This document summarizes the history and development of the Indian banking system. It discusses the establishment of early banks in India such as the Bank of Calcutta in 1806. It also describes the functions of banks and various technological innovations that have eased banking like ATMs, credit cards, and electronic banking. The latest trends in Indian banking discussed include universal banking, globalization of banking, and use of technologies like satellite banking, phone banking, online banking, and real time gross settlement. Risk management and customer relationship management have also become increasingly important in Indian banks.
Presented by Rahul Kumar Jain, law student, Disha Law College, Raipur at IJSARD (International Journal of Socio-legal Analysis and Rural Development) International Virtual Conference 2017 On Law and Social Sciences.
This presentation have the detailed analysis of the Indian banking sector, how it has evolved and reformes that have come gradually.It also has a classic case of merger of ICICI bank with BOM.
Presented by Rahul Kumar Jain, law student, Disha Law College, Raipur at IJSARD (International Journal of Socio-legal Analysis and Rural Development) International Virtual Conference 2017 On Law and Social Sciences.
This presentation have the detailed analysis of the Indian banking sector, how it has evolved and reformes that have come gradually.It also has a classic case of merger of ICICI bank with BOM.
A slang phrase for credit cards, especially when such cards used to make purchases. The "plastic" portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency. The "money" portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply.
source:net
Fixed deposit (FD) is a type of deposit which can be withdrawn only after a pre-defined tenure and attracts a higher interest rate when compared to savings account. The minimum period for placing these deposit is 7 days while the maximum period is 120 months. A recent study indicates that banks are now free to determine the rate of interest to be offered on FDs. Banks may offer deposits on a floating rate, interest shall be paid on quarterly or longer rests and interest is calculated on daily balance. Further, scheduled banks with a total deposit of less than Rs 25 crores are permitted to give an additional ยฝ% interest. When the amount paid to the individual is in excess of Rs 10,000 bank has to deduct tax at source if the depositor has not submitted Form 15H or 15G or certificate u/s197(1) of the Income Tax Act 1961. Banks have the discretion to disallow premature withdrawal of large deposits other than individuals and Hindu Undivided Family (HUF). On maturity if the bank does not receive any intimation from the depositor then such deposits are recorded as overdue deposits in the books of the bank. Banks can grant loans by taking FD as a security. However, there are certain prohibitions to raising Fixed Deposits: banks cannot launch deposits with freebies such as free lunch and trips, for example.
A slang phrase for credit cards, especially when such cards used to make purchases. The "plastic" portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency. The "money" portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply.
source:net
Fixed deposit (FD) is a type of deposit which can be withdrawn only after a pre-defined tenure and attracts a higher interest rate when compared to savings account. The minimum period for placing these deposit is 7 days while the maximum period is 120 months. A recent study indicates that banks are now free to determine the rate of interest to be offered on FDs. Banks may offer deposits on a floating rate, interest shall be paid on quarterly or longer rests and interest is calculated on daily balance. Further, scheduled banks with a total deposit of less than Rs 25 crores are permitted to give an additional ยฝ% interest. When the amount paid to the individual is in excess of Rs 10,000 bank has to deduct tax at source if the depositor has not submitted Form 15H or 15G or certificate u/s197(1) of the Income Tax Act 1961. Banks have the discretion to disallow premature withdrawal of large deposits other than individuals and Hindu Undivided Family (HUF). On maturity if the bank does not receive any intimation from the depositor then such deposits are recorded as overdue deposits in the books of the bank. Banks can grant loans by taking FD as a security. However, there are certain prohibitions to raising Fixed Deposits: banks cannot launch deposits with freebies such as free lunch and trips, for example.
Principles and Practices of Banking Module 5ARUNKUMAR7358
ย
Banking Technology
Concept of universal banking
Home banking
ATMโs
Internet banking
Mobile banking
Core banking solutions
Debit, credit and smart cards
Electronic payment system
MICR
Cheque truncation
ECS
EFT
NEFT
RTGS
Books referred - Dr.Nirmala Prasad, K. Chandrasass j (Banking and financial system)& Mithani, Gordan (Banking and financial systems)
Today, we are having a fairly well developed banking system with different classes of banks โ public sector banks, foreign banks, private sector banks โ both old and new generation, regional rural banks and co-operative banks with the Reserve Bank of India as the fountain Head of the system.ย
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22. GLOBALISATION OF BANKING
โข Globalization has emerged as a prime mover in the
Indian banking system.
โข This has come about as a result of the policy of
liberalization and opening up of banking and other
sectors pursued after 1991 in India.
โข Foreign banks that wish to set up their
offices/branches in India have been granted
licenses by RBI on liberal and on reciprocal basis.
โข Similarly, Indian banks are also opening their
offices/branches abroad, particularly in countries
whose banks have opened offices in India
23. SATELLITE BANKING
โข Satellite banking is an upcoming technological
innovation in the Indian banking industry.
โข It is expected to help in solving the problem of
weak terrestrial communication links in many
parts of the country.
โข The use of satellites for establishing
connectivity between branches will help banks
to reach rural and hilly areas in a better way,
and offer better facilities, particularly in relation
to electronic funds transfers.
24.
25. TECHNOLOGICAL DEVELOPMENT
โข With the advancement of technology and the
birth of competition, banks are in the race of
becoming the best in the country.
โข The advancement in the technology has helped
the banks to reduce the workload.
โข There are so many activities, which are taken
over by machines. Employees are no more
loaded with paper work.
26.
27. PHONE BANKING
โข Pick up the phone to access a host of Bank
services, day or night.
โข Phone and mobile banking are a fairly recent
phenomenon for the Indian banking industry.
โข Phone banking channels function through an
Interactive Voice Response System (IVRS) or
tele-banking executives of the banks.
28.
29.
30.
31.
32.
33. Online banking
โข Online banking (or Internet banking) is a term
used for performing transactions, payments etc.
over the Internet through a bank, credit union or
building society's secure website.
โข This allows customers to do their banking
outside of bank hours and from anywhere
where Internet access is available.
34. Features of online banking
โข Online banking usually offers such features as:
โข Bank statements.
โข Electronic bill payment
โข Funds transfer.
โข Loan applications and transactions, such as
repayments
โข Account aggregation
35.
36. REAL TIME GROSS SETTLEMENT
โข RTGS is a large value funds transfer system .
โข Transfer of money takes place from one bank to
another on a โreal timeโ and on โgross basisโ.
โข Money can be transferred only to those
branches in which RTGS is enable
๏ถBenefits of RTGS
โข full value of individual
โข Real time immediate value transfer
37. Features
โข 1. No bundling up of transactions,
โข 2. No netting
โข 3. No deferral of final settlement
40. Bancassurance
โข Bancassurance is the term used to describe the
sale of insurance products in a bank.
โข The word is a combination of "banque or bank"
and "assurance" signifying that both banking and
insurance is provided by the same corporate entity.
โข Banks gives you peace of mind with
Bancassurance.
โข One receive coverage and save money at the
same time. You can choose the right option which
benefits you the most.
41.
42.
43. Core banking solutions(CBS)
โข Core banking (stand for "centralized online
real-time exchange") is a banking services
provided by a group of networked bank
branches
โข Here customers may access their bank
account and perform basic transactions from
any of the member branch offices.
โข Larger businesses are managed via
the Corporate banking division of the institution.
44.
45. Electronic fund transfer (EFT)
โข Electronic Funds Transfer (EFT) is a system of
transferring money from one bank account directly
to another without any paper money changing
hands.
โข It is used for both credit transfers, such as payroll
payments, and for debit transfers, such as
mortgage payments.
โข The growing popularity of EFT for online bill
payment is paving the way for a paperless universe
where checks, stamps, envelopes, and paper bills
are obsolete.
48. Electronic clearing system
โข ECS is an electronic mode of funds transfer from
one bank account to another.
โข It can be used by institutions for making payments
such as distribution of dividend interest, salary,
pension, among others.
โข It can also be used to pay bills and other charges
such as telephone, electricity, water.
โข For making equated monthly installments
payments on loans as well as SIP investments.
ECS can be used for both credit and debit
purposes.
49.
50. Electronic data interchange (EDI)
It facilitates computer to-computer exchange
of electronic documents (such as purchase
orders, advance shipment notices and without
human intervention or human readable (paper
or electronic documents)..
51.
52.
53. International banking
โข Indian banks have extended their activities beyond
the national boundaries.
โข The extension may take place in the form of
borrowings as well as lending and it may take place
through official or private or commercial channel.
โข In the process of internationalization, the domestic
financial institutions participate in foreign financial
markets and the foreign institutions participate in
domestic market to a significant extent.
54. International lending
โข Syndicated loans
โข Large loans that enable borrowers to obtain
large amounts of funds and lenders can
diversify their credit risk. Lead bank can earn
fee income for management services.
โข Letters of credit
โข Import letters of credit are issued by a bank in
favor of a firm in most cases. An export letter of
credit is issued by a foreign bank to a firm in the
U.S.
55. Letters of credit
โข The letter of credit is a document from a bank
that says it will pay the exporter when the
conditions in the letter are met.
โข In effect, the bankโs credit is substituted for the
importer.
โข The issuing bank pays the seller through the
advising (paying) bank.
โข The importer pays the issuing bank a fee for its
services.
56.
57. Foreign exchange markets
โข Interbank market of money center banks and
major foreign banks.
โข Foreign exchange brokers facilitate currency
trading.
โข Credit risk associated with the counterparty
(bank or broker) failing to meet its obligations.
58. CRMs and any branch banking
โข Customer relationship management (CRM) is a
system for managing a companyโs interactions with
current and future customers.
โข It often involves using technology to organize,
automate and synchronize sales, marketing,
customer service and technical.
โข Any branch banking
โข All the branches are inter-connected and are
capable of providing online, real-time transactions
to its customers.
โข Customers can Deposit/Withdraw freely without
any tariff charge i.e. free ABBS facility.
59. Risk management
โข The financial sector in various economies like
that of India are undergoing a monumental
change factoring into account world events
such as the ongoing Banking Crisis across the
globe.
โข Risk management in Indian banks is a
relatively newer practice, but has already
shown to increase efficiency in governing of
these banks as such procedures tend to
increase the corporate governance of a
financial institution
60. POINT OF SALE TERMINAL
โข A type of electronic-transaction terminal.
โข Point-of-sale terminals typically include a
computer, a cash register and other equipment
or software used to sell goods or services.
โข They also transmit sales data to be posted to
customer accounts.
โข It is an electronic payment system involving
electronic fund transfers based on the use of
payment cards, such as debit or credit, at
payment terminals located at point of sale.