BUSINESS

Services used by enterprises for the conduct of their business activities for example banking , insurance , communication , warehousing, and

transportation

BANKINGBank means a company accepting deposits

of money from public (for lending and investment ) repayable on demand and

withdrawal by cheque or otherwise

Types of banks: Commercial bankCooperative bankSpecialized bank

Central bank

Commercial bank :Public sector: they are owned by

government they are 2o in numbers E.G; SBI , PNB, IOB, etc…

Private sector : this is owned and managed by foreign promoters HDFC, ICICI

etc.. To emphasize more on profitabilityForeign banks: they are owned and

managed by foreign promoters . For example citi bank, standard chartered

CO-OPRATIVE BANK :They provide cheap credit to their members ,

an important source of rural credit i.e. agriculture financing in India for example:

Delhi nagrik, shastri bank etc..

SPECIALIZED BANK:They are foreign exchange banks, industrial

bank, development bank ,export/import banks, ect.. These banks provide financial aid to the industries , heavy turnover / key projects and foregine trade . For example:

IDBI,SIDBI

CENTRAL BANK :The central bank of the country is the apex institution and the monetary authorith of a

country it issues currency and control of money supply and credit in the country . It

supervises controls and regulates the activity of all commercial banks. It also act

like banker to the government reserve bank of india is the central bank of our country

E-BANKING

Banking using electronic media i.e. internet with personal computer , laptop , or mobile phones ,

is called e-bankingE-banking is a service provided by all banks , in

which a costumer is allowed to conduct banking transaction through internet it includes ATMs, credit cards , debit cards, mobile banking and

internet banking

Services offered by E-bankingElectronic fund transfer(EFTS)

Automated teller machine(ATM)Point of sales (PoS)

Credit cards

BENEFITS OF E-BANKING•24 hours ,7 days

• It can be operate from any part of the world•It provides grater security as costumer travel

without money

FUNCTIONS OF COMMERCIAL BANKS

ACCEPTING THE DEPOSITE:•Fixed/time deposit

•Current/demand deposit•Saving deposit accounts•Recurring deposit accounts

Lending funds• Loans

• Cash credit• Over draft

• Discounting and purchase of bills of exchange

Cheque facilityRemittance of

fundsAllied services