retail financial services
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Retail Financial Services
JMJ
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Contents
Retail Financial Services
o Credit Cards
o Debit Cards
o Smart Cards
o Automated Teller Machines
o Electronic Fund Transfero Electronic Clearing
o Portfolio Management Services
o Broking Services
o Consumer Credit
o Hire Purchase Finance
o Housing Finance
o Personal Tax Counseling
o Internet Banking
o Virtual Banking
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Retail Financial Services
The retail financial services (RFS) sector covers
all banking, insurance and wealth management
services to individuals and small businesses.
It helps to meet the financial needs of
consumers and small businesses.
The retail financial services market is having apotential $30 billion and it is regarded as the key
driver to the Indian economy.
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Retail Financial services are.
oCredit cards
oDebit cards
o Smart cards
oAutomated Teller
Machines
oElectronic Fund Transfer
oElectronic Clearing
oPortfolio Management
Services
oBroking Services
oConsumer Credit
oHire Purchase Finance
oHousing Finance
oPersonal Tax
Counseling
o Internet Banking
oVirtual Banking
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JMJ
Credit Cards
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What is Credit card?
A credit card is a card or mechanism which enables
cardholders to purchase goods, travel and dine in a
hotel without making immediate payments.
It is a part of a system of payments named after the
small plastic card issued to users(Cardholders) of
the system. The issuer of the card grants a line ofcredit to the user from which he/she can borrow
money for payment to a merchant(Member
establishment) or as a cash advance to the user.
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Parties to a Credit Card
Issuer: Bank or other card
issuing organisations
Cardholders: Individuals,
corporate bodies, etc
Member Establishments:
Shops and service
organisations enlisted byissuer who accept credit cardsMember
Affiliate:
Visa, Master
Card, etc
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Procedure of credit card operation
The card holder gives the card to the merchant afterthe purchase of something.
She/he after proper verification swipe it with the
card payment terminal.
After electronic verification n account adjustments,
a charge slip in triplicate is being generated, one
copy to customer, one to merchant, one to bank. The one copy of charge slip will be signed by the
user for further verification n kept with merchant.
Happy User. Happy Seller Happy Banker..!
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How it works?
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Types of Credit Cards
1. Credit Card
Normal card, can purchase without cash n canwithdraw money.
Revolving credit principle
A limit in the amount that can be spend, up to 45 daysof credit, interest on outstanding ( 30 -36 % /annum)
2. Charge Card
Convenient means of payment for goods purchased. Makes purchase, consolidated bill for a specific period.
Bills are payable in full on presentation.
No interest charges, no limits on spending
Andhra bank, BOB, Can, Diners club card etc
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3. In-Store Card Issued by retailers or companies, but purchase restricted to
issuers outlets or products only.
Payment on monthly or extended credit basis, but interest ischarged for extended period.
Usually issued by hotels, resorts, petroleum Cos, etc
4. Corporate Credit Cards Issued to public, private limited Cos and public sector units.
Add-on cards can be issued to persons authorized by company. Name of the Co 'will be endorsed on add-on cards.
Transactions on add-on cards are also billed to main card anddebits are made to companys account.
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5. Business Cards Similar to corporate card.
Meant for the use of proprietary concerns, firms, etc.
Limit is fixed based on status of firms.
6. Virtual card Main purpose is to provide security.
Can be generated by anybody at any time if he has alreadyregistered his name in Banks website.
Lapses after use and cant be revised.
Completely prevents misuse and offered to existing card
holders free of cost.
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Benefits of Credit card
To card holders:
Simple to operate and easy to carry. No risk of carrying
cash or cheque book . Purchase now- Payment later.
Can also be used as ATM card.
Overdraft facility is also available on past credit rating.
Purchasing power increases and have extra money free
of interest.
Provides certain level of prestige.
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Benefits of Credit card
To issuers:
Offers high profit- Commission of 2.5% on sales, 1.5%
on outstanding, and sometimes may accumulates to60% per annum.
May help to get new customers
Helps to reduce cost
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Benefits of Credit card
To Member Establishments:
Has guarantee of payment and no bad debts.
Speedy settlement of bills by banks and a good cashflow can be maintained.
Reduces cash security risk.
Can offer credit facility without setting up own credit
arrangements.
Helps to increase volume of business.
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Demerits of Credit card
To Card Holders:
May have the burden of service charge, annual fee,membership fee, etc.
A minimum of 5-10% have to paid for the late payment.
Heavy interest rate for defaulters n some hiddencharges may occur.
May tempt the holders to spend more than their
income and repaying capacity.
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Demerits of Credit card
To issuers:
Cost involved is high- Cost of card, cost of staff toprocess applications, cost of placing and marketing, etc
The menace of frauds perpetuated by holders of fake
cards.
Disputes with member establishments.
Underutilisation.
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Demerits of Credit card
To Member Establishment:
The commission to be paid to the issuing banks/ creditcard organisation is heavy.
Some banks may delay in payments.
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Debit Cards
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What is Debit card?
It is a plastic card which provides an alternativepayment method to cash when making purchases.
The holder needs to have a bank account to getdebit card.
Used widely for telephone and Internet purchases.
It also allow for instant withdrawal of cash, acting as
the ATM card for withdrawing cash
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After purchase the card holder can present the card
to the merchant.
Hell swipe card at terminal known as Point of SaleTerminal and the holder may be asked to enter the
4 digit PIN.
After further electronic processing, a sales slip will
be generated in 3 copies as in credit card.
The purchase amount will be automatically
deducted from the bank account.
Procedure of operation
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Benefits of Debit card
No need to carry cash.
Obtaining a debit card is easier than credit card.
More security than Credit card. Avoids overdraft, permits to purchase only up to
amount available in account.
No service charge, fee, fine etc
No worry of credit, monthly bills, payments etc.
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Demerits of Debit card
Record keeping is mandatory
Convenience is not always guaranteed
Hidden fees Internet scams
Fear of loosing
Some ATM machines charge a fee for use.
No way to withhold payment.
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Difference between Credit Card and Debit
Card
Credit Card
1. Pay later Product
2. Credit for 30 to 40 days
3. No need of sophisticated
telecommunication system
4. No need of bank accountand balance in it.
5. Possibility of risk of fraud is
high.
Debit Card
1. Pay now Product
2. No Credit, Amount
debited immediately.3. Needs sophisticated
communication network
4. Needs bank account andsufficient balance in it.
5. Risk is minimized through
PIN.
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Smart Cards
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Smart cards
A smart card, chip card, or integrated circuit card(ICC), is any pocket-sized card with embedded
integrated circuits which can process data.
Two broad categories of ICCs.
Memory cards: Contain only non-volatile
memory storage components, and perhaps some
specific security logic.Microprocessor: Contain volatile memory and
microprocessor components.
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It can receive input and can deliver output.
The card is made of plastic, generally PVC.
It has a hologram to avoid counterfeit ( imitation)
Eg: SIM cards in mobile E.g HDFC
Smart cards
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Applications of Smart cards
Computer securitySmart cards are used to securely hold encryption
keys, and also to add another layer of encryption tocritical parts of the secured disk.
Financial ApplicationsATM cards, fuel cards, SIMs for mobile phones,
authorization cards for pay television, high-securityidentification and access-control cards, and publictransport and public phone payment cards
Identification
Smart cards are used for authentication of identity.
Entry cards, Licenses, etc
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Benefits of Smart cards
It can be readily reconfigured Reusable
Transactions can be done off and on-line
Gives more security, thus reducing the risk oftransaction fraud
High memory capabilities
They are much more durable and reliable
They allow multiple applications to be stored in onecard.
It is more convenient, since people don't have to carry
cash or multiple cards.
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Demerits of Smart cards
Fees applied with the use of a card
It gives liability issues if stolen or lost
Lack of technology to support users
It is potential for too much data on one card if lost
or stolen
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Automated Teller Machine
Automated Teller Machine(ATM) is an
electronic machine which is operated by the
customer himself to make deposits withdrawals
and other financial transactions
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Merits Round the clock quick service to the
customers
There is ease and privacy of operations Self operating and no need for bank
staff
Free from human errors
Cost of maintenance of ATM is lesser
Reduces rush in bank
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Demerits
Initial set up cost is high
This system demands a higher degree of
sophistication and literacy on the part of users
Cash dispensation is limited to a few
denominations.
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History
Invented by Scot John Shepherd-Barron.
The world's first ATM was installed in a branch ofBarclays in the northern London
De La Rue developed the first electronic ATM First person to use-Reg Wamey
The first ATMs accepted only a single-use token orvoucher
The idea of a PIN stored on the card was developedby the British engineer John Rose in 1965
Wide UK use in 1973
IBM 2984 CIT (Cash Issuing Terminal) was the firsttrue Cashpoint, similar in function to today's
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Location
Bank premises
Public places
Two typeso On premises-complement to an actual bank
branchs capability.
o Off premise-for straight need of cash.
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Alternative uses
Deposit currency recognition, acceptance, and recycling
Paying routine bills, fees, and taxes (utilities, phone bills, social security,legal fees, taxes, etc.)
Printing bank statements
Updating passbooks
Loading monetary value into stored value cards
Purchasing
Games and promotional feature
Donating to charities
Cheque Processing Module In Australia, Belgium, Cook Islands, Finland, Germany, Ireland, India, Italy,
New Zealand, Portugal, South Africa, Spain and the United Kingdom, pre-paid cell phones can be recharged through some ATMs
ATMs can also act as an advertising channel for companies to advertise
their own products or third-party products and services.
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Electronic funds transfer
Electronic funds transfer or EFT refers tothe computer-based systems used to perform
financial transactions electronically.
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Features
Customer can deposit, withdraw and deal with
any branch.
Transfer with the help of plastic cards
cardholder-initiated transactions, where a
cardholder makes use of a payment card
electronic payments by businesses, including
salary payments
electronic check (or cheque) clearing
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Card-based EFT
EFT may be initiated by a cardholder when a payment cardsuch as a credit card or debit card is used
Transaction types
Sale
Withdrawal
Deposit
Cash back
Inter account transfer
Payment Inquiry
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Many banks are replacing traditional checks
and deposit slips with electronic fund transfer
(EFT) systems, which utilize sophisticated
computer technology to facilitate banking and
payment needs.
Routine banking by means of EFT is
considered safer, easier, and more convenientfor customers.
Electronic Banking
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Electronic Clearing Service
Electronic Clearing Service is a mode of
electronic funds transfer from one bank
account to another bank account using the
services of a Clearing House set up by Reserve
Bank of India
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The advantages to the banks
Banks handling ECS get freed of paper handling.
Paper handling also creates lot of pressure on banksas they have to encode the instruments, present
them in clearing, monitor their return and follow upwith the concerned bank and customers.
In ECS banks simply get the payment particularsrelating to their customers. All they need to do is to
match the account particulars like name, a/c numberand credit the proceeds
Wherever the details do not match, they have toreturn it back, as per the procedure
S h b fi h ECS lik
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Scheme benefit the ECS users -like
corporate bodies/ institutions
The ECS user saves on administrative machineryfor collecting the cheques, monitoring theirrealization and reconciliation
Better cash management.
Avoids chances of frauds due to fraudulent accessto the paper instruments and encashment.
Realize the payments on a single date instead of
fractured receipt of payments. Ability to make payment and ensure that the
beneficiaries' account gets credited on adesignated date.
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Participants in the ECS debit scheme
Telephone companies
Electricity supplying companies
Electricity boards Credit card collections
Collection of loan installments by banks and
financial institutions
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PORTFOLIO MANAGEMENT SERVICES
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PORTFOLIO MANAGEMENT
Portfolio management is essentially asystematic method of managing one'sinvestment efficiently.
Rather than investing the entiresavings in a single security, they investin a group of securities. Such a group
of securities is called a portfolio.
SCOPE OF PORTFOLIO MANAGEMENT
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SCOPE OF PORTFOLIO MANAGEMENT
SERVICES
Portfolio management services refers to those servicesprovided to the investors where in the agency takes theresponsibility of using the funds effectively for maximumresults.
The agency converts the fund into compatible portfolioson the basis of the objectives and the constraints of theinvestor.
It continuously evaluates and makes necessaryadjustments for better results.
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Portfolio management begins with thediscussion of the investors objectives,constraints and preferences and their
relationship with the available investmentopportunities.
This leads to a well defined portfolio policyand strategy statements on the allocation of
funds among various types of assets ,timing ofinvestments and disinvestments.
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TYPES OF PMS
The PMS being offered by the industry can beclassified into three types. The services differ
on the basis of the discretion lying with thefirm in managing the portfolio.
1.Non-discretionary PMS
2.Delegated Investment management. 3. Optional .
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Non-discretionary PMS:
This service is targeted towards investors who
would like to make their own decisions
regarding the use of their funds-these are
generally large portfolio owners.
The role of the firm is in the execution of the
order of the investor.
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Delegated Investment management:
This discretionary service is for clients who
would leave the management of their
portfolios to the firm.
This service is more attractive to the provider
as this gives the firm a freedom to use its
knowledge and judgment.
The client is interested in better return/
performance of the portfolio.
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Optional
In this kind of service the provider offers a non discretionary PMS in the beginning and it gainsexpertise and develops in infrastructure, it can
offer any of the two types stated above to theclients depending on their choice.
The firms also provides several additional services
e.g tax counseling sessions, borrowing against
securities, temporary overdraft facility, across thecounter facility and quarterly meetings of investors.
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PORTFOLIO MANAGEMENT
Return on Investment: Although the RBI guidelines donot permit the provision of any guaranteed return onsecurity of the principal, the firms offer a return of 14-35% to the clients. The return from the clients portfolio
depends on the tenure of association and the marketindex.
Fee Charged: A variety of arrangements exist between
the portfolio manages and their clients with regard othe fee charged. Some assure a minimum certain rateof return and no fee is charged unless this return isgenerated for the clients.
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Lock-in period: This period varies from three months to two years.
Some firms also provide the service without such restrictions .
Investments: Portfolio managers favor the investment of the
funds in a mix of money and capital market instruments. Thechoice of the instruments depends on the tax liability and the risk
profile of the clients.
Interface with Clients: The intensity of the interface isdetermined by the type of PMS acquired by the client. In the case
of a non-discretionary PMS, the interaction is limited to the
provision of regular information about the status of the clients
portfolio
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Interface with Brokers and Stock Exchange: Portfolio managers
take the services of brokers for a better investment of funds.
Many firms have in house brokers. Others take help from a
panel of approved brokers.
Maintenance of Accounts: Under the RBI guidelines on Portfolio
Management, the firms have to maintain separate accounts for
each client. This is followed due to the implications of theprovisions of the Income Tax Act and the Companies Act. Public
sector mutual funds have been exempted from income tax and
the proceedings out of the funds can be distributed among the
investors.
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PMS- offered by entities with SEBI registration
INDIA- offered by Asset Management companies & brokerage
houses
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Reliance Portfolio Management
Enam Asset Management,
PruICICI Asset Management
J M Morgan Stanley Retail
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STOCK BROKING SERVICES
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STOCK BROKING SERVICES
Stock broker
A stock broker is a regulated
professional who buys and sells sharesand other securities through marketmakers on behalf ofinvestors.
There are two types of Stock Brokers:
Full Service Stock Brokers Discount Stock Brokers
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Full Service Stock Brokers
Full service brokers will give you advice and investment
recommendationsThese firms usually have full-time research departments
and investment analysts who provide information the
firm's brokers share with clients
have very high commission fees and are usually onlysuitable for investors who have a great deal of money to
invest and who do few trades
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Discount Stock Brokers
Discount brokers can answer any investment questions
you may have, but they offer fewer personalized
services for their clients Making stock recommendations or giving you
portfolio advice.
These are the brokers that advices trade with very
low trade commission feesWhen you buy or sell stock, you will be paying this
lower commission rate, which results in the investor,
making more money.
S i
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Services
There are three types of stock broking service.
Execution-only, which means that the broker will onlycarry out the client's instructions to buy or sell.
Advisory dealing, where the broker advises the clienton which shares to buy and sell, but leaves the finaldecision to the investor.
Discretionary dealing, where the stockbrokerascertains the client's investment objectives and then
makes all dealing decisions on the client's behalf.
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Brokerage terms
Front office : This is a description of the part
of a brokerage firm that is "client facing".
The sales staff, brokers and traders are part of
the front office.
Functions of the front office include
acquisition and entry of orders, fulfillment of
the orders, and all the regulatory reporting for
the orders.
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Back office: The back office is where theclearance processing of the trade is done.
Transfer of securities and money and the
tracking of "failure to deliver" is handled. Securities lending for a brokerage firm,
wherein shares of a security that is being sold
short are located to ensure they can bedelivered, is usually included in the back officeas well.
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Bulls: A bull is a term used in the stock
exchange market to refer to a stock market
optimist who believes that share prices are
likely to go higher, and who acts according to
his investment operations.
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CONSUMER CREDIT
CONSUMER CREDIT
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CONSUMER CREDIT
Consumer credit includes all assetbased financingplans offered to primarily individuals to acquiredurable consumer goods.
In a consumer credit transaction, the individual-consumer-buyer pays a fraction of the cash purchaseat the time of the delivery of the asset and pays thebalance with interest over a specified period of time.The main suppliers of consumer credit are
foreign/multinational banks, commercial banks andfinance companies.
There is no specific legislation to regulate consumer
credit in India.
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SALIENT FEATURES
The salient features of consumer credit are:
1.Parties to the transaction
2.Structure of the transaction
3.Mode of payment
4.Repayment period and rate of interest
5.Security
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Parties to the transaction
The parties to a consumer credit transaction
depends upon the nature of the transaction.
In a bipartite arrangement, there are two
parties, namely, borrower-cum-customer and
dealer-cum-financier.
In a tripartite arrangement, the parties are
dealer , financier and the customer. The dealer
in this type of arrangement arranges the credit
from the financier.
Structure of the transaction
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Structure of the transaction
A consumer credit arrangement can be structured in three
ways.
Hire-purchase:A method of buying goods through making
instalment payments over time.
The term hire purchase originated in the U.K
similar to what are called "rent-to-own" arrangements in the
United States.
Under a hire purchase contract, the buyer is leasing the goods
and does not obtain ownership until the full amount of the
contract is paid.
Can buy goods on full payment
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Conditional sale: The ownership is nottransferred to the customer until the total
purchase price including the credit charge is
priced. The consumer cannot terminate the agreement
before the payment of the full price.
Credit sale: The ownership is transferred to thecustomer on the payment of the first installment.
He cannot cancel the agreement.
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Mode of payment
The consumer credit arrangements fall into
two groups:
Down payment schemes
Deposit-linked schemes
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Repayment period and rate of interest: The
repayment period ranges between 12-60 monthly
installments. The rate of interest is normally
expressed at a flat rate.
Security:It is generally in the form of a first charge on
the asset. The consumer cannot
sell/pledge/hypothecate the asset.
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HIRE PURCHASE
FINANCE
Introduction
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Hire purchase is a method of selling goods.
Creditor and Hirer
Singer Manufacturing Company started the hire
purchase agreement.
The organized sector and the unorganized
sector are engaged in the hire purchase
business
Introduction
FEATURES
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FEATURES
Each installment is treated as hire charges
The buyer takes possession of goods immediately and
agrees to pay the total price in installments.
Ownership of goods passes from the seller to thebuyer on the payment of the installment
The buyer makes any default in the payment of anyinstallment the seller has the right to repossess thegoods the from the buyer and forfeit the amount
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The hirer has the right to terminate the agreementany time before the property passes
He has the option to return the goods in which casehe need not pay installments falling due thereafter.
DEFINITION
The Hire Purchase Act, 1972 defines a hire purchaseagreement as, an agreement under which goods arelet on hire and under which the hirer has an optionto purchase them in accordance with the terms ofagreement under which:
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Specified period for payment
Each installment is treated as hire charges
Ownership of the goods transferred only after the
payment of installment.
Possession is delivered to the purchaser at the time
of entering into a contract.
Right to repossess the goods and forfeit amountalready received treating it as hire charges.
Right to terminate the agreement.
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HIRE PURCHASE AGREEMENT
Creditor and hirer
Sufficient description about the goods
Price of goods
Date of commencement of agreement
No: of installment, amount, and due date
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HIRE PURCHASE AND CREDIT SALE
In hire purchase until the last payment the
ownership remains with the seller.
In credit sale the title in the property is
transferred to the purchase simultaneously.
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Hire purchase and installment sale
In case of hire purchase the ownership of goods is
delivered only after the last payment and the right to
repossess the goods.
In case of installment system the ownership of the
goods and the possession of the goods transferred
immediately and the right of disposing of the goods.
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BANKS CREDIT FOR HIRE PURCHASE BUSINESS
The subsidiary of commercial banks lend to the
dealer or to finance intermediary who has
already financed articles sold by the dealer to
the hirer under a hire-purchase contract.
Procedures are:
Customer
Purpose
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Amount
Period
Repayment
Security
Monitoring and Control
H i Fi S
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Housing Finance System
The Central Government has set up Housing
and Urban Development Corporation
(HUDCO) to finance and undertake housingand urban development programmers,
development of land for satellite towns,
besides setting up of a building materialsindustries.
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Objectives
to provide long-term finance for construction
of houses for residential purpose and urban
development programmers
To finance or undertake the setting-up of new
satellite towns.
To finance or undertake the setting-up of the
building materials industries.
C ti
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Conti
The principle mandate of the HUDCO was to
ameliorate the housing conditions of the low
income group (LIG) and economically weaker
sections (EWS).
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The HUDCO was established with an equity baseof Rs2 crores.
They extends assistance, benefiting masses inurban and rural areas, under a broad spectrum of
programmes.They are
Housing :- Rural housing, cooperative housing,urban employment through housing and shelterup gradation
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Infrastructure
Land acquisition, basic sanitation and
environmental improvement of slums.
Consultancy Services
Building centers for technology transfer,
building materials industries and building
technology.
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Training
Training in human settlements and technical
assistance to all borrowing agencies.
The LIC and GIC support housing activity both
directly or indirectly.
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Commercial banksAccording to RBI guidelines, scheduled commercial banksare required to allocate 1.5% of their incremental depositsfor disbursing as housing finance every year.
Cooperative Banks
Consists of state cooperative banks, District CentralCooperative banks ,finance by individuals, cooperativegroup housing societies
Specialized Housing Finance Institutions
- Caters only to the need of housing sector- -e.g HDFC ltd
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Internet banking
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Internet banking(on line banking) allows
customers to conduct financial transactions on
a secure website operated by their retail or
virtual bank, credit union or building society.
Internet banking involves use of Internet for
delivery of banking products & services
Internet banking is increasingly becoming a"need to have" than a "nice to have" service.
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Internet banking is one more channel, onemore access point like an automated tellermachine or a call centre from where a
customer can transact business for whichearlier he used to go to a bank branch.
Internet is the cheapest of all banking
channels and helps bank to gain substantiallyin terms of transaction costs.
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A successful Internet banking solution offers Exceptional rates on savings,CDs
Checking with no monthly fee, free bill
payment and rebate on ATM surcharges
Credit cards with low rates
Easy online applications for all accounts,
including personal loans and mortgages
24 hour account access
Quality customer services with personal
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The six primary drivers of Internet bankingincludes
Improve customer access
Facilitate the offering of more services
Increase customer loyalty
Attract new customers
Provide services offered by competitors
Reduce customer attrition
M i i i t t b ki
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Main concerns in internet banking
Security is the most important issue of onlinebanking.
. There is a dual requirement to protect
customers' privacy and protect against fraud A multi-layered security architecture
comprising firewalls, filtering routers,encryption and digital certification ensures
that your account information is protectedfrom unauthorized access:
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Firewalls and filtering routers ensure that only the
legitimate Internet users are allowed to access the
system.
Encryption techniques used by the bank (including
the sophisticated public key encryption) would
ensure that privacy of data flowing between the
browser and the Infinity system is protected.
Digital certification procedures provide the
assurance that the data you receive is from the
Infinity system
Virtual banking
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A virtual bank is a bank with a very small or
nonexistent branch network
. By eliminating the costs associated with retail
banking, particularly bank branches, virtual
banks may offer higher interest rates and
lower service charges on their savings
accounts than their competitors.
It offers its financial services by:
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It offers its financial services by:
Telephone banking
Online banking
Automated teller machines
Mail banking
Mobile banking
List of virtual banks
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Bank of Internet (United States)
Citi Direct, a division of Citibank (United
States)
Ebank (United States)
HSBC Direct, a division of HSBC Bank USA
(United States)
ING Direct, part of ING Group (worldwide
Telephone banking
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Telephone banking
Telephone banking is a service provided by a
financial institution which allows its customers
to perform transactions over the telephone
Automated teller machine (ATM
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An automated teller machine (ATM) is a
computerized telecommunications device that
provides the customers of a financial
institution with access to financialtransactions in a public space without the
need for a human clerk or bank teller
Mail banking
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Mail banking
Mail banking is a service provided by a financial
institution which allows its customers to deposit
cheques into their account by mail.
It is primarily used by virtual banks (as they maynot offer branches or ATMs that accept deposits)
and by customers who live too far from a branch.
Typically, the institution that advertises such aservice will provide its own self-addressed
stamped envelopes as a courtesy
Mobile banking
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Mobile banking
Mobile Banking refers to provision and
availment of banking- and financial services
with the help of mobile telecommunication
devices.
The scope of offered services may include
facilities to conduct bank and stock market
transactions, to administer accounts and toaccess customised information."
Mobile Banking Services
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Mobile Banking Services
Account Information
Payments, Deposits, Withdrawals, and
Transfers
Investments
Support
Contented Services
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Thank you!