Banking in India originated in the last decades of the 18th century The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806In 1948, the Reserve Bank of India, Indias central banking authority, wasnationalized,In 1949, the Banking Regulation Act was enacted which empowered the ReserveBank of India (RBI) "to regulate, control, and inspect the banks in India."The Banking Regulation Act also provided that no new bank or branch of an existingbank could be opened without a license from the RBI, and no two banks could havecommon directors.Currently, India has lot of commercial banks public sector banks private banks -foreign banks.
Allahabad BankAndhra BankBank of BarodaBank of IndiaBank of MaharastraCanara BankCentral Bank of IndiaCorporation BankDena BankIDBI BankIndian BankIndian Overseas BankOriental Bank of CommercePunjab & Sind BankPunjab National BankSyndicate BankUCO BankUnion Bank of IndiaUnited Bank of IndiaVijaya Bank
Bank of RajasthanCatholic Syrian BankDhanalakshmi BankFederal BankHDFC BankICICI BankING Vysya BankJammu & Kashmir BankKarnataka BankKarur Vysya BankKotak Mahindra BankSBI Commercial and International BankUTI BankYES Bank
ABN-AMRO BankAbu Dhabi Commercial Bank Ltd.American Express Bank LtdBNP ParibasCiti bankDBS Bank LtdDeutsche BankHSBC LtdStandard Chartered BankBarclays Bank
Andhra Bank Dena BankBank of Baroda Indian BankBank of India Indian Overseas BankBank of Maharashtra Oriental Bank of CommerceCanara Bank Punjab & Sind BankCentral Bank of India Punjab National BankCorporation Bank State Bank of India & AssociatesVijaya Bank Syndicate BankIDBI Bank UCO Bank Union Bank of India United Bank of India
Banking services Keeping money safe & also allowing withdrawals when needed Issuance of checkbooks Provide personal loans, commercial loans, and mortgage loans Issuance of credit cards and debit cards Allow financial transactions ATM Services Provide overdraft & DD. Notary service for financial and other documentsForeign exchange services Currency Exchange - where clients can purchase and sell foreign currencybanknotes. Wire transfer - where clients can send funds to international banks abroad. Foreign Currency Banking - banking transactions are done in foreign currency.Insurance brokers & Stock Brokers
Core Banking is a general term used to describethe services provided by a group of networked bankbranches. Bank Customers may access their funds and othersimple transactions from any of the member branchoffices at REAL TIME.
Internet banking (e banking) is the latest trend in banking products &services · Improve customer access · Facilitate the offering of more services · Increase customer loyalty · Attract new customers · Provide services offered by competitors · Reduce customer attrition
Using Internet banking services,Using Internet banking services, Go online: Go online: Inter Bank Transfer Third party transfer Online standing instructions for periodical transfer Credit PPF accounts across branches Request for Issue of Demand Draft Request for opening of new accounts Request for closure of Loan Accounts Request for Issue of Cheque Book
Using Internet banking services,Using Internet banking services, Go online: Go online: Other salient value-added features available are: Utility bill payments Online Ticket Booking for travel SBILIFE, LIC and other insurance premia payments SBI and other Mutual funds Investments SBI and other Credit Card dues payments Tax Payment – Income, Service, State Govt Customs Duty Payment Online Share Trading (eZ-trade@SBI) Online Application for IPO Fee Payment to select educational institutions including IITs and NITs
Account InformationMini-statements and checking of account historyAlerts on account activityMonitoring of term depositsAccess to loan statementsMutual funds / equity statementsInsurance policy managementStatus on cheque, stop payment on chequeOrdering check booksBalance checking in the accountRecent transactionsBlocking of cardsPayments, Deposits, Withdrawals, and TransfersDomestic and international fund transfersMobile rechargingBill payment processingPeer to Peer payments
Download Application- (StateBankFreedom.jar)RegisterCheck SMS to get User ID ,MPIN & TidChange MPIN before using services To Register Txn ATM Services M Banking http://www.statebankofindia.com/user.htm
Funds transfer (within and outside the bank ) Enquiry services (Balance enquiry/ Mini statement) cheque book request Demat Enquiry Service Bill Payment (Credit cards, Insurance premium payments) Donations, Subscriptions M Commerce (Mobile Top Up, Top up of Tata Sky, Recharge ofOther DTHs, SBI life insurance premium) Stop payment instruction on a cheque De-activating a credit or debit card Foreign currency exchange rates enquiry Fixed deposit interest rates enquiry Electronic bill payment
(Electronic Clearing Service) Electronic Funds Transfer (EFT) is a system of transferring money from onebank account directly to another without any paper money changing hands. SBI e-PAY - A simple and convenient service for receiving and paying your bills online No more late payments No more queues OnlinePay: Using SBI e-PAY you can see and pay your various bills online, directly from your SBI Account. You can pay telephone, electricity, insurance, credit card and other bills - from the comfort of your home or office, 24 hours a day, 365 days a year! AutoPay: You can also set up AutoPay instructions with an upper limit to ensure that your bills are paid automatically whenever they are due. The upper limit ensures that only bills within the specified limit are paid automatically, thereby providing you complete control over these payments. The e-PAY service is available in various cities across the country and you can now make payments to several billers in your region.
Point of sale (POS) or checkout is the location where a transaction occurs. A"checkout" refers to a POS terminal or more generally to the hardware and softwareused for checkouts, the equivalent of an electronic cash register.
SBI -3D Secure ServiceThe main advantages of shopping online are convenienceand cost savings, while the main disadvantage is that the item is notimmediately available, and you cannot inspect itpersonally before you make your purchase. https://sbi.electracard.com/sbi/enrollment/enroll_welcome.jsp
What are different types of bank accounts?Savings Account (SBCurrent Account(CCFixed Deposits accountRecurring Deposits accountDEMAT AccountNRE A/cNRO A/CFCNR A/cCA a/c - Current accountSalary AccountRecurring deposit accountOverdue account - OD a/cProprietorship accountPartnership accountFirm accountCompany account