BUSINESS SERVICES (BANKING)

PowerPoint Presentation

BUSINESS SERVICES

COMPILED BY NITISH BHARDWAJ

BUSINESS SERVICES

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 along with SBI and 5 associate banks of SBI

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 .

ELEMENTS OF BANKING

THERE SHOULD BE ACCEPTANCE OF DEPOSITS

THE DEPOSITS SHOULD BE RECEIVED FROM THE PUBLIC

THE DEPOSIT SHOULD BE REPLAYABLE ON DEMAND OR ON THE EXPIRY OF A TERM OR AFTER A SPECIFIED PERIOD

THE PURPOSE OF DEPOSIT SHOULD BE LENSHING OR INVESTMENT .

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

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

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

FIXED DEPOSITS ACCOUNTS

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

FEATURES OF FIXED DEPOSIT ACCOUNT

IN THIS ACCOUNT AMOUNT IS DEPOSITED WITH BANK FOR A FIXED PERIOD OF TIME

RECURRING DEPOSIT ACCOUNT

THIS ACCOUNT IS OPENED BY THOSE WHO WANT TO SAVE REGULARLY FOR A CERTAIN PERIOD OF TIME AND EARN HIGH RATE OF INTEREST

REGULAR SAVING HABITS

FIXED PERIOD OF 6 MONTHS TO 10 YEARS

HIGH RATE OF INTEREST

LOAN FACILITY

BANK UTILISE FUNDS FOR LOANS

FEATURED OF RECURRING DEPOSIT ACCOUNT

MULTIPLE OPTION DEPOSIT ACCOUNT

FEATURED OF RECURRING DEPOSIT ACCOUNT

MOD ACCOUNT IS A COMBINATION OF SAVING ACCOUNT AND FIXED DEPOSITIT ENABLES THE ACCOUNT HOLDER TO EARN INTEREST ON MONEY

HIGH INTEREST RATE

CHEQUES FACILITY

MODs IS AVAILABE FOR A PERIOD OF 3/6/12/ 24 MONTHS

ALSO KNOW AS AUTO SWEEP FACILITY

AGE OF 21 YEARS AND ABOVE ARE ELIGIBLE TO OPEN MODS

BANKING SERVICES

REAL TIME GRASS SETTLEMENT (RTGS)NATIONAL ELECTRONIC FUND TRANSFER (NEFT)e-BANKINGBANK OVERDRAFT BANKERS CHEQUECASH CREDIT BANK DRAFTBANK 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

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 ORDERFUND TRANSFER SYSTEM

ONLINE TRANSFER

OPERATED BY RBI

REAL TIME SETTLEMENT WITHOUT NETTING

MINIMUM 2 LAKH TRANSFER

FAST TRANSFER (REAL TIME )

SERVICE CHARGE IS CHARGED

1 DAY INVOLVED IN TRANSFER ONLINE FUND TRANSFERSERVICE CHARGE IS CHARGED NET SETTLEMENT BASIS ALL INDIA COVERGAGE NO MIN AND MAX LIMIT OF TRANSFER

STEPS TO DO NEFT / RTGSBANK OVERDRAFT CASH CREDIT

COUSTOMER IS ALLOWED TO OVERDRAW HIS CURRENT ACCOUNT

BANK GIVE THIS FACILITY AFTER TAKING SOME SECURITY

KIND OF TEMPORARY LOAN

BANK CHARGES INTEREST

LOAN GIVEN AGAINST 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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Education

BUSINESS SERVICES (BANKING)