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Banking in India originated in the last decades of the 18th century
The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806
In 1948, the Reserve Bank of India, India's central banking authority, was nationalized,
In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India." The Banking Regulation Act also provided that no new bank or branch of an existing bank could be opened without a license from the RBI, and no two banks could have common directors.
Currently, India has lot of commercial bankspublic sector banksprivate banks-foreign banks.
Non B
anking F
inancial Institution
Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharastra Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank
Bank of RajasthanCatholic Syrian BankDhanalakshmi BankFederal BankHDFC BankICICI BankING Vysya BankJammu & Kashmir BankKarnataka BankKarur Vysya BankKotak Mahindra BankSBI Commercial and International BankUTI BankYES Bank
ABN-AMRO Bank
Abu Dhabi Commercial Bank Ltd.
American Express Bank Ltd
BNP Paribas
Citi bank
DBS Bank Ltd
Deutsche Bank
HSBC Ltd
Standard Chartered Bank
Barclays Bank
Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Vijaya Bank IDBI Bank
Dena Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank State Bank of India & Associates Syndicate Bank UCO Bank Union Bank of India United Bank of India
Banking services Keeping money safe & also allowing withdrawals when needed Issuance of checkbooks Provide personal loans, commercial loans, and mortgage loans Issuance of credit cards and debit cards Allow financial transactions ATM Services Provide overdraft & DD. Notary service for financial and other documents
Foreign exchange services Currency Exchange - where clients can purchase and sell foreign currency banknotes. Wire transfer - where clients can send funds to international banks abroad. Foreign Currency Banking - banking transactions are done in foreign currency.
Insurance brokers & Stock Brokers
Core Banking is a general term used to describe the services provided by a group of networked bank branches.
Bank Customers may access their funds and other simple transactions from any of the member branch offices at REAL TIME.
Internet banking (e banking) is the latest trend in banking products & services
· Improve customer access· Facilitate the offering of more services· Increase customer loyalty· Attract new customers· Provide services offered by competitors· Reduce customer attrition
Inter Bank Transfer
Third party transfer
Online standing instructions for periodical transfer
Credit PPF accounts across branches
Request for Issue of Demand Draft
Request for opening of new accounts
Request for closure of Loan Accounts
Request for Issue of Cheque Book
Using Internet banking services,Using Internet banking services, Go online: Go online:
Utility bill payments
Online Ticket Booking for travel
SBILIFE, LIC and other insurance premia payments
SBI and other Mutual funds Investments
SBI and other Credit Card dues payments
Tax Payment – Income, Service, State Govt
Customs Duty Payment
Online Share Trading (eZ-trade@SBI)
Online Application for IPO
Fee Payment to select educational institutions including IITs and NITs
Using Internet banking services,Using Internet banking services, Go online: Go online:
Other salient value-added features available are:
Account InformationMini-statements and checking of account history Alerts on account activity Monitoring of term deposits Access to loan statements Mutual funds / equity statements Insurance policy management Status on cheque, stop payment on cheque Ordering check books Balance checking in the account Recent transactions Blocking of cards Payments, Deposits, Withdrawals, and TransfersDomestic and international fund transfers Mobile recharging Bill payment processing Peer to Peer payments
Download Application- (StateBankFreedom.jar)RegisterCheck SMS to get User ID ,MPIN & TidChange MPIN before using services
To Register TxnATM Services M Banking
http://www.statebankofindia.com/user.htm
Funds transfer (within and outside the bank )
Enquiry services (Balance enquiry/ Mini statement)
cheque book request
Demat Enquiry Service Bill Payment (Credit cards, Insurance premium payments)
Donations, Subscriptions M Commerce (Mobile Top Up, Top up of Tata Sky, Recharge of Other DTHs, SBI life insurance premium) Stop payment instruction on a cheque De-activating a credit or debit card
Foreign currency exchange rates enquiry
Fixed deposit interest rates enquiry
Electronic bill payment
Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands.
SBI e-PAY - A simple and convenient service for receiving and paying your bills online
No more late payments No more queues
OnlinePay: Using SBI e-PAY you can 'see and pay' your various bills online, directly from your SBI Account. You can pay telephone, electricity, insurance, credit card and other bills - from the comfort of your home or office, 24 hours a day, 365 days a year!
AutoPay: You can also set up AutoPay instructions with an upper limit to ensure that your bills are paid automatically whenever they are due. The upper limit ensures that only bills within the specified limit are paid automatically, thereby providing you complete control over these payments.
The e-PAY service is available in various cities across the country and you can now make payments to several billers in your region.
(Electronic Clearing Service)
Point of sale (POS) or checkout is the location where a transaction occurs. A "checkout" refers to a POS terminal or more generally to the hardware and software used for checkouts, the equivalent of an electronic cash register.
SBI -3D Secure Service
The main advantages of shopping online are convenience and cost savings,
while the main disadvantage is that the item is not immediately available, and you cannot inspect it personally before you make your purchase.
https://sbi.electracard.com/sbi/enrollment/enroll_welcome.jsp
Savings Account (SBCurrent Account(CC Fixed Deposits account Recurring Deposits account DEMAT Account NRE A/c NRO A/C FCNR A/c CA a/c - Current account Salary Account Recurring deposit account Overdue account - OD a/c Proprietorship account Partnership account Firm account Company account
What are different types of bank accounts?
