Unit 1 to 5 blp notes

Definition:- Banking has been defined as “Accepting for the

purpose of lending & investment, of deposit of money from the public, repayable on demand order or otherwise and withdraw able by cheque, draft or otherwise.”

Meaning:- Banking means transacting business with a bank;

depositing or withdrawing funds or requesting a loan etc.

Unit 1

• The development of banking is evaluation in nature. The origin of the word bank can be traced back to the German word ‘Banck’ and Italian word ‘Banco’ which means heap of money.

Banking is an old concept in India. It was present in ancient Vedic times. There were bankers known as ‘Sheth’, ‘Shah’, ‘Shroff’ or ‘Chettiar’ who were performing the function of bank.

HISTORY

The main functions of banks are accepting deposit and lending loans:

A – accepting deposits

1. Fixed deposits:- These deposits mature after a considerable long period like 1 year or more than that the rate of interest is fixed the amount deposited cannot be withdrawn before maturity date.

2. Current A/C deposit:- These are mainly maintain by business community to facilitate frequent transaction with big amounts. Generally no rate of interest or very low rate of interest is paid on this account.

PRIMARY FUNCTIONS

3. Savings bank A/C:- It is kind of demand deposits which is generally kept by the people for the sake of safety. These facility is given for small saver and normally a small rate of interest is paid.

4. Recurring deposit A/C:- In case of recurring deposit the fixed amount is deposited in a bank every month for a fixed period of time.

B-Lending loans

1. Call loans:- These loan are called back at any time. Normally, this loans are taken by bill brokers or stock brokers.

2. Short term loans:- These are sanctioned for a period up to 1 year.

3.Medium term loans:- These are sanctioned for the period varying between 1 and 5 years.

These loan are sanctioned for a period of more than 5 years it includes:

1. Overdraft:- The bank grants overdraft facility to its reliable and respectable depositors. It enables companies, firms and businessmen to withdraw amount over and above their actual balance in their current account.

2. Cash credit: Under this facility, the bank allows the borrower to withdraw cash against certain security.

3. Bills of Exchange:- The bank provide funds to their customers by purchasing or discounting bills of exchange. The bank charges commission up to the maturity period of bills.

Long term loans:-

Apart from the main functions, the banks also provide financial services to the corporate sector and business and society. They are as follows:

1.Merchant Banking:- Merchant banking is an organization which underwrites securities for companies, advises in various activities. No person is allowed to carry out any activity as a Merchant Banker unless holds a certificate granted by SEBI. Thus, merchant banks are financial institutions which provide specialized services including acceptance of bills of exchange, corporate finance, portfolio management and other services.

SECONDARY FUNCTIONS

2. Leasing:- Banks have started funding the fixed assets through leasing. It refers to the renting out of immovable property by the bank to the businessmen on a specified rent for a specific period on terms which may be mutually agreed upon. A written agreement is made in this respect.

3.Mutual funds:- The main function of mutual fund is to mobilize the savings of the general public and invest them in stock market and money market.

4. Venture Capital (VC):-Venture Capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as biotechnology, IT, software, etc.

5. ATM:- An ATM is also known as cash point. The banks nowadays provide ATM facilities. The customers can withdraw money easily and quickly 24 hours a day.

6. Telebanking:- Telebanking is a throwback to the days when people would call into a central number at their bank/financial institution in order to get balance, check status and other account-related information.Most financial organizations offer telebanking services today; however, the public representation is known as telephone-based customer service or just customer service.

7. Credit cards:- Credit cards allow a person to buy goods and services up to a certain limit without immediate payment. The amount is paid to the shops, hotel, etc. by the commercial banks.

8. Locker Service:- Under this service, lockers are provided to the public in various sizes on payment of fixed rent. Customers can deposit their valuables, documents, jewellery, securities, etc. in these lockers.

9. Underwriting:- This facility is provided to the joint stock companies and to the government. The banks guarantee the purchase of certain proportion of shares, if not sold in the market.

unit – 2 Banker and Customer

Relationship

Banker and Customer Relationship• The relationship between the banker and

customer is very important. Both serve the society to grow and the economy to expand.

• Before we discuss the relationship between the banker and the customer, it seems necessary that the two terms banker and customer are made clear,

What is the meaning of Banker?• A banker is a dealer in capital or more properly a dealer in

money. • He is an intermediate party between the borrower and the

lender. He borrows from one party and lends to another.• Banking has been defined as “Accepting for the purpose of

lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawals by check, draft, order or otherwise.

What is the meaning of a Customer?

• A customer is a person who maintains an account with the bank, without taking into consideration the duration and frequency of operation of his account.

• To constitute a customer of the bank.– One should have an account with the bank.– One should deal with the bank in its nature of

regular banking business.– One should deal with the bank without

consideration of the duration and frequency of operation of his account.

Banker and Customer Relationship• The relationship between the banker and

customer is very important. It is generally studied under the following two heads.– General Relationship– Special Relationship

General Relationship

• Debtor and Creditor:• The true relationship between banker and

customer is primarily of a debtor and creditor.• When a customer deposits money with a

bank, the bank then is the debtor and the customer is the creditor.

• The customer expects from the bank that– His money will be kept safe by the bank– It will be returned on demand within business hours– The money will be intact and safe and will give some

thing by the way of return (interest). – The position is reversed if the customer is advanced

loan then the banker becomes creditors and the customer is debtors.

• Principal and agent:• The special relationship between the customer and the banker

is that of principal and agent.• The customer (principal) deposits checks, drafts, dividends for

collection with the bank.• He also gives written instructions to the bank to purchase

securities, pay insurance premium, installments of loans etc on his behalf.

• When the bank performs such agency services, he becomes an agent of his customer.

Bailer and Bailment relationship

• A bailment is the delivery of goods in trust. A bank may accept the valuables of his customer such as jewellary, documents, securities for safe custody.

• In such a case the customer is the Bailer and the bank is bailee.

• The bank (bailee) charges a very small amount as service charges for safe custody of the valuables from his customer (bailer).

• This relationship between the bank and the customer as bailee and bailer started from the days of earlier goldsmiths.

Pawner and Pawnee:

• When a customer Pledge goods and documents as security for an advance he then become Pawner (Pledger) and the bank becomes the pawnee (pledgee).

• The pledged goods are to be returned intact to the pawner after the debt is repaid by him.

Mortgager and Mortgagee relationship:

• Mortgage is the transfer of an interest in specific immovable property for the purpose of securing the payment of money advanced or to be advanced by way of loan.

• When a customer pledges a specific immovable property with the bank as security for advance, the customer becomes mortgager and banker is the mortagee.

Bank as a trustee

• The bank act as a trustee for his customer in those cases where he accept securities and other valuables for safe custody.

• In such cases the customer continues to be the owner of the valuables deposited with the bank.

Executer, attorney, guarantor

• The bank also acts as executor, attorney and guarantor for his customer.

RIGHTS AND DUTIES OF THE CUSTOMER TOWARDS THE

BANKER

• The main rights and duties of a customer towards the banker in brief are as under:

• Rights of a customer:– A customer who has deposited money can draw

check on his account up to the extent of his credit balance or according to overdrawing limit sanctioned by the bank.

– A customer has the right to receive statement of accounts from the bank.

– A customer has the right to sue the bank for compensation of a wrongful dishonor of his check.

– A customer has a right to sue and demand compensation if the bank fails to maintain the secrecy of his account.

Duties of a customer– It is the duty of the customer to present checks and other

negotiable instruments during the business hour of the bank.

– The instruments of credit should be presented by the customer with in due time from their dates of issue.

– A customer must keep the check books issued by the bank in safe custody. In case of theft or loss, it is the duty of the customer to report the matter immediately to the bank.

– A customer should fill the check with utmost care.– If a customer find any forgery in the amounts of

the check issued by him. It should then immediately be reported to the bank.

RIGHTS AND DUTIES OF THE BANKER TOWARDS THE

CUSTOMER

• Duties or obligations of a banker towards the customer

To honor a customer’s check:The banker is to honor the check of the

customers provided the check are:– Properly drawn– The customer has balance to his credit– The loan contract has been signed– There is no legal bar or restriction attaching to the

customer’s funds.

Standing orders

• It is the duty of the bank to abide by the standing orders of the customers in making periodical payments on his behalf such as club, library, insurance premium etc.

Secrecy of the customer’s account• The bank owes a contractual duty not to

disclose the customer’s financial position without his consent.

• However the obligation of secrecy is not considered essential on the following occasions.

– When a banker is required to give evidence in the court.

– When there is national emergency and disclosure is essential in the public interest.

– When there are clear proofs of treason to the state– When a consent is given by the customer to provide

information for the preparation of balance sheet.

Garnishee order (order of the court)

• It is the duty of the banker to abide by the order of the court (garnishee order) and attached the funds of the customer to the creditors who has obtained the order in his favor.

Rights of a banker–Right to set off:– It is a right of the banker to adjust his outstanding

loans in the name of the customer from his credit balance of any of the accounts he is maintaining with the bank.

Right to charge interest, commission etc

– It is the right of the banker to charge interest commission etc according to the rates for the services the banker has rendered to the customer as agent, trustee etc.

• A banker has the right to retain the property belonging to the customer until the debt due from him has been paid.

Right to lien

unit -3. cheques - Definition

• A cheque is a bill of exchange drawn upon a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form.

• All cheques are bills of exchange but all bills of exchange are not cheques

Modes of crossing a cheque• General crossing.• Special crossing.• Restrictive crossing.• Not negotiable crossing.

General crossing• When a cheque bears across its face an

addition of (i) the words “And company” or (ii) any abbreviation between two parallel traverse lines simply either with or without the word negotiable or (iii) two parallel traverse lines simply either with or without the words not negotiable that addition shall be deemed a crossing, it is a general crossing.

General crossing• The two traverse parallel lines across the face

of the cheque are essential for general crossing. Effect of such crossing is that the holder or payee cannot get the payment over the counter of the bank but through bank only.

General crossing

Special crossing • When a cheque bears across its face an addition

of name of a bank either with or without the words ‘ not negotiable’, the cheque is deemed to be crossed specially. A cheque cannot be crossed more than once specially. A special crossing makes the cheque more safer than a general crossing because the payee or holder cannot receive payment except through the banker named in the cheque.

Special crossing

Restrictive crossing • It includes words like A/C payee, Account

Payee only, A/c Ashok only etc between traverse parallel lines. The effect of the restrictive crossing is that it directs the collecting banker that the proceeds of the cheques are to be credited only to the account of the payee named in the cheque or between the traverse lines.

Restrictive crossing

Not negotiable crossing • A cheque may be crossed with the words ‘not

negotiable’ on it. The effect of the words ‘ not negotiable’ on a crossed cheque is that cheque cannot be negotiable.

Difference between bill of exchange and cheque

• A bill of exchange may be drawn on any person including a banker. But a cheque is always drawn on a bank or banker.

• A bill must be accepted before the drawee can be called upon to make payment upon it. A cheque does not require acceptance.

Difference between bill of exchange and cheque

• A bill is entitled to 3 days of grace. A cheque is not entitled to any days of grace.

• A cheque may be crossed. But there is no such provision for a bill of exchange.

• A bill requires stamp except in certain cases. A cheque requires no stamp.

UNIT 4 - DISHONOUR OF CHEQUE – DEFINITION

• The Negotiable Instruments Act, 1881 makes the dishonour of cheques a criminal offence.

• Section 138 of NIA provides that the dishonour of the cheques for the reasons:

a. “insufficiency of funds” andb. Signature on the cheque does not match that in the

bank records.

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KINDS OF DISHONOUR OF CHEQUE

1. Dishonour by non-acceptance.

2. Dishonour by non-payment is said to be dishonoured.

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• S.91[14] of the Act speaks of dishonour by non-acceptance. Presentment for acceptance is required only in the case of a bill of exchange. Usually acceptance and payment go together and this usually happens in case an instrument is payable after sight, thus often it is difficult to distinguish the two because dishonour by non-payment is usually dishonour by non-acceptance, and thus it is only this bill of exchange which can be dishonoured by non-acceptance and not a cheque as in the case of a cheque no acceptance is required to be taken to the banker and cheques are mainly instruments payable at sight.

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• The second kind of dishonour, is that of dishonour by non-payment. A negotiable instrument is said to be dishonoured by non-payment when the drawee of a cheque makes default in payment upon being duly required to pay the same.

• Payment countermanded: When the drawer of the cheques issues

instructions to the bank not to make any payment of a particular cheque issued by him, the bank then stands revoked from making payment on that cheque, this is known as countermand of cheques by the drawer.

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Insufficiency of funds: When there are no funds to meet the cheque or the

account of the drawer does not hold sufficient funds to meet the whole credit amount of the cheque, the banker is then justified in refusing the payment of such a cheque. However where the account has sufficient funds, the banker is under an obligation to its customer of honouring the cheque presented to it.

Non-applicability of funds: Under S.31 of the Act it is the banker’s duty to honour

the cheque when funds which are lying in the account of the drawer are applicable for the purpose. Thus when the funds in the account are lying for other purposes, the will necessarily dishonour the cheque presented before it for payment.

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EFFECTS OF DISHONOUR OF CHEQUE1. Taking of legal action. The payee/holder can take action against

the drawer of such a bill may take action on the exact time of dishonouring of the bill. Thus the holder need not wait for the bill to mature and then to take action for dishonouring the same.

2. When a cheque is said to be dishonoured it loses its basic characteristic of negotiability with immediate effect.

3. On dishonouring of a cheque, nothing prevents the holder thereof to present it again particularly on being asked by the drawer of the cheque.

4. Mere dishonouring of cheques does not give rise to a cause of action in favour of the complainant but it accrues only after the issue of demand notice and failure of the drawer to make the payment.

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WHEN DISHONOUR OF A CHEQUE IS AN OFFENCE

• Returning the cheque unpaid by the drawee bank,

• Giving notice in writing to the drawer of the cheque demanding payment of the cheque amount,

• Failure of the drawer to make payment within 15 days of the receipt of the notice.

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LIABILITY ON DISHONOUR OF CHEQUE

• Necessary Ingredients for Liability• Civil Liability• Criminal Liability

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Necessary Ingredients for Liability:1. The cheque must have been issued in favour of the

payee.2. The cheque so issued must have been issued in

discharge, either in whole or in part, of a legally enforceable debt or liability.

3. The cheque should have been presented for encashment within six months of the date it bears or within its specific validity period which is earlier;

4. The cheque should have been returned by the bank unpaid, because the amount of money standing to the credit of the account is insufficient or it exceeds the amount arranged.

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Contd…

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Civil liability:

• Civil Liability is also arises when the cheque is presented for the payment to the bank gets dishonoured.

• Section 138 also provides for civil liability which provides for fine twice the amount of dishonoured cheque.

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Criminal Liability:

• A criminal liability is provided under section 138 of the Act, which provides imprisonment for two years or with fine which may extend to twice the amount of the cheque, or with both.

• In case of dishonour of cheque the drawer of it may be prosecuted under sections 417 and 420 of the Indian Penal Code, 1960 (IPC). However, it all depends on the circumstances of each case. Every dishonour of a cheque is not cheating.

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Promissory Note General Definition• A promissory note is a legal instrument (more

particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. If the promissory note is unconditional and readily salable, it is called a negotiable instrument.

Promissory Note• Section 4 of Negotiable instruments Act

defines Promissory-Note as under: “Promissory-note as an instrument in

writing (not being a Bank note or a currency note) containing an unconditional undertaking signed by the maker, to pay on demand or money only, to, or to the order of a certain person, or to the bearer of the instrument.

Promissory Note Essentials of Promissory Note(1)It must be an unconditional written promise.(2) It must be signed by the maker called

“promiser”.(3) It must contain a promise to pay a certain sum

in money only.(4) It may be made by two or more persons, and

they may be liable thereon jointly or severally.

Promissory Note(5) The amount promised in the promissory note

must be payable on demand or at a fixed or determinable future time.

Bill of Exchange General Definition• An unconditional order issued by

a person or business which directs the recipient to pay a fixed sum of money to a third party at a future date.

• A bill of exchange must be in writing and signed and dated.

Bill of Exchange• Section 5 of the negotiable instruments Act,

1881, defines a bill of exchange as “An instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay on demand or at a fixed or determinable future time, a certain sum of money only to, or to the person or to the bearer of the instrument”.

Bill of Exchange Essentials of Bill of Exchange(1) A bill o exchange must be in writing & signed by

the drawer.(2) It must contain unconditional order or direction.(3) The direction should be to pay a certain sum in

money only.(4) The drawee should be directed to pay on

demand or at a fixed or determinable future time.

Bill of Exchange Essentials of Bill of Exchange (5) The amount should be payable to or to the

order of a certain person or the bearer of the instrument.

Bill of Exchange Drawer is the maker of the bill of exchange. A

seller/creditor who is entitled to receive money from the debtor can draw a bill of exchange upon the buyer/debtor. The drawer after writing the bill of exchange has to sign it as maker of the bill.

Bill of Exchange Drawee is the person upon whom the bill of exchange is

drawn. Drawee is purchaser of the goods upon whom the bill of exchange is drawn. The dawee has to write the word “accepted” if he accepts to make the payment given in the bill on the due date and has to put his signatures on it. After the drawee of a bill has signed his assent on the face of the bill, he is called the acceptor and this process is called acceptance.

Bill of Exchange Payee is the person to whom the payment is

made. The drawer of the bill himself will be the payee if he keeps the bill with him till the date of its payment.

Bill of Exchange

Bill of Exchange

Payee

Drawee Drawer

Bill of Exchange Types of BillsBills may be the following types:-(1) Sent bills or bill for collection:-when bills are

handed over to a banker by his customer in order that they may be collected when due & the proceeds credited to the customer’s A/C they are called “bills for collection.

Bill of Exchange (2) Bills Negotiated or Bills Discounted:-Are

those bills for which the banker has given value at once, without waiting for the proceeds after collection.

Bill of Exchange(3) Bills Retired:-When a bill withdraw from

circulation or taken up before it is due, it is said to be “Retired”. Sometimes the acceptor of a bill of exchange desires to meet the bill before its maturity if he has sufficient funds. The holder generally allows the acceptor a rebate or discount for the unexpired period of the bill.

Bill of Exchange Bills in Set:- Section 132 of the negotiable

instruments Act, 1881, lays down that when bills of exchange are drawn in two or more than two parts, they are called “bill in set” & each part is on a separate piece of paper; but all parts are worded exactly in the same language except that the parts are numerically “the 1st of exchange”, “2nd of exchange.

UNIT 5 -

RECENT TRENDS

IN INDIAN BANKING INDUSTRY

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E-COMMERCE

• E- commerce refers to any financial business that is done online

• E-Commerce is the paperless exchange of business information using data interchange, e-mail, fax transmission, and electronic funds transfer.

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What is E-banking

• Online banking or Internet banking.

• In simple terms it does not involve any physical exchange of money, but it’s all done electronically, from one account to another, using the Internet.

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• From a personal computer, you can access your bank account information, and perform many banking functions, like transferring money, making a loan payment

Service rendered by banks

• Banks offer the following services to account holders at their specified branches

 • multi-city / Payable at Par (PAP) cheque facility

• anywhere banking facility

• trade services89

credit card

Debit/ATM card

mobile banking and Real Time Gross Settlement (RTGS)

Locker facilities

phone banking facility

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TYPES OF E-BANKING • Online Banking

• Phone Banking

• Electronic Payment Services - E Cheques

• Real Time Gross Settlement (RTGS)91

• Electronic Funds Transfer (EFT)• Electronic Clearing Service (ECS)• Automatic Teller Machine (ATM) • Point of Sale Terminal • Tele Banking • Electronic Data Interchange  

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Advantages of online banking

ConvenienceUbiquityTransaction speedEfficiencyEffectiveness

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CONCLUSION

The bank level changes through online approach.

o "conventional banking to convenience banking" and

o "mass banking to class banking".

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Debit Card• Also known as Bank Card or Check Card.• A debit card is a plastic card that provides an

alternative payment method to cash when making purchases.

• It can be called an electronic cheque, as the funds are withdrawn directly from either the bank account, or from the remaining balance on the card.

Credit Card• Credit cards allow you to 'buy goods now and pay

later' - called 'buying on credit'. • They aren't linked to your bank account.• If you don't repay your bill in full by the date

shown you're charged interest on the whole amount of the bill for that month.

• The rates of interest - indicated by the APR (annual percentage rate) - is very high.

Debit or Credit..?• A debit card uses the money you have and a

credit card uses the money you don't have.• "Debit cards" are linked directly to a checking

account whereas Credit cards are not.• The "debit" networks usually require that a

Personal Identification Number(PIN).• The "credit" networks require that purchases be

made in person and often allow cards to be charged with only a signature, and/or picture ID.

Advantages of Debit Cards• A consumer who is not credit worthy and may

find it difficult or impossible to obtain a credit card can more easily obtain a debit card.

• Use of a debit card is limited to the existing funds in the account to which it is linked.

• A debit card may be used to obtain cash from an ATM or a PIN-based transaction at no extra charge, other than a foreign ATM fee.

Disadvantages• Many banks are now charging non-sufficient

funds fees based upon pre-authorizations.• Many merchants mistakenly believe that

amounts owed can be "taken" from a customer's account after a debit card (or number) has been presented, without agreement as to date, payee name, amount and currency, thus causing penalty fees for overdrafts.

Cntd….• Debit cards offer lower levels of security

protection than credit cards.• Laws protect the consumer from fraud much

less than with a credit card.

SERVICES PROVIDEDACCOUNTING & DEPOSITS

CURRENT ACCCOUNT

SAVINGS ACCOUNT

SALARY ACCOUNT

FIXED DEPOSIT ACCOUNT

DEMAT ACCOUNT

RURAL ACCOUNT

RURAL LOAN

BUSINESS LOAN

EDUCATION LOAN

HOUSING LOAN

VEHICLE LOAN

PERSONALLOAN

LOANS

CARDS

CREDIT CARD DEBIT CARD PREPAID CARD

INSURANCE

LIFEINSURANCE

HEALTHINSURANCE

MOTORINSURANCE

HOMEINSURANCE

SERVICES PROVIDEDACCOUNTING & DEPOSITS

CURRENT ACCCOUNT

SAVINGS ACCOUNT

RECURRING DEPOSITACCOUNT

FIXED ACCOUNT

KAMADHENU ACCOUNT

CANARA PREMIUM CURRENTACCOUNT

PERSONAL BANKING

PERSONAL LOAN

CANARA MORTGAGE LOAN

HOUSING LOAN

EDUCATION LOAN

CANARA PENSION LOAN

VEHICLE LOAN

CANARA BUDGET (BUSINESS)

OTHER SERVICES PROVIDED ARE -

1. INTERNET BANKING

2. TELE- BANKING

3. ACCEPTING DEPOSIT

4. CENTRALISED BANKING SOLUTION

5. ISSUE OF DEBIT & CREDIT CARD

6. ONLINE BILL PAYMENT

7. SAVINGS PLUS SCHAME

8. AGRICULTURAL SCHAME

9. LIFE INSURANCE POLICIES

CREDIT CARD• A CREDIT CARD IS PAYMENT CARD ISSUED TO USERS AS A SYSTEM OF

PAYMENT.

• IT ALLOWS THE CARDHOLDER TO PAY FOR GOODS & SERVICES BASED ON THE HOLDER’S PROMISE TO PAY FOR THEM.

• THE ISSUER OF THE CARD CREATES A REVOLVING ACCOUNT & GRANTS A LINE OF CREDIT TO THE CONSUMER FROM WHICH THE USER CAN BORROW MONEY FOR PAYMENT TO A MERCHANT OR AS A CASH ADVANCE TO THE USER.

DIFFERENT CREDIT CARDS AVAILABLE•CANCARD

•CANARA VISA CLASSIC/MASTERCARD STANDARD GLOBAL CARD

•CANARA GLOBAL GOLD CARD

•CANARA CORPORATE CARD

NO ANNUAL FEE & ENROLMENT FEE TIL 31.08.2013

IT IS ACCEPTED THROUGHOUT THE WORLD

CASH WITHDRAWAL UP TO 50% OF YOUR CARD LIMIT

FREE CREDIT PERIOD FROM 20-50 DAYS

FREE CARD REPLACEMANT IN CASE OF LOSS OF CARD

BONUS LOYALITY POINTS

A DEBIT CARD IS A PLASTIC CARD THAT PROVIDES THE CARDHOLDER ELECTRONIC ACCESS TO HIS BANK ACCOUNT

FACILITES AVAILABLE CAN DRAW MONEY FROM ANY ATM

CAN DRAW MONEY FROM 100-15000 PER DAY

CAN ALSO GENERATE STATEMENT SHOWING PAST TRANSACTIONS

IT IS VERIFIED BY MASTERO & IT CAN BE USED FOR ONLINE & OFFLINE PURCHASES