCOUNT THIS ACCOUNT IS MENT FOR PEOPLE WHO WANT TO SAVE A PART OF THEIR INCOME FOR FUTURE . FEATURES OF SAVING ACCOUNT • ENCOURAGES SAVING HABITS • ENABLES INCOME IN FORM OF INTEREST • BANK PROVIDE CHEQUES FACILITY • BANK PROVIDE NUMERUS SERVICES
  8. 8. FEATURES OF CURRENT ACCOUNT THIS ACCOUNT IS OPENED BY WHO HAVE A NUMBER OF REGULAR TRANSACTION WITH BANK , BOTH DEPOSITS AND WITHDRAWALS • SMOOTH TRANSACTINS • NO RESTRICTION ON DEPOSIT AND WITHDRAWL • • • CHEQUES FACILITY • OVERDRAFT FACILITY  NO INTEREST ON SUCH ACCOUNTS
  9. 9. FIXED DEPOSITS ACCOUNTS IN THIS ACCOUNT AMOUNT IS DEPOSITED WITH BANK FOR A FIXED PERIOD OF TIME FEATURES OF FIXED DEPOSIT ACCOUNT • • • • • SAVING FOR LONG PERIOD FROM 7 DAYS TO 10 YEARS EARN HIGH INTEREST RATE GET LOAN FACILITY ALSO KNOW AS ‘TERM DEPOSIT ACCOUNT ‘ OR ‘ TIME DEPOSIT ACCOUNT ‘
  10. 10. RECURRING DEPOSIT ACCOUNT TO SAVE REGULARLY THIS ACCOUNT IS OPENED BY THOSE WHO WANT FOR A CERTAIN PERIOD OF TIME AND EARN HIGH RATE OF INTEREST FEATURED OF RECURRING DEPOSIT ACCOUNT • • • • • • REGULAR SAVING HABITS FIXED PERIOD OF 6 MONTHS TO 10 YEARS HIGH RATE OF INTEREST LOAN FACILITY BANK UTILISE FUNDS FOR LOANS
  11. 11. MULTIPLE OPTION DEPOSIT ACCOUNT MOD ACCOUNT IS A COMBINATION OF SAVING ACCOUNT AND FIXED DEPOSITIT ENABLES THE ACCOUNT HOLDER TO EARN INTEREST ON MONEY FEATURED OF RECURRING DEPOSIT ACCOUNT • HIGH INTEREST RATE • CHEQUES FACILITY • MODs IS AVAILABE FOR A PERIOD OF 3/6/12/ 24 MONTHS • ALSO KNOW AS ‘AUTO SWEEP
  12. 12. BANKING SERVICES BANK OVERDR AFT BANKERS CHEQUE e-BANKING BANK DRAFT CASH CREDIT NATIONAL ELECTRONIC FUND TRANSFER (NEFT) REAL TIME GRASS SETTLEMENT (RTGS)
  13. 13. BANK DRAFT • • • • • REQUISION SLIP IS FILLED TO ISSUE DRAFT MODE OF SECURE PAYMENT / FOR OUTSTATION NO RISK OF DISHONOURE FEE IS CHARGED BY BANK TO ISSUE DRAFT IT IS ALSO KNOW AS ‘DEMAND DRAFT ‘ OR ‘BANKERS DRAFT’
  14. 14. BANKERS CHEQUE (PAY ORDER) SAME LIKE BANK DRAFT (SECURE , NO RISK OF DISHONOURE) FEE IS CHARGED BY BANK TO ISSUE PAY ORDER PAYMENT FOR LOCAL CLEARING DONE BY PAY ORDER
  15. 15. • FUND TRANSFER SYSTEM • ONLINE TRANSFER • OPERATED BY RBI • REAL TIME SETTLEMENT WITHOUT • • • • NETTING MINIMUM 2 LAKH TRANSFER FAST TRANSFER (REAL TIME ) SERVICE CHARGE IS CHARGED
  16. 16. ONLINE FUND TRANSFER NET SETTLEMENT BASIS NO MIN AND MAX LIMIT OF TRANSFER 1 DAY INVOLVED IN TRANSFER SERVICE CHARGE IS CHARGED ALL INDIA COVERGAGE
  17. 17. STEPS TO DO NEFT / RTGS
  18. 18. BANK OVERDRAFT CASH CREDITLOAN GIVEN AGAINST • COUSTOMER IS • ALLOWED TO OVERDRAW HIS CURRENT ACCOUNT • • • BANK GIVE THIS FACILITY AFTER TAKING SOME SECURITY • • KIND OF TEMPORARY LOAN • BANK CHARGES CURRENT ASSETS LIKE SHARES , STOCKS BONDS ETC • CREDIT LIMIT IS SANCTIONED AND BORROWE MAY WITHDRAW ANY AMOUNT WITHIN CREDIT LIMIT • • HELPFUL IN MEETING DAY TO DAY WORKING • • INTREST IS CHARGED

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