Banking process in India

[Keval-B]

I am a graduate fresher and deciding to go for the banking job after completing the MBA, I like the banking sector, which is only one of the sectors with the growing process. But for get the job in banking field, I have to gain a lot of information regarding the banking processes and the other processes which are related with the bank. I am going through some of the banking process book, which I collect from the college library. Also like to share some information here with someone, so will be pleased to everyone who will give any information about the banking processes. What is the major parts of Indian banking system?

[Milton.J]

The commercial bank in India are playing a major participation in Indian financial system, to know and understand the basic information sand the principles about this there are so many financial institutions are present in India, those are provide the information regarding the leading terms those are used in the financial process, also the investment, process of specialized financial and the development of banks in state level. So in current trend the main role of a bank is to save you income by choosing any one from different process. Banking service provide different offers and techniques which is for attracting customers to get so much growth in the investment process.

[newtech]

One of the most working processes which is applicable in the current banking process, the process is Banking Business Process Outsourcing or known as Banking BPO. This is the most prestigious process in bank, by the BPO service, the bank can easily communicate with the customer and this is most efficient way to attract any customer for the growth of the company. By this service they can sell the different insurance schemes and the account schemes. Also this is also very much useful for the customer, he/she can easily track the account status by simply making a call to the BPO executive and also he/she can able to make any payment via the phone call. This is the process which is applying by all the banking services and not only that, this process is also useful within the other fields of the current market trend. This is the easy commutation with the organization manager or the executive.

[Alexisus]

Bank is acting as the agents, by conducting some processes like the checking or current accounts for customers, cheque paying facility for the bank downer, and collecting the cheques of the current account holders. The other modes of the payments are like the telegraphic transfer, and ATM service. Banks borrow money for accepting payment deposited on current account, also bank lend money for the advances to customers those are with the current account. It offers loan with the installment facility. And lend money for investment I different fields, but these offer after the completion of some of the documentation process like the agreement and the bond for payment.

[TEcH GuRuJI]

One of the most common and prestigious process of banking is “Savings accounts”, which is maintained by the financial processes, and where the bank will pay the interest for the stored money. This is comes with the facility of ATM card and with the cheque. To open a saving in any bank, which is required to deposit some amount of money, which is between 500-10,000. After deposing the amount in your account by default the ATM card and the cheque facility is applied for you. I think by this account facility, a bank will gain maximum number of revenue in market. According to the low the saving deposit or saving account is should be fulfill the requirement of Sec. 204.2(d)(1), by which the depositor is allowed to make up six transfers or withdrawals per month. And the bank should provide the six ways to obtain the three transactions, and these are by check, draft, debit card or in the relevant order by some third party. Though which is mostly used in United States. Theses information is according to my knowledge, and i hope this information is helps you to gain the knowledge.