Banking Awareness 2017 Inwards Uncomplicated Linguistic Communication – Lesson 8

Dear Gr8 Ambitionists, inward our yesterday’s Banking Awareness Lesson,  nosotros learnt close newly established banks. In today’s lesson nosotros shall larn close the types of banking. Frankly speaking, you lot know most of these banking types. Knowingly or unknowingly you lot utilisation atleast one-half of these inward your twenty-four hours to twenty-four hours life. So only convey a quick glance too larn which every banking type is non familiar to you. No necessitate to pass much fourth dimension inward mugging upward 🙂

Banking Awareness 2017 : Types of Banking

Retail Banking

It is also known every bit Consumer Banking. It is the provision of services past times banking concern to private consumers rather than to companies, corporations or other banks. Services offered include savings

too transactional accounts, mortgages, personal loans, debit cards too credit cards, auto loans & habitation loans etc.

Direct Banking

Direct Banking is Banking without whatever branch network that offers its services remotely via online banking too telephone banking too may also render access via ATMs. 

Virtual Banking

A virtual banking concern offers only about or all types of accounts too services that traditional bricks too mortar banks do, but virtual banks be entirely online (only over the internet). 

Online Banking

It is an electrical payment organization that enables customers of a fiscal establishment to behave fiscal transactions on a website operated past times the institution, such every bit retail bank, virtual bank. 

Green Banking

It agency promoting environment-friendly practices too reducing carbon footprint from your banking activities. 

Mobile Banking

It is a term used to refer to systems that allow customers of a fiscal establishment to behave a position out of transactions through a mobile device such every bit cellular telephone or tablet.
Mobile banking differs from mobile payments which involve the utilisation of a mobile device to pay for goods or services either at the betoken of sale (POS) or remotely.

SMS Banking

SMS Banking is a type of mobile banking, a technology enabled service offering from banks to its customers, permitting them to operate selected banking services over their mobile phones using SMS Messaging.
SMS Banking services are operated using both force too line messages. Push messages are those that the banking concern chooses to mail out a customer’s mobile phone. Type of force message is One Time Password (OTP). OTPs are the latest tool used past times fiscal & banking service providers inward the struggle against cyber fraud. Pull messages are those that are initiated past times the customers, using a cellular telephone for obtaining data or performing a transaction inward the banking concern account.

Telephone Banking

It is a service provided past times a banking concern or other fiscal establishment that enables customers to perform a attain of fiscal transactions over the telephone, without the necessitate to catch a banking concern branch or ATM.
It includes obtaining work organization human relationship balances & listing of latest transactions, electrical nib payments & fund transfers betwixt customer’s or another’s accounts.
Transactions involving cash or documents are non able to hold upward handled using telephone banking.

Core Banking

It is a banking service provided past times a grouping of networked banking concern branches where customers may access their banking concern work organization human relationship & perform basic transactions from whatever of the fellow member branch offices.

Offshore Banking

It agency dealing inward Foreign Exchange.

Narrow Banking

It is called prophylactic banking. It involves mobilizing a larger amount of the deposits inward Risk complimentary assets every bit govt. securities. Its primary objective is to trim down NPA (Non Performing Assets) of the banks. In companionship to acquire solutions of problems of high NPA too related matters Indian Banks partially implemented the narrow banking alongside the persuasion of Tarapore Committee on Capital Account convertibility.

Kiosk Banking

For Financial Inclusion, Kiosk Banking plays an of import utilisation inward banking industry. It is boon for people where banking facilities are non available. Like an ordinary banking concern branch, Kiosks offering all basic services of banking every bit cash deposit, withdrawals too Remittances. A client tin asking for opening a novel banking concern work organization human relationship alongside Kiosk banking retailers.
Note : Maximum boundary of Deposit or remit amount is Rs. 10,000 per twenty-four hours through Kiosk branch (internet enabled).
That’s all for straightaway friends. In our side past times side Banking Awareness lesson, nosotros shall larn close the Types of Bank Accounts. Good Day 🙂
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