Types of Banking in India
1. Para banking - When Bank provides other banking activities apart from its general banking activities (Deposits and withdrawls)
Services under Para banking :-
Debit Card
Credit Card
Bancassurance
Life Insurance Products
Cash management
Non life Insurance products and etc
2. Narrow Banking - Narrow Banking is also called Safe banking form a bank point of view. When banks invest their fund in government securities instead of investing in market to avoid risk.
3. Overseas Banking – Domestic Banks having branches in other countries besides its origin country . Example SBI, Bank of Baroda has maximum foreign branches by any Indian bank.
4. Offshore Banking – Those banks which are located outside the country of residence of the depositors and provide little or no taxation facility to their customers. A Bank which accepts currency of all countries. Offshore banks are in those Countries which declare them as Heaven Bank Country for ex Swiss Banks.
5. Green banking - Promoting environmental-friendly practices and reducing carbon footprint from your banking activities. This comes in many forms. Using online banking instead of branch banking. Paying bills online instead of mailing them. Opening up CDs and money market accounts at online banks, instead of large multi branch banks.
6. Corporate Banking - Cooperative banking typically serves the financial needs of large corporate houses- both domestic and multinational-public sectors and governments. Corporate banking services include Working capital and terms loans, overdrafts, bill discounting, project financing, Cash management both short term holdings of cash as well as funds held for longer periods, Financing of exports and imports including export credit arrangements.
7. Islamic bank - Those Banks which work according to Islamic Laws. Concept originates in Egypt. Islamic bank opens at Cochin in Kerala in 2010.
8. Kiosk Banking - When we Deposit or withdraw money from booth for ex ATM, ATM Deposit or withdraw Machine, it is called Kiosk banking. It is self-service solutions, allowing customers to service themselves with computer based touchscreen and making different sort of transactions.
9. Defence Banking - Full banking services made available to all members of the Defence force, including non-uniformed personnel and other civilians.
10. Retail Banking - Retail banking refers to the division of a bank that deals directly with retail Customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public.
11. Banking on Wheel - To provide basic banking services to the remote unbanked villages in the states. It is the part of financial inclusion plan.
Objectives Banking on Wheel :-
The branch would be operated on a van. It will be stationed at specific timings of the day in pre - identified, unbanked villages at specified locations.
Would be equipped with a GPS tracking system, laptops with 3G connections, LED TV, a safe, a printer, public announcement system, an UV Lamp that detects forged cheques, a note counting-cum-authentication machine that identifies fake currency notes and a unique low- weight ATM.
Offers a wide range of banking products and services viz. savings accounts, loans, cash deposit/withdrawal, account balance enquiries, statement printing and funds transfer/DD/PO collections, among others.
12. Merchant banking – Merchant banking refers to specialisation in financing and promotion of projects, investment management and advisory services.
13. Wholesale banking -Wholesale banking is the banking which offers loans and advances to organisations such as Mortgage Brokers, large corporate clients, mid-sized companies, real estate developers and Investors, international trade finance businesses, institutional customers (such as pension funds and Government entities/agencies), and services offered to other banks or other financial institution and they generally deals in bulk sizes loans.
1. Para banking - When Bank provides other banking activities apart from its general banking activities (Deposits and withdrawls)
Services under Para banking :-
Debit Card
Credit Card
Bancassurance
Life Insurance Products
Cash management
Non life Insurance products and etc
2. Narrow Banking - Narrow Banking is also called Safe banking form a bank point of view. When banks invest their fund in government securities instead of investing in market to avoid risk.
3. Overseas Banking – Domestic Banks having branches in other countries besides its origin country . Example SBI, Bank of Baroda has maximum foreign branches by any Indian bank.
4. Offshore Banking – Those banks which are located outside the country of residence of the depositors and provide little or no taxation facility to their customers. A Bank which accepts currency of all countries. Offshore banks are in those Countries which declare them as Heaven Bank Country for ex Swiss Banks.
5. Green banking - Promoting environmental-friendly practices and reducing carbon footprint from your banking activities. This comes in many forms. Using online banking instead of branch banking. Paying bills online instead of mailing them. Opening up CDs and money market accounts at online banks, instead of large multi branch banks.
6. Corporate Banking - Cooperative banking typically serves the financial needs of large corporate houses- both domestic and multinational-public sectors and governments. Corporate banking services include Working capital and terms loans, overdrafts, bill discounting, project financing, Cash management both short term holdings of cash as well as funds held for longer periods, Financing of exports and imports including export credit arrangements.
7. Islamic bank - Those Banks which work according to Islamic Laws. Concept originates in Egypt. Islamic bank opens at Cochin in Kerala in 2010.
8. Kiosk Banking - When we Deposit or withdraw money from booth for ex ATM, ATM Deposit or withdraw Machine, it is called Kiosk banking. It is self-service solutions, allowing customers to service themselves with computer based touchscreen and making different sort of transactions.
9. Defence Banking - Full banking services made available to all members of the Defence force, including non-uniformed personnel and other civilians.
10. Retail Banking - Retail banking refers to the division of a bank that deals directly with retail Customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public.
11. Banking on Wheel - To provide basic banking services to the remote unbanked villages in the states. It is the part of financial inclusion plan.
Objectives Banking on Wheel :-
The branch would be operated on a van. It will be stationed at specific timings of the day in pre - identified, unbanked villages at specified locations.
Would be equipped with a GPS tracking system, laptops with 3G connections, LED TV, a safe, a printer, public announcement system, an UV Lamp that detects forged cheques, a note counting-cum-authentication machine that identifies fake currency notes and a unique low- weight ATM.
Offers a wide range of banking products and services viz. savings accounts, loans, cash deposit/withdrawal, account balance enquiries, statement printing and funds transfer/DD/PO collections, among others.
12. Merchant banking – Merchant banking refers to specialisation in financing and promotion of projects, investment management and advisory services.
13. Wholesale banking -Wholesale banking is the banking which offers loans and advances to organisations such as Mortgage Brokers, large corporate clients, mid-sized companies, real estate developers and Investors, international trade finance businesses, institutional customers (such as pension funds and Government entities/agencies), and services offered to other banks or other financial institution and they generally deals in bulk sizes loans.
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