Banking Awareness 2017 Inward Unproblematic Linguistic Communication – Lesson 10

Dear Gr8 Ambitionists, inward our yesterday’s Banking Awareness 2017 Lesson 9, nosotros bring learnt virtually diverse types of Bank Accounts. In today’s lesson, nosotros shall larn virtually the KYC (Know Your Customer), Basic Banking Services and closed to of import facts you lot should know virtually Banking inward India. Happy Reading 🙂 

Banking Awareness 2017 : Know Your Customer (KYC)

The Reserve Bank of Bharat (RBI) introduced KYC guidelines for all banks inward 2002 & RBI directed all banks to compliant these guidelines yesteryear 31st Dec 2005. KYC agency “Know Your Customer”. It is a physical care for yesteryear which banks obtain information virtually the identity together with address of the customers. This physical care for helps to ensure that banks’ services are non misused. The KYC physical care for is to survive completed yesteryear the banks spell opening accounts together with too periodically update the same. Bank is required to update KYC information of high direct chances client 1 time inward two years, for medium-rick client 1 time inward viii years together with for low-rick client 1 time inward x years.

and closed to of import facts you lot should know virtually Banking inward Bharat Banking Awareness 2017 inward Simple Language - Lesson 10

KYC requirement for opening a banking corporation trouble concern human relationship is : Proof of Identity together with proof of address alongside a recent photograph. 
India’s starting fourth dimension know your client registration agency “KRA (KYC Registration Agency)” was launched at Bombay Stock Exchange (BSE) in 2012 by UK Sinha (SEBI Chairman).
Officially Valid Document (OVD)
  1. The Aadhar Card
  2. Voter’s Identity Card
  3. PAN Card
  4. Driving license
  5. Passport
  6. The NREGA labor carte du jour issued together with duly signed yesteryear an officeholder of the State Government. 
    • Note : PAN Card is Identity Proof solely non an Address proof. 


e-KYC is electronic KYC. e-KYC is possible for those who bring Aadhar numbers. While using e-KYC service, you lot bring to authorize the Unique  Identification Authority of Bharat (UIDAI), yesteryear explicit consent to unloosen identity / address through biometric authentication to banking corporation branches. The UIDAI transfers the information comprising name, age, sex together with photograph of hte individual, electronically to the bank. Information provided through e-KYC physical care for is permitted to survive treated every bit an “Official valid document” nether PML [Prevention of Money Laundering] human activeness together with is a valid physical care for for KYC verification.

Basic Banking Services

  • Services relating to Deposit accounts (Cheque Book Facility)
  • Issue of Passbook / Statement. 
  • ATM card.
  • Debit card
  • Stop payment
  • Balance enquiry
  • Account closure
  • Cheque render (inward, signature verification)
  • Loan accounts (no dues certificate)
  • Remittance facilities similar Demand Draft : Issue / cancellation / revalidation
  • Payment Order : Issue / cancellation / revalidation / duplicate 
  • Telegraphic Transfer : Issue / cancellation / duplicate
  • ECS (Electronic Clearing Services)
  • Collection, Facilities (Collection of local / outstation cheque, banking corporation jibe return-outward)

Banking Awareness : Important Points to Note virtually Banks inward India

  • First Indian Bank to acquire ISO : Canara Bank
  • First governor of RBI : Mr. Osborne Smith
  • First Indian governor of RBI : Mrs. C. D. Deshmukh
  • First Bank to innovate ATM inward Bharat : HSBC
  • First Bank to innovate saving Bank inward Bharat : Presidency Bank inward 1833
  • First Bank to innovate banking corporation jibe organization inward Bharat : Bengal Bank inward 1784
  • First Bank to innovate Internet Banking : ICICI Bank
  • First Bank to innovate Mutual Fund : State Bank of India
  • First Bank to innovate Credit Card inward Bharat : Central Bank of India
  • First Foreign Bank inward Bharat : Comptoire d’escompete de Paris of French Republic inward 1860
  • First Bank setup inward Bharat : Bank of Hindustan inward 1770
  • First Joint Stock Bank of British Bharat : State Bank of India
  • First Joint Stock Bank together with oldest Public Bank inward Bharat : Allahabad Bank
  • First Bank inward Bharat launched talking ATM for differently abled persons : Union Bank of India
  • First Indian Bank to launch its ain payment aggregators – SBI [SBI epay]
  • First national banking corporation that was merged alongside PNB : New Bank of Bharat inward 1993
  • First Indian Bank to opened upwards branch exterior Bharat : Bank of Bharat inward London inward 1946
  • First Indian Bank started alongside Indian Capital / Indigenous Bank of Bharat : Punjab National Bank
  • First Regional Rural Bank (RRB) : Prathama Grameen Bank
  • First RRB was started yesteryear : Syndicate Bank  
  • First Bank to render mobile ATM : ICICI Bank
  • Largest Public Sector Bank of Bharat : SBI
  • Largest Bank alongside the Foreign Offices : SBI
  • Largest Private Sector Bank of Bharat : HDFC
  • First Public Sector Bank to implement CBS (Core Banking Solution) : Syndicate Bank
  • First Bank purely managed yesteryear Indians : Punjab National Bank
  • First Indian commercial banking corporation which wholly owned & managed yesteryear Indians : Central Bank of Bharat (India’s starting fourth dimension genuinely Swadeshi Bank)
  • First Indian Bank listed inward New York Stock Exchange (NYSE) : ICICI Bank
  • First Indian Woman Bank : Bharatiya Mahila Bank

That’s all for at 1 time friends. In our adjacent Banking Awareness lesson, nosotros shall larn virtually the Types of Loans inward India. Happy Reading 🙂

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