insurance project.docx

7/25/2019 insurance project.docx

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STUDY OF

GROWTH & DEVELOPMENT OF

INDIAN BANKING SECTOR IN LAST 10 YEARS

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T676A6SHIKSHAN PRASARAK MANDAL8S

PRAGATI COLLEGE OF ARTS & COMMERCE

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PRAGATI COLLEGE OF ARTS &COMMERECE

DOMBIVLI 9E:

CERTFICATE

(2015-2016)

This is to certify that Mr. ROHIT CHANDRAKANT UTEKAR, Seat No:

of B.com Bankin ! "ns#rance Semester $" (2015-16) has s#ccessf#%%y

com&%ete' the &roect on,STUDY OF GROWTH AND DEVELOPMENT OF

INDIAN BANKING SECTOR IN LAST 10 YEARS #n'er the #i'ance of

P#"$6S2a,( P+*a!'a#6

(rof. S*ati #sa%kar) (+r. ..Mahaan)

o#rse oor'inator rinci&a%

(rof. S*ati #sa%kar.)


3/21

DECLARATION

" am, ROHIT CHNADRAKANT UTEKAR , the st#'ent of B.M BN/"N

! "NSN3 S3M3ST3 $ (2015-16) 'ec%are that " ha4e com&%ete' the

&roect on STUDY OF GROWTH AND DEVELOPMENT OF INDIAN

BANKING SECTOR IN LAST 10 YEARS

The information s#mitte' is tr#e an' oriina% to the est of my kno*%e'e.

Sinat#re of st#'ent

ohit tekar

Seat No. :


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ACKNOWLEDGEMENT

&art from the efforts of me, the s#ccess of my &roect is tota%%y 'e&en's on

enco#raement an' #i'e%ines of many others. " take this o&&ort#nity to e&ress

my 4ie* to the &eo&%e *ho ha4e een thankf#% in the s#ccess of com&%etion of this&roect.

" *o#%' %ike to sho* my reatest a&&reciation to my &roect #i'e as *e%% as

co#rse coor'inator rof .S*ati #sa%kar *itho#t their enco#raement, this &roect

*o#%' not ha4e materia%i7e'.

The #i'ance an' s#&&ort recei4e' from a%% the &ersons *ho contri#te' *as 4ery

im&ortant for the s#ccess of the &roect.

8ina%%y, " take this o&&ort#nity to eten' my 'ee& a&&reciation to my fami%y an'

frien's for a%% they meant to me '#rin the etreme%y im&ortant times of

com&%etion of this &roect.

St#'ent sinat#re

ohit chan'rakant #tekar


5/21

INDE?

SR

NO6

TOPICS

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E?ECUTIVE SUMMAMARY


6/21

The to&ic of this &roect is #sef#% to kno* ho* anks are

tremen'o#s%y &erformance. "f *e *ant to 'e4e%o& o#r co#ntry,

then increases in their there m#st e a &ro&er financia% stat#s of

o#r co#ntry! therefore there sector. This is he%&f#% to'e4e%o&ment in ankin m#st e systematic 'e4e%o&ments in

anks y #sin ne* creati4e #n'erstan' the o4era%% &o%icies an'

inno4ation. The creation an' 'e4e%o&ment of ne* forms of

'istri#tion in the ankin sector is oth necessary a reat

#siness eca#se it %ea's to im&ro4ements in instit#tions

o&&ort#nity for financia% meas#re' in terms of income costs,&ro'#cti4ity &erformance o4era%% an' C#a%ity of ser4ice. The

ank *hich #se' the riht techno%oy to increase an' therey

ain s#&&%y time%y information *i%% see &ro'#cti4ity a

com&etiti4e e'e. To com&etiti4e for the "n'ian Banks to

oser4e en4ironment. Not on%y the %atest techno%oy an'

mo'ify it to s#it their anks nee' reat%y enhance' #se of

techno%oy to the c#stomer frien'%y. 3istin ser4ice an'

#siness, they a%so nee' efficient an' com&etiti4e techno%oy for

&ro4i'in ne4er &ro'#cts an' ne4er form of ser4ices in a To'ay,

the &ri4ate en4ironment. +ynamic an' %oa%i7e' increasin%y

"n'ian anks ha4e ro#ht a fresh &ers&ecti4e to ear on the

sit#ation. They a%rea'y o4ersha'o* forein anks on the

sit#ation.


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OB@ECTIVES OF STUDY

To st#'y ao#t the c#rrent scenario of anks.

To st#'y the techno%oica% 'e4e%o&ments an' inno4ations in anks in %ast 103S in ankin Sector.

To kno* ro*th an' "n'ian ankin sector

RESEARCH MRTHODOLOGY


8/21

Sc"/a#4 Da,a5iai%ity co4erae, for the %ea% res&onsii%ity to others for o'i%y in#ry or

&ro&erty 'amae

Me'ica% co4erae, for the cost of treatin in#ries, rehai%itation an'

sometimes %ost *aes an' f#nera% e&enses
http://en.wikipedia.org/wiki/Vehicle_insurancehttp://en.wikipedia.org/wiki/Traffic_collisionhttp://en.wikipedia.org/wiki/Home_insurancehttp://en.wikipedia.org/wiki/Vehicle_insurancehttp://en.wikipedia.org/wiki/Traffic_collisionhttp://en.wikipedia.org/wiki/Home_insurance


16/21

>6 Ga (*+#ac

a& ins#rance co4ers the ecess amo#nt on yo#r a#to %oan in an instance *here

yo#r ins#rance com&any 'oes not co4er the entire %oan. +e&en'in on the

com&anies s&ecific &o%icies it miht or miht not co4er the 'e'#cti%e as *e%%.

This co4erae is markete' for those *ho t %o* 'o*n &ayments, ha4e hih

interest rates on their %oans, an' those *ith 60 month or %oner terms. a&

ins#rance is ty&ica%%y offere' y yo#r finance com&any *hen yo# first rchase

yo#r 4ehic%e. Most a#to ins#rance com&anies offer this co4erae to cons#mersas *e%%. "f yo# are #ns#re if co4erae ha' een rchase', yo# sho#%'

check yo#r 4ehic%e %ease or rchase 'oc#mentation.

6 Ha!,h (*+#ac

=ea%th ins#rance &o%icies co4er the cost of me'ica% treatments. +enta%

ins#rance, %ike me'ica% ins#rance &rotects &o%icyho%'ers for 'enta% costs. "n the

S an' ana'a, 'enta% ins#rance is often &art of an em&%oyerFs enefits

&ackae, a%on *ith hea%th ins#rance.

D. Ca*+a!,4(*+#ac

as#a%ty ins#rance ins#res aainst acci'ents, not necessari%y tie' to any s&ecific

&ro&erty. "t is a roa' s&ectr#m of ins#rance that a n#mer of other ty&es of
http://en.wikipedia.org/wiki/Down_paymenthttp://en.wikipedia.org/wiki/Down_payment


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ins#rance co#%' e c%assifie', s#ch as a#to, *orkers com&ensation, an' some

%iai%ity ins#rances.

6 L($ I*+#ac

>ife ins#rance &ro4i'es a monetary enefit to a 'ece'entFs fami%y or other

'esinate' eneficiary, an' may s&ecifica%%y &ro4i'e for income to an ins#re'

&ersonFs fami%y, #ria%, f#nera% an' other fina% e&enses. >ife ins#rance &o%icies

often a%%o* the o&tion of ha4in the &rocee's &ai' to the eneficiary either in a

%#m& s#m cash &ayment or an ann#ity. "n most states, a &erson cannot rchase a

&o%icy on another &erson *itho#t their kno*%e'e.

6 B+#(a! (*+#ac

B#ria% ins#rance is a 4ery o%' ty&e of %ife ins#rance *hich is &ai' o#t #&on'eath to co4er fina% e&enses, s#ch as the cost of a f#nera%.

The reeksan' omansintro'#ce' #ria% ins#rance c. 600 3 *hen they

orani7e' #i%'sca%%e' Iene4o%ent societiesI *hich care' for the s#r4i4in

fami%ies an' &ai' f#nera% e&enses of memers #&on 'eath. #i%'s in the Mi''%e

esser4e' a simi%ar r&ose, as 'i' frien'%y societies '#rin
http://en.wikipedia.org/wiki/Annuity_(financial_contracts)http://en.wikipedia.org/wiki/Funeralhttp://en.wikipedia.org/wiki/Ancient_Greecehttp://en.wikipedia.org/wiki/Ancient_Romehttp://en.wikipedia.org/wiki/Guildhttp://en.wikipedia.org/wiki/Middle_Ageshttp://en.wikipedia.org/wiki/Middle_Ageshttp://en.wikipedia.org/wiki/Annuity_(financial_contracts)http://en.wikipedia.org/wiki/Funeralhttp://en.wikipedia.org/wiki/Ancient_Greecehttp://en.wikipedia.org/wiki/Ancient_Romehttp://en.wikipedia.org/wiki/Guildhttp://en.wikipedia.org/wiki/Middle_Ageshttp://en.wikipedia.org/wiki/Middle_Ages


18/21

6 P#"#,4(*+#ac

ro&erty ins#rance &ro4i'es &rotection aainst risks to &ro&erty, s#ch

as fire, theftor *eather'amae. This may inc%#'e s&ecia%i7e' forms of

ins#rance s#ch as fire ins#rance, f%oo' ins#rance, earthC#ake ins#rance, home

ins#rance, in%an' marine ins#rance or oi%erThe term &ro&erty ins#rance may,

%ike cas#a%ty ins#rance, e #se' as a roa' cateory some s#ty&es of ins#rance

A. L(a.(!(,4(*+#ac

>iai%ity ins#rance is a 4ery roa' s#&erset that co4ers %ea% c%aims aainst the

ins#re'. Many ty&es of ins#rance inc%#'e an as&ect of %iai%ity co4erae. 8or

eam&%e, a homeo*nerFs ins#rance &o%icy *i%% norma%%y inc%#'e %iai%ity

co4erae *hich &rotects the ins#re' in the e4ent of a c%aim ro#ht y someone

*ho s%i&s an' fa%%s on the &ro&ertyE a#tomoi%e ins#rance a%so inc%#'es an

as&ect of %iai%ity ins#rance that in'emnifies aainst the harm that a crashin

car can ca#se to othersF %i4es, hea%th, or &ro&erty. The &rotection offere' y a%iai%ity ins#rance &o%icy is t*ofo%': a %ea% 'efence in the e4ent of a %a*s#it

commence' aainst the &o%icyho%'er an' in'emnification (&ayment on eha%f

of the ins#re') *ith res&ect to a sett%ement or co#rt 4er'ict. >iai%ity &o%icies

ty&ica%%y co4er on%y the ne%ience of the ins#re', an' *i%% not a&&%y to res#%ts

of *i%f#% or intentiona% acts y the ins#re'.

6 C#/(, (Pa4%, #",c,(" (*+#ac:

re'it ins#rance re&ays some or a%% of a %oan*hen certain circ#mstances

arise to the orro*er s#ch as #nem&%oyment, 'isai%ity, or 'eath.
http://en.wikipedia.org/wiki/Firehttp://en.wikipedia.org/wiki/Thefthttp://en.wikipedia.org/wiki/Weatherhttp://en.wikipedia.org/wiki/Flood_insurancehttp://en.wikipedia.org/wiki/Earthquake_insurancehttp://en.wikipedia.org/wiki/Home_insurancehttp://en.wikipedia.org/wiki/Home_insurancehttp://en.wikipedia.org/wiki/Payment_protection_insurancehttp://en.wikipedia.org/wiki/Loanhttp://en.wikipedia.org/wiki/Unemploymenthttp://en.wikipedia.org/wiki/Disabilityhttp://en.wikipedia.org/wiki/Deathhttp://en.wikipedia.org/wiki/Firehttp://en.wikipedia.org/wiki/Thefthttp://en.wikipedia.org/wiki/Weatherhttp://en.wikipedia.org/wiki/Flood_insurancehttp://en.wikipedia.org/wiki/Earthquake_insurancehttp://en.wikipedia.org/wiki/Home_insurancehttp://en.wikipedia.org/wiki/Home_insurancehttp://en.wikipedia.org/wiki/Payment_protection_insurancehttp://en.wikipedia.org/wiki/Loanhttp://en.wikipedia.org/wiki/Unemploymenthttp://en.wikipedia.org/wiki/Disabilityhttp://en.wikipedia.org/wiki/Death


19/21

Mortae ins#ranceins#res the %en'er aainst 'efa#%t y the orro*er.

Mortae ins#rance is a form of cre'it ins#rance, a%tho#h the name Icre'it

ins#ranceI more often is #se' to refer to &o%icies that co4er other kin's of

'et.

Many cre'it car's offer &ayment &rotection &%ans *hich are a form of cre'it

ins#rance.

Tra'e cre'it ins#ranceis #siness ins#rance o4er the acco#nts recei4a%e of

the ins#re'. The &o%icy &ays the &o%icy ho%'er for co4ere' acco#nts

recei4a%e if the 'etor 'efa#%ts on &ayment.
http://en.wikipedia.org/wiki/Mortgage_insurancehttp://en.wikipedia.org/wiki/Trade_credit_insurancehttp://en.wikipedia.org/wiki/Mortgage_insurancehttp://en.wikipedia.org/wiki/Trade_credit_insurance


20/21

CHARACTERISTICS OF INSURANCE

r4e' in case of %ife, marine, fire an' enera% ins#rances

16Sha#() "$ R(*'5

"ns#rance is a 'e4ice to share the financia% %osses *hich miht efa%% on an

in'i4i'#a% or his fami%y on the ha&&enin of a s&ecifie' e4ent. The e4ent may e

'eath of a rea'-*inner to the fami%y in the case of %ife ins#rance, marine-&eri%s in

marine ins#rance, fire in fire ins#rance an' other certain e4ents in enera%

ins#rance, e.., theft in #r%ary ins#rance, acci'ent in motor ins#rance, etc. The

%oss arisin nom these e4ents if ins#re' are share' y a%% the ins#re' in the form of

&remi#m.

>6C"


21/21

=6Pa4%, a, C",()c4:

The &ayment is ma'e at a certain continency ins#re'. "f the continency occ#rs,

&ayment is ma'e. Since the %ife ins#rance contract is a contract of certainty,

eca#se the continency, the 'eath or the e&iry of term, *i%% certain%y occ#r, the

&ayment is certain. "n other ins#rance contracts, the continency is the fire or the

marine &eri%s etc., may or may not occ#r. So, if the continency occ#rs, &ayment is

ma'e, other*ise no amo#nt is i4en to the &o%icy-ho%'er.

6A%"+, "$ Pa4%,5

The amo#nt of &ayment 'e&en's #&on the 4a%#e of %oss occ#rre' '#e to the

&artic#%ar ins#re' risk &ro4i'e' ins#rance is there #& to that amo#nt. "n %ife

ins#rance, the r&ose is not to make oo' the financia% %oss s#ffere'. The ins#rer

&romises to &ay a fie' s#m on the ha&&enin of an e4ent.

6I*+#ac (* ", Cha#(,4:

harity is i4en *itho#t consi'eration #t ins#rance is not &ossi%e *itho#t

&remi#m. "t &ro4i'es sec#rity an' safety to an in'i4i'#a% an' to the society

a%tho#h it is a kin' of #siness eca#se in consi'eration of &remi#m it #arantees

the &ayment of %oss. "t is a &rofession eca#se it &ro4i'es a'eC#ate so#rces at the

time of 'isasters on%y y charin a nomina% &remi#m for the ser4ice.

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