united bank of india

7/21/2019 United Bank of India

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INDEX

SR NO PARTICULARS PG NO

1 Overview of Banking

1.1 Introduction to Banks

1.2 History of Banks

1.3 Functions of Banks

1.4 Banking Products

1.5 Introduction to Financial ervices

1.! Features of Financial ervices

1." I#$ortance of Financial ervices

1.% ources of &evenue

1.' O()ectives of Financial ervices

1.1* +auses of Financial Innovation

1.11 Present cenario of Financial ervices

2 +,annels t,roug, w,ic, Products - ervices are offered

2.1 Branc,es

2.2 o(ile Banking

2.3 /ele$,one Banking

2.4 Internet Banking

2.5 0/



3 Products - ervices of Banks

3.1 e$osits

3.2 +redit +ards

3.3 oans

3.4 Invest#ents

4 Innovative Financial Products - ervices

5 Overview of nited Bank of India

5.1 History of nited Bank of India

5.2 Introduction of nited Bank of India

5.3 Products and ervices

5.4 0wards and &ecognitions

6 ata 0nalysis - Inter$retation

7 +onclusion

8 uggestion

9 Bi(liogra$,y

10 0nneure



OVERVIEW OF BANKING

11 INTRODUCTION TO BANK

0 (ank ,as (een descri(ed as an institution engaged in acce$ting de$osits and granting

loans. It is t,e institution w,ic, deals in #oney and credit. It can also (e descri(ed as an

institution w,ic, (orrows idle resources #akes fund availa(le to t,ose w,o need it and

,el$s in c,ea$ re#ittance of #oney fro# one $lace to anot,er. In t,e #odern ti#e ter#

(ank is used in wider ter#. 6ow it does not refer only to $articular $lace of lending and

de$ositing #oney (ut it also acts as an agent w,ic, looks after t,e various financial

$ro(le#s of its custo#ers.

12 !ISTOR" OF BANKS#

/,e (anking syste# in India is (ased on Britis, (anking co#$any w,ic, is largely

(ranc, (anking. +o##ercial (anks in India were started during t,e latter ,alf of 1't,

century Bank of Bengal Bank of Bo#(ay and Bank of adras were later a#alga#ated

to for# one (ank called as I#$erial (ank of India under t,e I#$erial (ank of India 0ct

1'2*. /,e I#$erial (ank carried wit, (usiness of co##ercial (ank #anages t,e $u(lic

de(t office of central and state govern#ent. /,e second ,alf of 1't, century saw

esta(lis,#ent of Bank of Baroda 0lla,a(ad (ank and Pun)a( 6ational Bank. /,ese

(anks were set u$ (y #erc,ants and traders to co#(ined trading wit, (anking. /,ese led

to t,e series if failures of (anks. /,e strengt,ening of (anking syste# took $lace after t,e

esta(lis,#ent of &eserve Bank of India 1'3' as is e#$owers to regulate t,e (anking

#oney ins$ection of #ergers and ac7uisition in ter#s of Banking +o#$anies 0ct 1'4'

w,ic, later ca#e to (e known as Banking &egulation 0ct 1'4'.

13 FUNCTIONS OF BANKS

/,oug, (orrowing and lending constitute t,e #ain functions of (anking yet t,ey are not

only functions of co##ercial (anks. +o##ercial (anks are involved in diversified

activities and $erfor# varieties of function. /,e functions of a #odern (ank are classified

under t,e following ,eads8

9



14 BANKING PRODUCTS

Banks in India ,ave traditionally offered #ass (anking $roducts. ost co##on de$osit

$roducts (eing avings Bank +urrent 0ccount /er# de$osit 0ccount and lending

$roducts (eing +as, +redit and /er# oans. ue to &eserve Bank of India guidelines

Banks ,ave ,ad little to do (esides acce$ting de$osits at rates fied (y &eserve Bank of

India and lend a#ount arrived (y t,e for#ula sti$ulated (y &eserve Bank of India at rates

$rescri(ed (y t,e latter. P& :Pri#e lending rate; was t,e (enc,#ark for interest on t,e

lending $roducts. But P& itself was #ore often t,an not dictated (y &BI. Furt,er

re#ittance $roducts were li#ited to issuance of rafts /elegra$,ic /ransfers and

Bankers +,e7ue and Internal transfer of funds.

In view of several develo$#ents in t,e 1''*s t,e entire (anking $roducts structure ,as

undergone a #a)or c,ange. 0s $art of t,e econo#ic refor#s (anking industry ,as (een

deregulated and #ade co#$etitive. 6ew $layers ,ave added to t,e co#$etition. I/

revolution ,as #ade it $ossi(le to $rovide ease and flei(ility in o$erations to custo#ers.

&a$id strides in infor#ation tec,nology ,ave in fact redefined t,e role and structure of

(anking in India. Furt,er due to e$osure to glo(al trends after Infor#ation e$losion led

(y Internet custo#ers < (ot, Individuals and +or$orate < are now de#anding (etter

services wit, #ore $roducts fro# t,eir (anks. Financial #arket ,as turned into a (uyer=s#arket. Banks are also c,anging wit, ti#e and are trying to (eco#e one<sto$ financial

su$er#arkets.

0 few foreign - $rivate sector (anks ,ave already introduced custo#i>ed (anking

$roducts like Invest#ent 0dvisory ervices ? II accounts P,oto<credit cards +as,

anage#ent services Invest#ent $roducts and /a 0dvisory services. 0 few (anks ,ave

gone in to #arket #utual fund sc,e#es. @ventually t,e Banks $lan to #arket (onds and

de(entures w,en allowed. Insurance $eddling (y Banks will (e a reality soon. /,e recent

+redit Policy of &BI announced on 2".4.2*** ,as furt,er facilitated t,e entry of (anks in

t,is sector. Banks also offer advisory services ter#ed as =$rivate (anking= < to A,ig,

relations,i$ < valueA clients.



UNITED BANK OF BANK

OVERVIEW

United Bank of India (UBI) is one of the 14 major bankswhich were nationalized on July 19, 1969. Its predecessor thenited !ank of India "td., was formed in 19#$ with theamal%amation of four banks &iz. 'omilla !ankin% 'orporation"td. (1914), !en%al 'entral !ank "td. (191*), 'omilla nion!ank "td. (19++) and oo%hly !ank "td. (19-+) (which wereestablished in the years indicated in brackets after the names).he ori%in of the !ank thus %oes as far back as to 1914. /sa%ainst 104 branches, s. 140 crores of deposits and s. 11+crores of ad&ances at the time of nationalisation in July, 1969,

today the !ank is 1$$2 '!3 enabled with1999 branches andoffices and is having a otal business of more than s + laccrore. resently the !ank is ha&in% a hree5tier or%anisationalset5up consistin% of the ead ffice, -# e%ional ffices andthe !ranches.

/fter nationalisation, the !ank e7panded its branch network ina bi% way and acti&ely participated in the de&elopmental

acti&ities, particularly in the rural and semi5urban areas inconformity with the objecti&es of nationalisation. In reco%nitionof the role played by the !ank, it was desi%nated as "ead !ankin se&eral districts and at present it is the "ead !ank in -$districts in the 3tates of 8est !en%al, /ssam, anipur andripura. he !ank is also the 'on&ener of the 3tate "e&el!ankers: 'ommittees (3"!') for the 3tates of 8est !en%al and



ripura.

!I played a si%nificant role in the spread of bankin% ser&ices

in different parts of the country, more particularly in ;asternand <orth5;astern India. !I has sponsored 4 e%ional ural!anks (!) one each in 8est !en%al, /ssam, anipur andripura. hese four !s to%ether ha&e o&er 1$$$ branches.nited !ank of India has contributed -#2 of the share capital=additional capital to all the four !s in four different states. Inits efforts to pro&ide bankin% ser&ices to the people li&in% in thenot easily accessible areas of the 3underbans in 8est !en%al,!I had established two floatin% mobile branches on motor

launches which mo&ed from island to island on different days of the week. he floatin% mobile branches were discontinued withthe openin% of full5fled%ed branches at the centers which werebein% ser&ed by the floatin% mobile branches. !I is alsoknown as the :ea !ank: because of its a%e5old association withthe financin% of tea %ardens. It has been the lar%est lender tothe tea industry.

he !ank has three full fled%ed &erseas !ranches one each at

>olkata, <ew ?elhi and umbai with fully e@uipped dealin%room and 38IA terminal . perations of all the branches ha&esince been computerized and ;lectronic Aund ransfer 3ystemcame to be implemented in the !ank:s branches across thecountry. he !ank has /s all o&er the country and customerscan use nited International ?ebit 'ard at all BI3/ /s acrossthe %lobe.OUR VISION S!E"EN

ur Bision is to emer%e as a dynamic, techno sa&&y, customer5

centric, pro%ressi&e and financially sound premier bank of ourcountry with pan5India presence, 3harply focused on business%rowth and profitability with due emphasis on riskmana%ement in an en&ironment of professionalism, rust andtransparency, obser&in% hi%hest standards of corporate%o&ernance and corporate social responsibilities meetin% thee7pectations of all its stake holders as well as the aspirations of



its employees.

;ssentially ursuit of ;7cellence is %oin% to be core philosophyand dri&in% force for the bank.

nited !ank of India was constituted under the !ankin%'ompanies (/c@uisition and ransfer of ndertakin%s) /ct,190$ on July 19, 1969. he ead ffice of the !ank was set upat 4 'li&e Chat 3treet (presently known as <. '. ?utta 3arani,>olkata 0$$ $$1 which was shifted to its present location at 11emanta !asu 3arani, >olkata D 0$$$$1 in 190+ foroperational efficiency.nited !ank of India is one of the 14 banks which were

nationalised on July 19, 1969. n ctober 1+, 19#$, the nameof !en%al 'entral !ank "imited (established in 191* as !en%al'entral "oan 'ompany "imited) was chan%ed to nited !ank of India "imited for the purpose of amal%amation and on?ecember 1*, 19#$, 'omilla !ankin% 'orporation "imited(established in 1914), the 'amilla nion !ank "imited(established in 19++), the oo%hly !ank (established 19-+)stood amal%amated with the !ank. 3ubse@uently, other banksnamely, 'uttack !ank "imited, ezpur Industrial !ank "imited,industhan ercantile "imited and <aran% !ank of India

"imited were mer%ed with the !ank.

Changes in our Head Office

he ead ffice of our !ank was set up at 4 'li&e Chat 3treet(presently known as <. '. ?utta 3arani, >olkata 0$$$$1 whichwas shifted to its present location at 11 emanta !asu 3arani,>olkata D 0$$$$1 in 190+ for operational efficiency.

Awards/ certifications received by the Bank

Year Award and Recognition

2**! 6ational 0ward for t,e second (est $erfor#ance in financing



s#all scale units (y inistryof #all cale Industries ?overn#ent of India

2**"

?olden u(ilee 0ward for t,e (est (ank in nort, east >one for

ecellence in t,e field of k,adi and village industries fro# t,e inistry of @?overn#ent of India

2**"<2**% Best Bancassurance $artner (y/ata 0I?

2**%

6ational 0ward for t,e (est (ank for ecellence in field ofC,adi and village industries for east and nort, east >ones fro# t,e inistry of @?overn#ent of India

2**%<2**' Pinnacle Partner of t,e year (y /ata 0I?

2**%<2**' Hig,est conti(utor to lives insured (y /ata 0I?

2**' 6ational 0ward under Pri#e inister @#$loy#ent ?uaranteeProgra##e in nort, east>one fro# t,e inistry of @ ?overn#ent of India



BO!R# O$ #IRE%ORS

Name Designation

3hri 3rini&as anaging irector -+,ief @ecutive Officer

,ri an)ay 0rya ;7ecuti&e ?irector

,ri C. Denkata &a#aoort,y

@ecutive irector

3hri /. >. ?o%ra Co&ernment <ominee ?irector

3hri /rnab oy !I <ominee ?irector

ri. . uryanarayana 3hareholder ?irector

,ri Pratyus, in,a 3hareholder ?irector

,ri an)i( Pati 8orkmen ;mployee ?irector

#t. &enuka uttoo 6on Official irector

http://www.unitedbankofindia.com/uploads/MD_CEO_Profile.pdf

http://www.unitedbankofindia.com/uploads/ED2.pdf

http://www.unitedbankofindia.com/uploads/edubi.pdf


http://www.unitedbankofindia.com/uploads/Director_AK_Dogra_Profile.pdf

http://www.unitedbankofindia.com/uploads/ProfileofshriArnabRoy.pdf

http://www.unitedbankofindia.com/uploads/Profile_of_Sri_Suryanarayana.pdf

http://www.unitedbankofindia.com/uploads/Pratyush_Sinha.pdf

http://www.unitedbankofindia.com/uploads/sanjib_pati.pdf

http://www.unitedbankofindia.com/uploads/non-offical.pdf

http://www.unitedbankofindia.com/uploads/ED2.pdf



http://www.unitedbankofindia.com/uploads/Director_AK_Dogra_Profile.pdf

http://www.unitedbankofindia.com/uploads/ProfileofshriArnabRoy.pdf

http://www.unitedbankofindia.com/uploads/Profile_of_Sri_Suryanarayana.pdf

http://www.unitedbankofindia.com/uploads/Pratyush_Sinha.pdf

http://www.unitedbankofindia.com/uploads/sanjib_pati.pdf

http://www.unitedbankofindia.com/uploads/non-offical.pdf

http://www.unitedbankofindia.com/uploads/MD_CEO_Profile.pdf



E&E%UIVE #IRE%ORS

hri an!ay Arya

;7ecuti&e ?irectornited !ank of India

VISION AND $ISSION

V%&%'(

/o (e t,e leading $rovider of financial services in India

0 #a)or glo(al (ank.

$%&&%'(

Ee will leverage our $eo$le tec,nology s$eed and financial ca$ital to#

Be t,e (anker of first c,oice for our custo#ers (y delivering ,ig, 7uality world<class

$roducts and services.@$and t,e frontiers of our (usiness glo(ally.

Play a $roactive role in t,e full realisation of Indias $otential.

aintain a ,ealt,y financial $rofile and diversify our earnings across (usinessesand geogra$,ies.

aintain ,ig, standards of governance and et,ics.

+ontri(ute $ositively to t,e various countries and #arkets in w,ic, we o$erate.

+reate value for our stake,olders



OB)ECTIVES OF CENTRAL BANK OF INDIA

/,e +entral Bank of India is one of t,e oldest Banks in India.

/,e o()ectives of t,e +entral Bank of India are as follows8

/o ,el$ ensure t,e #onetary sta(ility of t,e country<

/o assist in regulating t,e financial syste# of t,e country

/o for#ulate i#$le#ent and #onitor t,e #onetary $olicy. < /o #aintain t,e

li7uidity in t,e country<

/o ensure ade7uate flow of credits. < Prescri(es $ara#eters for (anking in t,e

country.

aintain $u(lic confidence in t,e syste#< /o #anage t,e foreign ec,ange

anage#ent 0ct. < /o facilitate eternal trade.

Issue and ec,ange currency<

aintain su$$ly of currency.

Own and o$erate t,e de$ository and ec,ange for govern#ent (onds. G

Banker to t,e govern#ent



RESEARC! $ET!ODOLOG"

0ccording to ?reen and /all 0 researc, design is t,e s$ecification of t,e #et,ods and

$rocedures for ac7uiring t,e infor#ation needed. It is t,e overall o$erational $attern or

fra#ework of t,e $ro)ect t,at sti$ulates w,ic, infor#ation is to (e collected fro# w,ere

it is to (e collected and (y w,at $rocedures

/,is researc, $rocess (ased on $ri#ary data analysis and secondary data analysis will (e

clearly defined to #eet t,e o()ectives of t,e study.

• I c,ose t,e $ri#ary sources to get t,e data. 0 7uestionnaire was designed in

accordance wit, our #entor in ,irts. I c,ose a sa#$le of a(out 3* cor$orate

custo#ers

• I collected so#e data fro# t,e secondary sources like $u(lis,ed +o#$any

docu#ents internet etc.

R*&*+,-. D*&%/(

0 researc, design is t,e arrange#ent of conditions for collections and analysis of data in

a #anner t,at ai#s to co#(ine relevance to t,e researc, $ur$ose wit, econo#y in

$rocedures. It is a descri$tive cross sectional design .It is t,e conce$tual structure wit,

in w,ic, researc, is conductedJ it constitutes t,e (lue$rint for t,e collection

#easure#ent and analysis of data.

It is needed (ecause it facilitates t,e s#oot, sailing of t,e various researc, o$erations

t,ere(y #aking researc, as efficient as $ossi(le yielding #ai#al infor#ation wit,

#ini#al e$enditure of effort ti#e and #oney.

In t,e $reli#inary stage #y researc, stage constituted of e$loratory study (y w,ic, it

is clear t,at t,e eistence of t,e $ro(le# is o(vious .o I can directly ,ead for t,e

conclusive researc,.



S+%(/ P+(

a#$ling $lan is a distinct $,ase of researc, $rocess. In t,is stage I ,ave to deter#ine

w,o is to (e sa#$led ,ow large s,ould (e t,e needed sa#$le and ,ow sa#$ling unit is to

(e selected.

P'+%'(

In #y researc, I ,ave defined #y $o$ulation as a co#$lete set of custo#ers of agar

+ity.

S+* S,*

0s co#$ared to census study a sa#$le study ,as (een conducted (y us (ecause of8

Eide range of $o$ulation it was i#$ossi(le to cover t,e w,ole $o$ulation

/i#e and #oney constraints.

S+* U(%

In t,is survey I took t,e list of custo#ers fro# t,e dealers of ,irts

S+%(/ T*-.(%*

a#$ling tec,ni7ue i#$lies t,e #et,od of c,oosing t,e sa#$le ite#s t,e two #et,ods of

selecting sa#$le are8

Pro(a(ility #et,od.

6on<$ro(a(ility #et,od.

Pro(a(ility #et,od is t,ose in w,ic, every ite# of t,e universe ,as an e7ual c,ance of

t,e inclusion in t,e sa#$le. 6on<$ro(a(ility #et,ods are t,ose t,at do not $rovide

every ite# in t,e universe wit, known cause of (eing included in t,e sa#$l



DATA SOURCES

&esearc, is totally (ased on $ri#ary data. econdary data can (e used only for t,e

reference. &esearc, ,as (een done (y $ri#ary data collection and $ri#ary data ,as

(een collected (y interacting wit, various $eo$le. /,e secondary data ,as (een

collected t,roug, various )ournals and we(sites and so#e s$ecial $u(lications of

BI&0.

SA$PLING

% S+%(/ P,'-*,*

/,e sa#$le is selected in a rando# way irres$ective of t,e# (eing investor or not or

availing t,e services or not. It was collected t,roug, #ails and $ersonal visits to t,e

known $ersons (y for#al and infor#al talks and t,roug, filling u$ t,e 7uestionnaire

$re$ared. /,e data ,as (een analy>ed (y using t,e #easures of central tendencies like

#ean #edian #ode. /,e grou$ ,as (een selected and t,e analysis ,as (een done on

t,e (asis statistical tools availa(le.

%% S+* S%*

/,e sa#$le si>e of #y $ro)ect is li#ited to 2** only. Out of w,ic, only 135 $eo$le

atte#$ted all t,e 7uestions. Ot,er !5 not investing in Fs atte#$ted only 2

7uestions.

%%% S+* D*&%/(

ata ,as (een $resented wit, t,e ,el$ of (ar gra$, $ie c,arts line gra$,s etc.



ECONO$IC SCENARIO OF T!E BANK TO EXPAND OVERSEAS

GLOBAL DEVELOP$ENTS

/,e after effects of t,e financial crisis of t,e 2**% ,ave continued to i#$act glo(al

econo#y. /,e recovery $rocess w,ic, started since t,en is (eginning to free>e and t,e

sovereign de(t crisis in t,e euro >one area ,as started t,reatening t,e very survival of t,e

@uro Kone. /,e glo(al econo#y grew (y 3.'L in 2*11 against 5.3L in 2*1* and

e$ected to furt,er fall to 3.5L in 2*12 as $er t,e International onetary Funds :IF;

0$ril2*12 u$date of t,e Eorld @cono#ic Outlook :E@O;. ?ross do#estic $roduct

:?P; growt, in advanced econo#ies declined to 1.! L in 2*11 co#$ared to 3.2 L in

2*1* and again e$ected to fall to 1.4L in 2*12. i#ilar trend is seen in e#erging

econo#ies as t,ey slowed to !.2L in 2*11 co#$ared to ".5 L in 2*1* and likely to fall to

5."L in 2*12.

DO$ESTIC ECONO$"

Indian @cono#y in 2*11<12 was surrounded (y concerns of ,ig, inflation (ourgeoning

fiscal deficit and $ronouncing current account deficit. /,e @cono#ic growt, #oderated

to!.5L as $er revised esti#ates of +O against %.4L seen in 2*1*<11. /,e growt, ,as

(een disa$$ointing on account of current uncertain glo(al conditions and one of t,e worst

$erfor#ances in do#estic industrial sector.

0ll t,e t,ree sectors vi>. agriculture industry and services slowed down in 2*11<

12.0griculture and allied agriculture growt, fell to 2.%L against a ,ig, ac,ieve#ent of

"L in2*1*<11 des$ite a record food grain $roduction of 25* #illion tons in 2*11<

12./,econtri(ution of agriculture and allied activities to ?P is only 14L (ut slow<down

in agriculture growt, ,as severe i#$act on t,e e#$loy#ent in t,is sector t,at ,as a s,are

in e#$loy#ent as ,ig, as 55L. /,e growt, in services sector including construction

sector is esti#ated to grow at %.5 L in 2*11<12 as against '.2L in 2*1*<11 reflecting t,e

down<turn in construction growt,.



/,is is on account of slow recovery in t,e and @uro$e and due to tig,t #onetary

$olicy affecting t,e overall investors confidence. /,e #ont,<wise growt, inIIP e,i(ited

,ig, volatility on account of fluctuation in growt, of ca$ital goods. /,e growt, in ca$ital

goods declined fro# 3"L in une 2*11 to negative 25L in Octo(er 2*11./,e growt, in

Inde of eig,t core industries vi>. +oal +rude oil 6atural gas etc.contri(uting 3%L to

t,e IIP ,as also fell to 4.3L during 0$ril<arc, 2*11<12 co#$ared to!.!L during t,e

corres$onding $eriod of t,e $revious year. On eternal front t,e #erc,andise e$orts in

2*11<12 ,as increased (y 21L a#ounting toM3*4 (illion t,ere(y sur$assing t,e

indicative target of M3** (illion set for t,e year. /,e i#$orts ,owever too increased (y

32L a#ounting to M4%% (illion resulting in trade deficit of M1%4 (illion. /,is ,as

widened current account deficit :+0; to M 53."(illion :4.*L of ?P; fro# M 3'.!

(illion :3.3 L of ?P; in 0$ril<ece#(er 2*1*.

/,e &u$ee against dollar ,as fallen s,ar$ly during t,e year. In (eginning of t,e financial

year t,e ec,ange rate was at &s. 44.3" NM fell to &s. 52.!%NM in ece#(er11rose

#oderately to &s.51."! NM in arc,12. /,is ,as (een $ri#arily (ecause of t,e large

current account deficit and (alance of $ay#ents deficit.



25 AUTO$ATED TELLER $AC!INE :AT$;

0uto#ated /eller ac,ine is a #ec,anis# w,ic, ena(les t,e custo#er to wit,draw

#oney fro# ,is account wit,out visiting t,e (ank (ranc,. 0n 0/ card is issued to t,e

custo#er (y t,e (ank in order to #ake cas, wit,drawals at cas, #ac,ine. /,is service

,el$s t,e 0/ custo#er to wit,draw #oney even w,en t,e (anks are closed. /,is can (e

done (y inserting t,e card in t,e 0/ and entering t,e Personal Identification 6u#(er -

secret $assword.

0/s act as off<site (ranc,es of (anks and $rovide al#ost all services t,at are availa(le

fro# a #anually o$erated (ranc,. /,e custo#er can not only wit,draw cas, (ut also

de$osit #oney get account state#ents ena(le transfer of funds etc. /,e custo#er w,o

wants to de$osit cas, s,ould $ut t,e notes in t,e $ouc, availa(le at t,e 0/ counter

close it seal it (y signing - $ut it in t,e slot $rovided for t,is $ur$ose. /,e (ank staff

will collect t,e $acket w,en t,ey co#e for loading cas, in t,e #ac,ine - credit t,e

a#ount to t,e account. However t,e custo#er ,as to sign an undertaking wit, t,e (ank

t,at ,e would not dis$ute on t,e a#ount credited. 0/ ,as gained $ro#inence as a

delivery c,annel for (anking transactions in India. 6ow custo#ers will not (e levied any

fee on cas, wit,drawals using 0/ - de(it cards issued (y ot,er (anks. /,is will in turn

increase usage of 0/s in India. 0/ allows custo#ers8

• /o view account infor#ation

• /o de$osit c,e7ues or cas,

• /o order c,e7ues and receive cas,.



VARIOUS PRODUCTS < SERVICES OF BANKS

31 D*'&%&

Banks $rovide various de$osit sc,e#es for kee$ing t,e savings of $eo$le. o#e of t,ese

sc,e#es are co##on in nature. Banks ,ave to co#$ly wit, t,e 9Cnow our +usto#er

:C+; nor#s introduced (y t,e &eserve Bank of India w,ile o$ening - allowing

o$erations in t,e accounts. 0 few de$osit sc,e#es offered (y (anks are as follows8

C!ART# T"PES OF DEPOSITS



1; C,,*( A--'(#

+urrent account is $ri#arily #eant for (usiness#en fir#s co#$anies and $u(lic

enter$rises etc. t,at ,ave nu#erous daily (anking transactions. Individuals

generally do not o$en t,is account. +urrent accounts are #eant neit,er for t,e

$ur$ose of earning interest nor for t,e $ur$ose of savings (ut only for

convenience of (usiness ,ence t,ey are non<interest (earing accounts. In a current

account a custo#er can de$osit - wit,draw any a#ount of #oney any nu#(er of

ti#es as long as ,e ,as funds to ,is credit.

0s $er &BI directive (anks are not allowed to $ay any interest on t,e (alances

#aintained in +urrent 0ccounts. However in case of deat, of t,e account ,older

,is legal ,eirs are $aid interest at t,e rates a$$lica(le to avings (ank de$osit

fro# t,e date of deat, till t,e date of settle#ent. Because of t,e large nu#(er of



transactions in t,e account and volatile nature of (alances #aintained (anks

usually levy certain service c,arges for o$ening a +urrent 0ccount.

2; F%=* D*'&%&#

Bank Fied e$osits are also known as /er# e$osits. In a Fied e$osit

0ccount a certain su# of #oney is de$osited in t,e (ank for a s$ecified ti#e

$eriod wit, a fied rate of interest. /,e rate of interest for Bank Fied e$osits

de$ends on t,e #aturity $eriod. It is ,ig,er in case of longer #aturity $eriod.

/,ere is great flei(ility in #aturity $eriod - it ranges fro# 15 days to 5 years.

/,e interest can (e co#$ounded 7uarterly ,alf<yearly or annually and varies fro#

(ank to (ank. oan facility is availa(le against (ank fied de$osits u$to "5<'* L

Pre#ature wit,drawal is $er#issi(le (ut it involves loss of interest.

Fied de$osits wit, (anks are nearly 1**L safe as all t,e (anks o$erating in t,e

country irres$ective of w,et,er t,ey are nationali>ed $rivate or foreign are

governed (y t,e &BIs rules - regulations and give due weig,tage to t,e interest

of t,e investors.

3; S+%(/& B+(> A--'(#

avings Bank accounts are #eant to $ro#ote t,e ,a(it of saving a#ong t,e

citi>ens w,ile allowing t,e# to use t,eir funds w,en re7uired. /,e #ain

advantage of avings Bank 0ccount is its ,ig, li7uidity and safety. avings Bank

0ccount earn #oderate interest. /,e rate of interest is decided and $eriodically

reviewed (y t,e govern#ent of India. avings Bank 0ccount can (e o$ened in t,e

na#e of an individual or in )oint na#e of t,e de$ositors.

/,e #ini#u# (alance to (e #aintained in an ordinary savings (ank account

varies fro# (ank to (ank. It is less in case of $u(lic sector (anks and

co#$aratively ,ig,er in case of $rivate (anks. avings Bank 0ccount can now (e

accessed t,roug, 0/s - internet.



32 CREDIT CARDS#

+redit cards are innovative ones in t,e line of financial services offered (y co##ercial

(anks. +redit card culture is a old ,at in t,e western countries. In India it is relatively a

new conce$t t,at is fast catc,ing on. ince t,e $lastic #oney ,as today (eco#e as good

as legal tender #ore $eo$le are using t,e# in t,eir day<to<day activities. 0 credit card is a

card or #ec,anis# w,ic, ena(les card,olders to $urc,ase goods travel and dine in a

,otel wit,out #aking i##ediate $ay#ents. It is a convenience of etended credit wit,out

for#ality. +redit cards can (e classified as follows8

C!ART# T"PES OF CREDIT CARDS

&

INNOVATIVE FINANCIAL PRODUCTS AND SERVICES

1; $*,-.+( B+(>%(/#

O +&@I/ +0& 6@E +&@I/ +0&



0 #erc,ant (anker is a financial inter#ediary w,o ,el$s to transfer ca$ital fro#

t,ose w,o $ossess it to t,ose w,o need it. erc,ant (anking includes a wide range

of activities suc, as #anage#ent of custo#er securities $ortfolio #anage#ent

$ro)ect counseling and a$$raisal underwriting of s,ares and de(entures loan

syndication acting as (anker for t,e refund orders ,andling interest and dividend

warrants etc. /,us a #erc,ant (anker renders a ,ost of services to cor$orate and

t,us $ro#otes industrial develo$#ent in t,e country.

2; L'+( S(%-+%'(#

/,is is #ore or less si#ilar to 9consortiu# financing. But t,is work is taken u$ (y

t,e #erc,ant (anker as a lead #anager. It refers to a loan arranged (y a (ank called

lead #anager for a (orrower w,o is usually a large cor$orate custo#er or a

?overn#ent e$art#ent. /,e ot,er (anks w,o are willing to lend can $artici$ate

in t,e loan (y contri(uting an a#ount suita(le to t,eir own lending $olicies. ince

a single (ank cannot $rovide suc, a ,uge su# of loan a nu#(er of (anks )oin

toget,er and for# a syndicate.

3; L*+&%(/#

0 lease is an agree#ent w,ic, a co#$any or a fir# ac7uires a rig,t to #ake use of

ca$ital asset like #ac,inery on $ay#ent of a $rescri(ed fee called rental

c,arges. /,e lessee cannot ac7uire any owners,i$ to t,e asset (ut ,e can use it

and ,ave full control over it. He is e$ected to $ay for all #aintenance c,arges and

re$airing and o$erating cost. In countries like t,e ..0. t,e .C. and a$an

e7ui$#ent leasing is very $o$ular and nearly 25L of $lant and e7ui$#ent is (eing

financed (y leasing co#$anies. In India also #any financial co#$anies ,ave

started e7ui$#ent leasing (usiness (y for#ing su(sidiary co#$anies.



DATA ANAL"SIS AND INTERPRETATION

?1; A@+,*(*&& ' *'* ,*/+,%(/ +,%'& *& ' %(+(-%+ &*,%-*& ,'%*

.* +(>&

I(*,,*+%'(

Fro# t,e a(ove c,art we ca#e to know t,at overall $ercentage of service class $eo$le

,aving co#$lete knowledge a(out different ty$es of services $rovided (y t,e (ank is

3"L t,ose ,aving so#e idea a(out it is 4!L and t,e $ercentage of $eo$le ,aving no

awareness of various services $rovided (y t,e (ank is 1"L. It can reasona(ly (e

concluded t,at nearly %5L of t,e $o$ulation is ,aving awareness a(out newly introduced

services.



?2 A@+,*(*&& ' +,%'& +(>%(/ &*,%-*& ,'%* +(>&

I(*,,*+%'(

Banks constitute various c,annels t,roug, w,ic, services are $rovided in ter#s of 0/s

e(it +ard +redit +ard P,one Banking o(ile Banking Internet Banking etc of w,ic,

t,e first si ,ave (een covered. 0#ongst t,ese 0/ scores t,e largest used service status

:2!.*3L; as indicated (y a(ove figures. +lose on t,e ,eels is e(it card :1"."5L; +redit

card :14."'L; w,ile $,one (anking lags (e,ind (y scoring t,e least :11.%3 L.;



? 3; S',-*& ,' @.%-. .* ,*&'(*(& /* .* >('@*/* +' .* %(('+%*

%(+(-%+ &*,%-*&

I(*,,*+%'(

/,e a(ove ta(le indicates t,e $ercentage distri(ution of awareness avenues t,e #a)or

are in favour of advertise#ents w,ic, score 34L a#ong different avenues suc, as

$ersonal visit eecutives of t,e (anks advertise#ents and friendNrelatives. E,ile t,e

least score is for $ersonal visit and t,at of ot,er sources.



?4; I& ', B+(> ''@%(/ .* K('@ "', C&'*, :K"C; (',& %( ,'%%(/

&*,%-*&

I(*,,*+%'(

/,e a(ove ta(le indicates t,e C+ nor#s followed (y t,e (anks. /,e (anks are $roviding t,e custo#er wit, $ro$er infor#ation a(out various (anking services.

/,e (anks are trying to find t,e e$ected service of t,e custo#er.



?5; G,'@. ,+* ' -,*% -+,&

I(*,,*+%'(

/,e a(ove ta(le indicates t,e growt, rate of credit cards w,ic, scores *.3

#illion in t,e year 2**% and it ,as grown u$to *.! #illion in 2**'./,e growt,

rate is 1**L. /,is indicates t,at t,e distri(ution of credit cards is on large scale.

/,e +@6/&0 B06C OF Bank is considered as largest issuer of credit cards.



CONCLUSION

/,e $ro)ect of Financial ervices of Banks was undertaken at +entral Bank of India

Eorking under t,is $ro)ect I learned various services in detail w,ic, (anks generally

follow.

It also ,el$ed in gaining knowledge a(out different conce$ts $rovided under different

services .

/,e Financial ervices of t,e Banks ,as (eco#e very vital in t,e s#oot, o$eration of t,e

(anking activities. /,e Pro)ect work ,as certainly enric,ed t,e knowledge a(out t,e

effective #anage#ent of t,e various services in Banking ector.

astly as according to data collection we conclude t,at given findings and suggestions

need to (e considered w,ic, can $rove to (e effective to t,e Banks.



SUGGESTIONS

Prevention against frauds of +redit +ards

/o take necessary action against defaulters

Providing wit, $ro$er infor#ation relating to various services

?uidance for invest#ent in various securities in order to $rotect t,e interest of

investors.

0$$roac,ing t,e custo#ers for invest#ent in innovative financial services.

$ecial sc,e#es to (e $rovided on so#e ty$es of services



BIBLIOGRAP!"

BOOKS#

Financial ervices - yste#s

< C.C. asid,aran

< 0le at,ews

Financial arkets - ervices

< ?ordon

< 6atara)an

W* S%*&#

www.wiki$edia.co#

www.+entral Bank of (ank.co#

www.google.co#

www.ask.co#

http://www.wikipedia.com/

http://www.icici/

http://www.google.com/

http://www.wikipedia.com/

http://www.icici/

http://www.google.com/



ANNEXURE

1; E,ic, ty$e of financial services are offered (y Banks

2; E,ic, ty$es of +redit +ards are $rovided to t,e custo#ers

3; E,at kind of actions are taken (y t,e (anks against defaulters

4; Is t,e (ank following &BI guidelines fro# ti#e to ti#e

5; E,at are t,e ste$s taken (y t,e (ank to settle t,e clai#s

!; E,ic, ty$e of innovative financial services are $rovided (y t,e (ank after P?

"; 0re t,e new custo#ers attracted (y t,e $,ysical environ#ent of t,e (ank

%; E,at are t,e future $lans of t,e (ank

united bank of india

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