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Ch 2: Business Support Services : Section 2.2 Banking (2.2.1:…
Ch 2: Business Support Services :
Section 2.2 Banking
2.2.6:E-Banking
EDI
POS
EFT
ATM
2.2.5: Bank Services
SMS Alerts
Bank Overdraft
National Electronic Funds Transfer (NEFT)
Real Time Gross Settlement (RTGS)
Banker’s Cheque (Pay Order)
Bank Draft
2.2.4: Types of Bank Accounts
Recurring Deposit Account
Fixed Deposit Account
Current Deposit Account
Savings Deposit Account
2.2.3: Functions of Commercial Bank
Secondary
Utility Services
Internet Banking/Phone Banking
ATM card, Credit Cards, Debit Cards etc
Lockers
Issue of Letters of Credit
Issue of Bank Drafts, Pay Order (Banker's Cheque), Traveller's Cheque
Agency Services
Acting as Correspondents
Acting as a trustee/executor
Payment of Insurance, premium, subscriptions etc.
Purchase/sale of securities
Collection of Dividends, Rents etc
Collection and payment of checks
Primary
Lending Money
Accepting Deposits
2.2.2: Types of Banks
Specialized Bank
Co-operative Bank
Central Bank
Development Bank
Commercial Bank
Foreign Banks
Private Sector
Public Sector
2.2.1: Importance of Banking
Development of Credit Policy
Balanced Development of Economy
Benefits to Rural Economy
Mobilization of Savings
Reduces use of Currency
Services to Business
Capital Formation