Prepared by Chinchu.

 The

Indian banking industry has its foundations in the 18th century. The initial banks in India were primarily traders banks engaged only in financing activities. Major strides towards public ownership and accountability were made with nationalization in 1969 and 1980 which transformed the face of banking in India. Recognized the importance of private and foreign players in a competitive scenario and has moved towards greater liberalization.

 Banking

services which are offered only to government agencies, pension funds, other institutional customers and to corporations with strong balance sheets and sound income statements. services include cash management, fleet and equipment leasing, large-sum loans, loan participation, merchant banking, and trust services.

These

 Opening

of Account Issue of Check book International Debit / Credit Card Issue of Demand Draft (DD) e-mail statement Phone banking Insta Query Insta Alert Bill pay Passbook Loan Facility

Retail banking is typical mass-market banking where individual customers use local branches of larger commercial banks.
The types of retail banks are: Commercial Bank Postal savings Bank Private Bank Offshore Bank Building societies Mortgage Bank Islamic Bank

 Saving

Bank accounts Fixed Deposit schemes Current Accounts Automated Teller Machines Internet Banking Services De-mat Services Inter Branch Banking Bill Pay Safe Deposit Lockers Debit Cards, Credit Cards Easy Loan

 All

round increase in economic activity in the purchasing power.

Increase More

than 90% of the savings come from the household sector. Now People Want To Save Less And Spend More. family concept is gaining much importance which may lead to large savings, large number of banking services to be provided are day-by-day increasing.

Nuclear

Tax

benefits are available