Tuesday, June 16, 2015

CAIIB-RETAIL BANKING-UNIT 9 REMITTANCE PRODUCTS


UNIT 9 REMITTANCE PRODUCTS

 

v  The parties to a funds transfer under NEFT System are

the sending bank,

the sending Service Centre,

the NEFT Clearing Centre,

the receiving Service Centre and

the beneficiary branch.

v  NEFT messages generated for destination banks will be transmitted to the service centre of each receiving banks using SFMS.

v  In case of a holiday at the beneficiary branch, the credit will have to be effected on a value dated basis wherever feasible or latest at the commencement of business on the next working day.

v  Customers can complain to the Banking Ombudsman if the complaint is not resolved within thirty days.

v  As per  Payment System Bill, 2002, a 'payment system' means "a system that enables payment to be effected between a payer and a beneficiary and includes clearing, settlement or payment service".

v  In RTGS The remittances are credited on a dynamic basis and settlement also made on a dynamic basis

v  In "Customer Payment Transaction", customer information along with the payment message can be transmitted in a structured format.

v  Electronic Clearing Services (ECS) is a mechanism to effect payments to a desired beneficiary on a periodical basis for the monies payable to them.

CAIIB-RETAIL BANKING-UNIT 8 CREDIT AND DEBIT CARDS


UNIT 8 CREDIT AND DEBIT CARDS
 
v  Credit Cards had their origin right from 1800s.
v  The first universal credit card that could be used at a variety of stores and businesses — was introduced by Diner's Club Inc., in 1950.
v  Citibank and HSBC were the pioneers in the Indian credit card market in the 1980s
v  Among the public sector banks, Andhra Bank, Bank of Baroda were the early starters followed by Bank of India.
v  The minimum qualifying Credit Card score is fixed as 50 by the public sector Bank.
 

CAIIB-RETAIL BANKING-UNIT 7 IMPORTANT RETAIL ASSET PRODUCTS


UNIT 7 IMPORTANT RETAIL ASSET PRODUCTS

v India has got the biggest advantage as regards to population and comprises of a good percentage of youth and this advantage is called “Demographic Dividend”.

v Stand alone model for retail loan processing refers to processing of retail loans independently at the branch level.

v Centralised Model for retail loans processing refers to processing of loans at a centralised place depending upon the geography of branches.