Group Members:

Raveena Devendran -- 07

Akshada Guian -- 10

Kapil Kateja – 17

-V.E.S. College, Mumbai

INTRODUCTION

A bank is a financial institution and A financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets.

Banking business Receiving money Paying and collecting of cheques drawn by or paid in by customers The making of advances to customers

Regulatory Framework

The bank will be governed by the provisions of the Banking Regulation Act, 1949. Reserve Bank of India Act, 1934. Foreign Exchange Management Act, 1999. Payment and Settlement Systems Act, 2007.

6 Important reasons to

open an account

1. Safe custody of money2. Making payments3. Collection of money4. Advances and loans5. Helps in transacting smoothly6. Safe deposit locker facility

Saving Account

•Salaried persons or fixed regular income.

•Encourage people to save money

•Collect their savings.

•No restrictions

•Interest rate

Current Account

•Opened by businessmen

•Higher number of regular transactions

•Demand Deposit Account

•Withdrawn at any time

• Overdaft facilty

Facilities given by Banks

Internet Banking

Mobile Banking

ATM Services

Debit Cards

Credit Cards

Fixed Deposits Account

• Fixed period of time

• Repayable only after a specific period is over.

• Can not be withdrawn before the expiry of period

• Interest rate

Recurring Deposits account

• Opened for a purpose to be served at a future date

• Who want to save regularly for a certain period of time and

• Interest rate

Features and Services

Provided by Banks

• ECS• Insurance• Foreign Exchange • Demat & Trading Account• Mutual Funds• Third Party Fund Transfer

• Loans

WITHIN BANK : E.g. : HDFC HDFC

OUTSIDE BANK : R.T.G.S. N.E.F.T.

Loans

• Personal Loan – (Unsecured loan)

• Business loan – (Unsecured loan)

• Two Wheeler Loan – (Secured loan)

• Auto Loan (4 Wheeler) – (Secured loan)

• Commercial Vehicle Loan – (Secured loan)

• Home Loan – (Secured loan)

• Loans Against Gold

• Loans Against Property