Financial knowledge, financial literacy, financial literate, basic knowledge, about business and basic knowledge

2. What is Financial Literacy
Financial literacy is the ability to
understand and use various financial skills,
including personal financial management,
budgeting, and investing
Why is
Financial
Literacy
Important
poor credit
bankruptcy
housing
foreclosure
,
other
negative
conseque
nces.

3. How Do I Become Financially Literate?
creating a budget
keeping track of expenses
being diligent about timely payments
being prudent about saving money,
Periodically checking your credit report
investing for your future.

4. Basic Financial Knowledge
Products/Services
Offered by Banks
Operative
accounts
Instruments
of operative
accounts
Cheque
Demand
drafts
Managers
cheque
Cash
The Main
services
offered in this
sector are
:Savings
account
Current
account
Miscellaneous
services
Safe Deposit lockers
Credit Cards
Cheque collection
Remittance facility
Internet Banking
Phone banking
Demat Facilities

5. Savings account
A minimum quaterly balance needs to be
maintained in this type of account.The
minimum balance criteria differs from bank to
bank
Facilities offered for Savings account
Debit-cum-ATM card
Auto Invest Account
Internet Banking
Phone Banking
Anywhere Banking
Standing instructions
Doorstep service

6. Documents Required to Open a Savings Bank
Account
Pan card
Passport
Driving
license
EMPLOYEE
voter’s ID
BANK
PASSBOOK
RATION
CARD
Identity Proof:
Address proof:
Passport
Utility bill
Letter from a recognized public authority
Bank passbook or Bank account statement
Voter’s
ID
Ration card
LIC policy/ receipt

7. Current Account
A running account
supporting unlimited
withdrawals and deposits
A current account is meant
for convenience and not to
save money
Unlimited Withdrawal and Deposit
Unlimited Cheque book
Demand Drafts and Pay orders
Funds Transfer ( Local or Anywhere)
Collection of Cheque / Drafts
Statements, Advices, Daily statement
by e-mail
Cash withdrawal and Deposits
Multicity Cheque payment facility
Anywhere Banking facility
Doorstep Banking - Pick up and
delivery of Currency / Cheque
Mobile Banking
Facilities offered for current account

8. How to Open Current account
Proof of the
existence of
the business:
Registratio
n and
Licenses
GST
registratio
n
certificate
RBI
registratio
n
certificate.
Licences
by FSSAI
Property
registratio
n
document
s
Property
Tax/Water
tax bills
certificate
issued by
Profession
al Tax
authoritie
s
Documents required for
opening a Current Account:
Proof of identity
Proof of address
Proof of the
existence of the
business:

9. Business Banking
Providing banking and financial
services to small businesses and
small and medium enterprise
(SME) segment customers
What constitutes a business
segment?
Banking needs of a business
segment.
Contribution of MSME.
Need for the Segment
Employment generating
sector
Micro small and medium enterprise
(MSME) sector classification
Contribution to the
economy
Support by the
government
Measures to improve
the growth

10. Business Banking Products
Products
Offered by
Banks to
MSMEs
For meeting
everyday
banking needs
Current accounts
Merchant services
(POS)
Cash
management
services
Internet banking
Financing needs
to grow
business
Working capital
finance
Term loans
Business credit
cards
Collateral free
loans

11. Funded Credit Facilities
Those facilities where there is an actual transfer
of funds from the bank to the borrower
Example:
Term loans, cash credit and overdraft
FCD
Export
Term
loan
Dealer
financi
ng
Bill
purcha
se
Bill
discou
ntiING
Vendor
bill
financi
ng
Import
finance
Cash
credit
Channe
l
finance
overdr
aft
Business
credit
cards

12. Non-Funded Facilities
Those facilities which do not involve such a transfer,
but there is a possibility of fund transfer in future,
depending on certain events
Example:
Letters of credit, bank guarantees
Bank Guarantee Letter of Credit / Documentary Credit

13. Other Products and Services
• Trade Finance
• Dealer Financing / Vendor
Financing / Channel
Financing
• Cash Management Services
• Tax Payment Services
• Syndication Services
• Payment Gateway Services
• Supply Chain Management
• Treasury & Forex Services
• Corporate Salary Accounts
• Bankers to Rights/Public
Issue