This document discusses various banking payment products available in India including overdraft, cheques, ATMs, debit cards, credit cards, and internet banking. It defines banking according to the Banking Regulation Act of 1949 and notes that the Reserve Bank of India Act and Banking Regulation Act govern banking operations in India. Each payment product is briefly described, with ATMs explained to allow account checks without a teller using a magnetic strip card containing identity information.

1. Banking Payment Products
By:
Bismay Kumar Sahoo
&
Gyanaranjan Parida
Under the Guidance of:
Dr. K.K. Acharya

2. Introduction:
Banking Regulation Act of India, 1949 defines
“Banking” as “accepting, for the purpose of lending
or of investment of deposits of money from the
public, repayable on demand or otherwise or
withdrawable by cheque, draft order or
otherwise.” The Reserve Bank of India Act, 1934
and the Banking Regulation Act, 1949, govern the
banking operations in India.

3. Types of BankingPaymentProducts:
Over draft
Cheque
ATM
Debit Card
Credit Card
Internet Banking

4. Overdraft

5. Cheques

6. Automated Teller Machine (ATM)
This machine also allows to check their account at
any time and without the need for a human teller.
It is a plastic ATM card with a magnetic strip.
 It contains a unique card number and identity
information.
It is also known as cash cards, bank card, client card,
key card.

7. Debit Cards

8. Credit Cards

9. Internet Banking
 Internet banking involves use of internet for
delivery of banking products and services.

10. Conclusion:
 These are the banking payment products provided
by all banks in India.