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Other type of lending and transaction

TYPES OF BANKING

Central bank

Commercial bank

Industrial bank

Agricultural bank

Foreign Exchange bank

Indigenous bank

Rural bank

Co-operative bank

ANKING CHANNEL

Branch

ATM

Mail

Telephone

Online

Mobile

video

BANKING SECTOR REFORMS

In 1991, the RBI had proposed to from the committee chaired by M. Narasimham, former RBI Governor in order to review the Financial System viz. aspects relating to the Structure, Organisations and Functioning of the financial system. TheNarasimham Committee report, submitted to the finance minister, ManmohanSingh, on the banking sector reforms highlighted the weaknesses in the Indian banking system and suggested reform measures based on the Basle norms..The main recommendations of the Committee were.

Reduction of Statutory Liquidity Ratio (SLR) to 25 per cent over a period of five years.

Progressive reduction in Cash Reserve Ratio (CRR). Phasing out of directed credit programmes and redefinition of the priority sector

Deregulation of interest rates so as to reflect emerging market conditions

Imparting transparency to bank balance sheets and making more disclosures

Setting up of special rule to speed up the process of recovery of loan.

Restructuring of the banking system, national bank to international bank some and nationalised some other bank.

Abolition of branch licensing

Liberalising the policy with regard to allowing foreign banks to open offices in India

Rationalisation of foreign operations of Indian banks

Giving freedom to individual banks to recruit officers

Inspection by supervisory authorities based essentially on the internal audit and inspection reports

Ending duality of control over banking system by Banking Division and RBI

PEST ANALYSIS

TECHNOLOGICAL ENVIROMENT

Technology environment plays a very important role in bank's internal control.The latest developments in technology like computer and telecommunication have promoted the bankers to change the concept of branch banking to anywhere banking. The use of ATM and Internet banking has allowed ‘anytime, anywhere banking' facilities. Automatic voice recorders now answer simple queries, currency accounting machines makes the job easier and self-service counters are now encouraged. Credit card facility has encouraged an era of cashless society. Today MasterCard and Visa card are the two most popular cards used world over. The banks have now started issuing smartcards or debit cards to be used for making payments. These are also called as electronic purse. Some of the banks have also started home banking through telecommunication facilities and computer technology by using terminals installed at customers home and they can make the balance inquiry, get the statement of accounts, give instructions for fund transfers, etc. Through ECS we can receive the dividends and interest directly to our account avoiding the delay or chance of loosing the post. Today banks are also using SMS and Internet as major to