Chapter:-5 Internet Banking- State of art technology

Chapter-5

Outline of the Chapter Page

No.

5.1 Internet banking:- State-of-Art-Technology 195

5.2 High tech banking technological services 195

5.3 The Identities of Indian Bank- Taglines 197

5.4 Future innovative services of the bank 198

5.5 Credit rating of CIBIL and CERSAI for bank 202

5.6 Banking Supervision Committee 203

5.7 Information Technology Act 2000 for Bank 205

5.8 Innovations in banks in terms of services 206

5.9 Service innovation of banks 207

5.10 Conclusion 263

Reference 264

Internet banking- State of art technology

METHODOLOGY

194

A technological change is an imperative change to boost entire

banking industry in India. Information technology will have to play

significant role in the growth of the banking industry, the 21st century is full

of competition, and at the present level bank has to decide many changes to

stay in the market. The banking industry has started a VRS scheme for

increased per capital income and to achieve a higher standard of growth.

Information technology is a rising need of all financial sector. However,

Indian banking industry is facing many problems of frauds, phishing and

crimes under computer-aided banking. The first blueprint of computerisation

in banking was drawn by Dr. C. Rangrajan in 1983. The committee

submitted his report in 1984 and recommended computerization at branch,

regional, zone and head office of the banks.

The Bank of Baroda has accepted State of the art technology for

giving a boost to sales growth by enhancing customer satisfaction and by

making possible alternate channel migration, thus reinventing itself to

challenges of the 21st century. All the bank's Metro branches / urban

branches have been converted to "Baroda-Next" branches, providing a

pleasant branch banking experience for the customer.

In this regard, the researcher has tried to provide information about

high tech banking services, future innovative services of the bank, major

highlightes of credit ratings of CIBIL and CERSAI for bank, information

technology act 2000 for bank.

195

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5.1 Internet banking:- State-of-Art-Technology

The earliest usage of the term “State of the art” documented by the

Oxford English Dictionary dates back to 1910 from an engineering manual

by H.H. Suplee titled Gas Turbine it reads1. In the present state of the art this

is all that can be done.

The state of the art is the highest level of development, as of a device,

technique, or scientific field achieved at a particular time. It also applies to

the level of development as of a device, procedure, process, technique, or

science reached at any particular time usually as a result of modern methods.

Indian bank accepts State of the art technology and provide his best service

level to his customers as reliable and any time anywhere service. Bank of

Baroda has accepted State of the art technology for giving a boost to sales

growth by enhancing customer satisfaction. Bank of Baroda has worked in

three dimensions like state of the art infrastructure, state of the art

technology adoption and state of the art products.

5.2 High-tech Banking technological service-

The high tech technology used by the banks are given below.

1. A network of regional data warehouses credit information bureau

2. Advanced Lager Posting machines (ALPMs)

3. Answering bank –Voice response banking

4. Automated clearing house operations

5. Cash Dispenser for ATMs

6. Chat relay system (ICR)

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7. Cheque clearing using magnetic ink character recognition

(MICR) technology

8. Computerized message transfer (COMET)

9. Core banking solution (CBS)

10. Credit and debit card

11. Digital signature – Virtual sign

12. Electronic clearing services (ECS)

13. EFTPOST- Electronic fund transfer point of scale

14. Electric fund transfer (EFT)

15. Electronic data interchange (EDI)

16. Electronic mail messages

17. Facsimile ( FAX)

18. HVNET-High speed VSAT network

19. IDBRTs Multi application smart card based payment system

20. IDBRTs National financial switch (NFS)

21. IDBRTs structured financial messaging services

22. Indian financial network (INFINET)

23. INTELAST-international telecom satellite consortium

24. MMS webmail

25. National Settlement system (NSS)

26. NICNET- District based information system

27. On-line indirect tax Accounting system (OLITAS)

28. Online tax Accounting system (OLTAS)

29. Packet switched public data network (INET)

30. Plastic card- Laser cards- smart cards- e-Purse

31. Real time gross settlement system (RTGS)

32. Regional grid clearing collection of outstation check

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33. Retail payment system (RPS)

34. Satellite microwave

35. Shared payment network system (SPNs) (Swadhan) of Indian

banking association (IBA)

36. Small office home office banking

37. Smartquill Computer pen

38. Society for worldwide inter bank financial telecommunication

(SWIFT)

39. Special electronic funds transfer (SEFT)

40. Teleconferencing

41. Terrestrial microwave radio transmission

42. Transponder

43. Total Branch automation (TBA)

44. Very small aperture terminal for bank net (VSAT)

45. Videophone

5.3 The Identities of Indian Bank- Taglines

A tagline is a slogan which succinctly, memorably, and descriptively

sums up a Bank or companies’ product. Taglines reflect whole identities of

business entities. A well-organized tag lined can endure consumers’ minds.

As a wide range of banking industries used taglines as marketing approach,

here some of the public and private sectors banks taglines is given below.

Tagline of Public sector banks

1. State bank of India - The Nations Bank on us

2. Punjab National Bank - The Name you can Bank upon

3. Bank of Baroda - India’s International Bank

4. Canada Bank - We are changing for you

5. Union Bank of India - Good people to bank with

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6. Bank of India - Relationship beyond banking

7. Indian Bank -Taking banking technology to the common man

8. Allahabad Bank - A tradition of trust

9. Corporation Bank - Prosperity for All

10. Oriental Bank of Commerce -Where every individual is committed

Tagline of Private sector bank

1. ICICI Bank - Hum hai na

2. HDFC Bank - We understand your world

3. Axis Bank - Everything is the same except the name.

4. Kotak Mahindra Bank - Lets make money simple

5. Jammu & Kashmir Bank - Serving to Empower

6. Yes Bank - Experience our expertise

7. Federal bank of India - Your perfect banking partner

8. Karur Vyasa Bank Ltd - Smart way to bank

9. Indusind Bank Ltd - We Make You Feel Richer.

10. ING Vyasa bank Ltd - Jiyo easy

5.4 Future Innovative services of the bank

Across the developing world, new technologies are helping to bank to

distribute better services for a customer. Banks always try to provide fast,

reliable and secure services to the customers for the future perspective. Now

a days, its technology era, the futuristic innovative service of the banks are

given below.

1. Wells Fargo’s- personalised ATS

US bank Wells Fargo has launched an updated version of the ATM

interface to provide customers a more personalized experience. The

ATM machines' screens customized on the base of users' preferences.

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ATM machines show most used interface on screen board like Balance

Dashboard and ATM Cash Tracker. The Well Fargo introduced more

than 500 ATMs across the several states.

Alicia Moore, head Wells Fargo-ATM banking Wells Fargo, says,

“We redesigned our ATMs based on what customers tell us they want,

and we're constantly striving to make our ATMs quicker, easier, and

more convenient”.2

2. Barclays bank Wi-Fi branches

Barclays Bank and BT Global services have introduced free Wi-Fi for

customers in its 1500 branches3. The Barclays bank says that

customers used any wireless gadgets like PD, Tablets and mobile to

connect to the internet. Ashok Vaswani, CEO, retail and business

banking, Barclays, says that "We are always keen to show our

customers how easy our mobile apps are to use, so we are now rolling

out free Wi-Fi across our Barclays branches, and our front line staff

say this will help them give product demos using our customers own

mobiles and tablets. We hope by providing this free service our

customers will be able to instantly download and use all our mobile

apps, and we are on hand to show them how”4.

Luis Alvarez, CEO of BT Global Services says that "It's no secret that

banks are facing some of the toughest challenges of any sector, so it's

great to see forward thinking companies like Barclays prioritising their

investments, so they can deliver great service for their customers as

well as the bottom line5.”

3. ME Bank- Mini branches

Australia's ME Bank has opened its mini branch - complete within an

ATM, video conferencing and online services. The five meter square

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workplace banking kiosk is designed to provide customer services but

the personal services not available through digital segments. The bank

has signed Telstra as its first real world customer, with a little tiny

branch started at a Melbourne call centre6.

Ian Hendey, group executive, sales, ME Bank, says: "The Kiosks

combine face-to-face and digital banking and address the difficulty

many people have been finding time to go to their bank...Customers

continue to seek personal contact with a banker, critical for making

important financial decisions."7

4. Bitcoin Tiper-Tweet virtual currency

Bitcon Tipper has launched a service that provided users to send the virtual

currency to friends through Twitter. Users to sign up, account and follow

the @bitcointipper account. The service will started through message, when

the person deposits currency to bitcoin address. Users can send the virtual

currency to anyone with a Twitter account by messaging them.8

5. Royal Bank of Scotland rolls out 'Ideas Bank'

Royal Bank of Scotland has launched an online portal named ‘Ideas

Bank’. Customers visiting the site to post their own ideas for how the

bank will improve its services. The site shows the most popular ideas

and top four topics over the previous 30 days. The bank provides an

update on ideas taken forward for boasting the roll out of a mobile app

for window pane. The RBS bank launch of a new customer support

center for digital banking and improved credit card facilities. The RBS

bank followed footsteps of trend setting banks as Australia’s

Commonwealth Bank, which launched Idea Bank site in late 2011.9

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6. PayPal launched Point-of-scale device for iPad

PayPal's launch of the company’s first native apps for the IP ad,

pitched at a small retailer that want to use the tablet as a point of scale

devices. This app offers the ability to scan barcodes and wirelessly

connect to a cash drawer and printer. Daily summary report tracked by

the company. In the UK, PayPal claims to have registered almost 11,000

small businesses for its forthcoming Chip and PIN reader, which was

showcased at Mobile World Congress in Barcelona 2013.10

7. Unicredit –Biometric payment system

"We innovate in order to compete and grow"- Federico GhizzoniItalian

bank UniCredit has launched a new biometric payment system that

uses infrared sensors at the Point-of-scale terminal to recognize the

geometry of the veins in the palm of the user's hand. The 'Papillon'

payment system, which uses palm scanning technology from Fujitsu -

was developed by the UniCredit. The Papillon payment system

connected Point-of-scale device store the code and matches customers

pre registered palm print.

Federico Ghizzoni, CEO of UniCredit said that "This is why we've

been working on a new way of banking, investing resources in

development and advanced solutions that are capable of creating new

products and services. The new R&D team started with new ideas,

building prototypes based on the most advanced technology, in order

to creatively provide added value to our customers, colleagues and

network".11

8. Spain's Bankinter- NFC (Near Field Communication) payments

Spain's Bankinter is prepping a contactless mobile payment service.

Bankinter customers will be downloaded as apps their NFC (Near

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Field Communication) enabled phone and register products on the

bank's website, start making payment within a minute. The service

developed by Visa Europe, Net1 UEPS and Seglan.

Jacobo Díaz, director, innovation, products, markets and quality,

Bankinter, says: "The Mobile Virtual Card solution eliminates the

main difficulties that today are slowing the commercial launch of NFC

payments and make it in compatibility with the standards of the

financial industry, helping to avoid market fragmentation that in no

way benefits the final consumer."12

9. Swedish iZettle-Mobile phone turns into payment terminals

Swedish started iZettle, which has provided upgrade technology that

turns your mobile into payment terminals. The iZettle app and card

reader works with iPhones, IPads and Android devices. The dongles

will be available in the market at EE’s 297 stores in £20.

The iZettle device is EMV (Euro pay, Mastercard and Visa) approved

and works with a 'chip and signature' basis on the phone. Jacob de

Geer, CEO of iZettle says that "The beauty of iZettle is that it's simple

to use, totally secure and takes seconds for transactions. Whether you

are a cabbie, florist, tradesperson or a courier, iZettle gives you the

flexibility to operate in both cash and cards."13

5.5 Credit rating of CIBIL and CERSAI for bank

The Central Registry of Securitization Asset Reconstruction and

Security Interest of India (CERSAI), the company is a government Company

with a shareholding of 51% by the central government and select public

sector sanks and the national housing bank are also shareholders of the

Company. CIBIL and CERSAI signed an MOU, both organizations work

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closely to offer greater value and comprehensive access to credit and

mortgage information to credit institutions and consumers14. CIBIL and

CERSAI have played a vital role in Indian retail banking like,

CIBIL is the trusted partner providing a natural service of every

credit grantor in India.

The code of conduct, principles and rules governing the

relationship between CIBIL and its members.

CIBIL provides services only on a need to know basis to the

member.

Credit information reports help to reduce Nonperforming assets.

CIBILs facilitates a transparent assessment of the borrower's

application.

5.6 Bank supervision committee

The Indian financial system is expected to further grow not only in

size but also in complexity in the years to come. These supervisory

responsibilities will require an expansion in the scope of regulations.

Further, new regulatory and supervisory benchmarks such as Basel III,

supervision of financial conglomerates and recovery and resolution plans for

systemically important entities would require more robust and capable

supervisory processes. In this context, the High Level Steering Committee

for Review of Supervisory Processes of Commercial Banks in India, chaired

by Dr. KC Chakrabarty, Deputy Governor, RBI has submitted a report in

June 2012.

Some of the emerging trends are:

There will be an increased reliance on off-site supervision rather

than on-site supervision.

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Periodicity of on-site supervisory examination/reviews will be

determined by the risk that an entity poses for the financial system

rather than the size of its business.

Besides the protection of depositors’ interests, promotion of

financial stability and customers’ protection would become the

primary objective of the RBI’s supervisory process.

Consolidated supervision of large and complex banking groups is

likely to gain prominence to provide a holistic view of the risk

posed by an entity. The concept of a ‘Supervisory Relationship

Manager’ is likely to be promoted to ensure efficient and effective

communication between the supervisor and the supervised entities

and to aid the consolidated supervision process.

There is likely to be a mechanism for structured exchange of

information and cooperation amongst the sectoral supervisors to

facilitate flow of information and have a coordinated approach

towards entities operating in various financial services businesses

in India.

Risk-based supervision of commercial banks in India is expected

to help the regulator to optimize limited supervisory resources and

meet emerging challenges.

Reduced manual intervention in the process of submitting

information by banks to the RBI.

There could be segregation of the post of Chairman and CEO in

PSBs as well.

There would be more coordination between the RBI and the

statutory auditors to eliminate duplicity of supervisory efforts.15

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5.7 Information Technology Act 2000 for Bank

The IT Act 2000 is expected to be the major changes in the

eCommerce business in India. The Major provisions are given below:

Maintain the customer transaction record both ways like hard copy

and soft copy.

Certifying authorities to be overseen by a Controller of certifying

authorities.

Provide legal recognition to commerce which means that contracts

can be enforced.

Provide legal recognition for digital signature.

Digital signature to be authenticated by certifying authentication

authority.

Cyber crimes defined any person involve any such cyber criminal

activities at first times like hacking, make virus content and dissemination of

obscene material are punishable by three years imprisonment and a fine of

Rs.25000. The IT Act 2000 is expected to be the major changes in the e-

Commerce business in India. The Major provisions are given below:

Maintain the customer transaction record both ways like hard copy

and soft copy.

Certifying authorities to be overseen by a Controller of certifying

authorities.

Provide legal recognition to commerce which means that contracts

can be enforced.

Provide legal recognition for digital signature.

Digital signature to be authenticated by certifying authentication

authority.

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Cyber crimes defined any person involve any such cyber criminal

activities at first times like hacking, make virus content and

dissemination of obscene material are punishable by three years

imprisonment and a fine of Rs.25000.

Cyber law Appellate Tribunal set up to hear appeals against

adjudicating authorities.

Hacking is an offense and one will have to pay a fine of upto Rs.

200,000 or undergo imprisonment up to three years.

Electronic commerce, online transaction and digital signature are

legally valid in India till Oct 18, 200016.

5.8 Innovation in Banks in Terms of Services

Innovation is identified as the main driver for companies to grow and

maintain high profitability and productivity. Innovation can be defined as an

idea applied to improving a product service as per change in technology. The

Indian banking industry was on an unpredicted rapid growth during the last

decade, hence for this sustain change, the new regulation and policies are

required. Technology played a critical role to develop certain thing. Most of

the successive entity can be accepted ever changing innovative trend in

technology. Service level, delivery channel, the quality of the product, time

consumption and customer centric services are the most important part of the

innovation.

Service quality impact on customer satisfaction and customer

retention.

Service delivery technology reduced banks primary cost.

The awareness of the customers are the impact of deregulation, rapid

global competition and networking.

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Many external factors like political, economic, social and

technological and internal forces like customers, employees,

organizational structure, product development, service delivery have

great impact on the innovation in banking.

Innovations are discontinuous because innovation is difficult

accessible to people with certain qualities.

The bank seeks profit thought innovation and transforms the

dynamic process of economic process17.

5.9 Service Innovation of Banks

The various types of banks are trying to provide future related sevices

to their customers. A bank always tries to differ from other, showing by

applying changes. Banks may provide tailoring services to theirs VIP

customers. Here the researcher has tried to highlights various types of

service innovations of banks, which are as given below.

a. Service innovation of public sector bank

b. Service innovation of private sector bank

a. Service innovation of public sector bank

1. State Bank of India

The State Bank of India, popularly known as SBI, is one of the leading

public sector banks in India. The SBI banks are collaboration of three banks

like bank of Madras, Bank of India and bank of Bengal, Later on, it was

merged with the Imperial Bank. In the year 1955, the Government of India

nationalized the Imperial Bank along with the Reserve Bank of India. The

State Bank of India is India's largest commercial bank. The bank has been

attracting large number of the customer by providing better service and

circulation power of branches expansion all over the India.

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The SBI offers the following types of the services18.

a. Product and services

- Personal Banking

- NRI Services

- Agriculture

- International

- Corporate

- SME

- Domestic Treasury

b. Retail banking

- Term Deposits

- Recurring Deposits

- Housing Loan

- Educational Loan

- Personal Loan

- For Pensioners

- Against Mortgage of Property

- Against Shares & Debentures

- Plus Scheme

- Medi-Plus Scheme

- Rates of Interest

The State Bank of India has its presence all over India with 16,000

branches. At present, SBI has 131 branches in 32 countries all over

the world. The State bank of India also provides technology based

innovative services likes.

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SMS Unhappy

This innovative idea was initiated by Mr. Siva Kumar, Dy.

Managing Director of SBI. Any customer who wants to lodge a

complaint sends the message “Unhappy” to a specified number

(8008202020). The Happy Room then calls the customer a records the

details of the complaint. The complaint is then forwarded. SBI has

received thousands of such messages since its commencement and

this service is a great success. Other banks have also started imitating

this service.

Crorepati Only Branch

SBI has launched first of its kind branch for High Net Worth

Individuals (HNI) where it takes minimum Rs 1 crore to open an

account, and that too on invitation only. This branch offers specialized

banking facilities like relationship managers, 24/7 lockers, extended

banking hours, doorstep pick-up and drop facilities, in addition to

pampering customers five-star amenities at the branch. “We have

opened as many as 50 accounts so far. We are confident of opening

another 150 by the end of the current fiscal,” as per Mr. Shiva Kumar,

Chief General Manager, According to SBI, an attractive feature of the

branch is 24 hours open lockers. The bank also is providing special

dressing room for customers to cater to the needs of late night function

goers segment.

One Rupee Bank

In its urban financial inclusion initiative, SBI has started a new

innovation through ‘One rupee bank’. A customer can open an account

with just one rupee through the bank’s kiosks5. This is a part of SBI’s

service through kiosks, an initiative to provide banking services to

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under-banked sections of society. Other innovative strategies of SBI

also include, Online Education, Online Home, Online SME, Online

Demat, Online Car Loans, USA Patriot Act Certification, SBI Loan for

Pensioners, e-Invest (IPO investments. SBI Yuva Card (18-30 years),

CAG (Corporate Accounts Group), Cyber Plus and Swarojgar Credit

Card etc.

2. Punjab National Bank

Punjab National Bank, popularly known as P. N. B., initially started on

12th April, 1895. The PNB established with their mission to provide better

service, they main aim is to be the leading player in the global banking

market. The huge network of this bank includes over 5, 100 offices. This

bank has continued to maintain their profit level, second largest profit maker

in Indian market. The Punjab national banks provides following types of the

servise19.

a. Products and Services of Punjab national bank

- T. M. Card

- Balika Shiksha

- Bal Vikas

- Current Account (Smart banking)

- Combo Deposit Scheme

- Credit Card (Global)

- Debit Card

- Dugna Deposit Scheme

- Fixed Deposits (For 555 days, 777 days, 1000 days, 1111 days

and victims of road accidents)

- Loan (Car, education, housing, personal, professional, two

wheeler, against property mortgage and for pensioners)

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- Mitra S. F. Account

- Pensioners’ Overdraft Facility Scheme

- Prudent Sweep

- Rakshak Scheme

- Recurring Deposit

- Salary Account (Total freedom)

- Shikshak Overdraft Scheme

- Shikshak Sweep Scheme

- Term Deposit

- Vidyarthi S. F. Account

- World Travel Card

- Farmers Welfare Central Sector Scheme

- Credit Schemes

- Trust

- P. N. B. Krishi

- Cash ManagementExim Finance

- Exporters’ Gold Card Scheme

- Loan backed by Future Lease Rentals

b. Financial Services

- Life Insurance

- Merchant Banking

- Mutual Fund

- Non-life Insurance

- Online Trading

- Real Estate Investments

- Retirement Planning Scheme

- Tax Planning Scheme

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c. NRI banking

- Gold Loan Scheme

- F. C. N. R. (B) Account

- Foreign Inward Transfers

- Letter of Guarantee

- Non-resident Deposit Schemes (Ordinary, external and foreign

currency)

- N. R. E. Account

- N. R. O. Account

- P. N. B. – N. R. I. Remit Scheme

- R. F. C. Account

d. MSME banking

- Artisan Credit Card Scheme

- Garrage Yogana

- Gramin Chikitsak Scheme

- Kushal Udyami

- Laghu Udyami Credit Card

- Pragati Udyami Scheme

- Sahayog Scheme

- Sarthak Udyami Scheme

- Vikas Udyami Scheme

e. International banking

- Foreign Currency Non-resident Deposit A/c Scheme (FD)

- Non-resident External Deposit A/c Scheme (SB/CA/FD)

- Non-resident Ordinary Deposit A/c Scheme (SB/CA/FD/RD)

- Foreign Inward Remittances – Rupee Drawing Arrangements /

Speed Remittances with Exchange Houses

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- Money Transfer Schemes

- PNB-NRI REMIT SchemExchange of Foreign Currency

Travellers Cheques/Notes

- World Travel Card

- Buyer / Suppliers’ Credit against Imports into India

- Letter of Guarantee (issued on behalf of foreign banks)

- Precious Metal Business (on consignment basis

- Gold (Metal) Loan Scheme for Domestic Jewellery

Manufacturers.

f. Merchant banking

- Issue Management - Management of Public Issues i.e. IPOs,

FPOs, Right Issues, etc. as Book Running Lead Manager

- Bankers to the Issue

- Payment of Dividend Warrants / Interest Warrants / Refund

Orders

- Debenture Trustee

- Underwriting

- Monitoring Agency

g. Other technological online services

- A. S. B. A. (Application Supported by Blocked Amount)

- Bill Payments

- E-Tax Payments

- Internet Banking

- Mobile Banking

- Money Transfer

- P. N. B. Credit Card (Global)

- Security Alerts

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- E-shopping

- Verified visa

3. Bank of Baroda

The Bank of Baroda was established in the year 1908 in Baroda under

the Companies Act of 1887. The BOB bank has spread across the world.

Bank of Baroda accepts State of the art technology and implemented in the

bank services. The Maharaja Sayajirao Gaekwad who, with his visionary

insight, planned the beginning of a reputed journey which came out as the

Bank of Baroda. The Bank of baroda provides following services to his

customer20.

a. Personal banking

- Deposits

- Gen-next scheme

- Retail loans

- Credit cards

- Debit cards

- Lockers

b. Business

- Loans Advances

- Loans services depositors

c. Corporate banking

d. International banking

e. Treasury

- Domestic operation

- Forex operations

f. Rural

g. Other services

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- Wholesale banking

- Wealth management

- CPPC pension

- Baroda health

- Demat account

- NRI tax solution

- Prepaid card

- Mobile banking

- Internet banking

4. Canara Bank

Canara Bank was established in 1906 at Manglore in India. The founder

of the bank Shri Ammembal Subba Rao Pai was a great visionary insight,

planned who sensed the need of a bank in Mangalore. Canara Bank made an

unmatched reputation in South India. Canara bank has achieved several

milestones in the financial sector in india. The Canara bank provides

following services to his custmers21.

a. Personal Banking

- Home loan

- Life insurance

- Canara Global credit cards

- Canara champ deposit scheme

- SB Gold scheme

- Canara ROBECO Mutual fund pro

- Canara Super saving salary account

- Loans against property

b. Corporate Banking

- Syndication Services

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- IPO Monitoring Activity

- Merchant Banking Services

- Accounts & Deposits

- Cash Management Services

- Loans & Advances

- TUF Schemes

- Canara electronic Tax

h. NRI Banking

- Canbank remit money scheme

- Rupee drawing arrangement

- Swift

- Bank-western union remittance scheme

i. Priority Credit

- SME Business

- SME Marketing Desk

- Regional Rural Banks

- Consultancy Services related to agriculture

- Agri-Business Marketing Desk

- Rural Development

- Entrepreneurship Development for women

- Social Banking

j. Bank Deposits

- Savings Bank Deposits

- Canara Super Savings Salary A/c

- Canara Flexi A/c

- Current Account

- Savings Bank Gold A/c

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- Canara Saral

- Canara Champ

- Can Premium Current Account

5. United bank of India

United Bank of India (UBI) established in 1950, UBI is one of the

leading banks in India offering various types of services to its customers

across the nation. UBI was the the amalgamation of four small banks in

Bengal viz. Hooghly Bank Ltd, Comilla Union Bank Ltd, Bengal Central

Bank Ltd. and Comilla Banking Corporation Ltd, United Bank of India was

nationalized in 196922. United Bank of India focuses on the business growth

and profitability in competitive era. UBI played a major role in the

development in rural and semi urban areas. Tezpur Bank Ltd., Cuttack Bank

Ltd., Hindusthan Mercantile Bank Ltd. and Narang Bank of India Ltd.

merged with United Bank of India. The Inoted bank of India provides

following services to his customers23.

a. Product and services

- Deposit Schemes

- Utility Schemes

- Retail Credit

- Priority Sector

- Corporate Banking

- SME Segment

- United Demat

- Third Party Products

b. Deposit Schemes

- United Tax Savings Income Plan

- United Bonanza Savings Schemes

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- Fixed Deposits

- Re-Investment Plans

- United Bonanza Current Deposit Schemes

- Recurring Deposit

- United Flexi Deposit Schemes

- United Anand Deposit Schemes

- Capital Gains Accounts Schemes

- Savings Bank Account

- United Children Savings Account

- United Basic SB Account

- United Current Deposit Account

- United Gold and Platinum Current Deposit Schemes

c. Utility Schemes

- NRI (Non-Resident Indian)

- United Mobile Services

- Forex

- United Suraksha Yojana

- RTGS (Real Time Gross Settlement)

- OLTAS

- Collection of Tax

- E-Payment

d. Retail Credit

- United Housing Loan Scheme

- United Smart Loan Scheme

- United Housing Loan for Pensioners

- United Personal Loan Scheme for Salaried Persons

- United Demand Loan Scheme

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- United Personal Loan Scheme for Pensioners

- United Festival Loan Scheme

- United Tour & Travel Credit Scheme

- United Car Loan Scheme

- United Consumer Loan Scheme

- United Education Loan Scheme

- United Shikshak Samman Yojana

- United Nari Samman Yojana

- United Trade Credit

- United Mortgage Loan Scheme

- United Cash Rental

e. Priority Sector

- Agricultural Loans

- Small Scale Industries

- Road Transport Operators

- Retail Trade

- Professional and Self Employed Persons

f. Third Party Products

- Life Insurance Products of Tata AIG Life Insurance Company

- Non-Life Products of Bajaj Allianz Insurance Company Ltd

- Credit Card issued by SBI Cards

- Inward Money Remittance by UAE Exchange & Financial

Services Ltd.

- Mutual funds

g. Other services

- Pay union credit card bill

- Union e-remit

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- Verified by VISA

- SMS banking

- Mobile banking

- Call Centre/ Chatting

6. Bank of India

Bank of India was established in the year of 7th September, 1906. Bank

of India was nationalized in July 196924. BOI had started its operation with

only 50 employees in a Mumbai based office. Bank of India was the first

bank of India to establish a foreign branch in 1946 in London and in 1974 at

Paris in Europe. The Bank of India provides following services to his

customers25.

a. Product and services

- Depository Services

- Gold Coin (New)

- Insurance (Domestic travel, health, education etc.)

- Mutual Fund

- Remittance

- Safe Custody

- Safe Deposit Locker

- Star Cash Management Service

b. Card facilities

- Bank of India Master Card

- Bank of India VISA Card

- Gift Card

- Platinum Debit Card

- VISA Electron

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c. Deposit schemes

- Jai Jawan Salary Plus Accounts (New)

- Star Benefit C. D. Plus Accounts

- Star Diamond Savings Account

- Star Flexi Recurring Deposit Scheme

- Star Power Salary Account

- Star Sunidhi Tax Saving Deposit Scheme

- Star Suraksha S. B. Plus Account

d. Loans facilities

- Satr Autofin

- Star Educational Loan

- Star Holiday Loan

- Star Home Loan

- Star I. P. O.

- Star Mahila Gold Loan Scheme

- Star Mortgage Loan

- Star Mitra Personal Loan

- Star Pensioner Loan Scheme

- Star Personal Loan

e. NRI banking

- F. C. N. R. (Foreign Currency Non-resident) Accounts

- Forex Card

- Integrated Treasury

- N. R. E. (Non-resident External) Accounts

- Star e-Remit

f. Online services

- e-Bill Payment

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- Fund Transfer (Inter-bank)

- Internet Banking

- Mobile Banking

- Share Trading

- Tax Payment

- Ticket Booking

7. Indian Bank

The Indian Bank was established on 15th August 1907 as part of the

Swadeshi movement. The Head Office of the Bank was set up in Parry’s

Buildings, Parry’s Corner in Chennai and was shifted to Bentincks Buildings

on Rajaji Salai in Chennai July 191026. The total serving staff of the Indian

bank was 18782, operating profit increased to Rs. 3,463.17 Cr as on 31st

March, 2012 and net profit increased to Rs. 1,746.97 Cr as on 31st March,

2012. The Indian banks converted his 2000 branches into CBS. The Indian

Bank provides followng services to his customers27.

a. Product and services

- Ind netbanking

- Ind mobile banking

- Ind phone banking

- MCA payment

- e-payment of indirect taxes

- IndJet remit (RTGS)

- NEFT

- IB Varishtha

- IB Chhatra

- IB Swarna mudra

- CMS plus

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- Multicity cheque facility

- Credit card

- ATM / Debit cards

- IB Jivan Vidya

- Money gram

b. Insurance services

- Janashree Bhima Yojna (association with LIC)

- Universal Health care (association with UIIC)

- IB Grihajevan- Group insurance scheme for mortgage borrowers

- IB Home Suraksha- Group insurance scheme for mortgage

borrowers

- IB Yatra Suraksha.

8. Allahabad bank

The Oldest Joint Stock Bank of the Country, Allahabad Bank was

founded on April 24, 186528 by a group of Europeans in Allahabad. The

Allahabad bank was one of the oldest joint stock banks in the country as of

March 31, 2012, now has over 2500 branches throughout India. It has a

representative office in Shenzhen along with a branch in Hong Kong. The

Allahabad Bank provides following services to his customers29.

a. Product and services

- Flexi Fix Deposit Scheme

- All Bank Vikash SB Account

- INR 5 Bankin

- All Bank Premium Current Account

- All Bank Tax Benefit Term Deposit Scheme

- Current Plus Deposit Scheme

- All Bank Premium SB Account

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- Sishu Mangal Deposit Scheme

- All Bank Mahila Sanchay Account

b. Retail banking services

- Allbank Ashiana (Home Loan)

- All Bank Property Loan

- All Bank Housing Finance Scheme

- All Bank Furnishing Loan

- All Bank Educational Loan Scheme

- All Bank Gold Loan Scheme

- All Bank Car Finance Scheme

- All Bank Mobike Scheme

- All Bank Saral Loan Scheme

- Overdraft Facility in Savings Bank Account

- Personal Loan Scheme for Pensioners

- All Bank Abhusan Scheme

- Personal Loan Scheme for Doctors/ Medical Practitioners

- All Bank Trade Scheme

- Loan against NSC/ KVP

- AllBank Gyan Dipika Scheme

- All Bank Rent Loan

- Allbank Reverse Mortgage Scheme

c. Other Care Products

- Kisan Credit Card

- AllBank-Expo

- Kisan Shakti Yojana

d. International banking segment

- Foreign Currency Non Resident Account

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- Non-Resident Ordinary (NRO) Account

- Non Resident External (NRE) Account

e. Other services

- All Ayushman Bima Yojana

- Bancassurance and Mutual Fund

- Cash Management Services

- Gold Scheme for Exporters

- Depository Services

- Charter for MSMEs

- Visa Debit cum ATM Card

- Government Business

- Real Time Gross Settlement (RTGS)

- MSME Care Centre in Jharkhand State for All Banks

- National Electronic Funds Transfer (NEFT)

- Internet Banking

9. Corporation bank

The Corporation Bank in India started its journey in the name of the

Canara Banking Corporation (Udupi) Ltd on 12 March 190630 with a sum of

Rs. 5000 only in a small town of Udupi near the city of Mangalore in

Karnataka. The initial capital was Rs.5000/- and at the end of the first day,

its resources stood at 38 Rupees, 13 Annas and 2 Pies. In the month of April

1980, it was given a status of a nationalized bank. Now a day it is one of the

well recognized Public sector banks in India31.

The total business of the bank during the financial year 2011-12 has

been Rs.2, 03,598 crore, as on 31.03.2011. The total deposits have grown to

Rs.1, 46,142 crore. The total income of the bank reached Rs.14, 510.40 crore

during this period. The operating profit of the bank reached Rs.2, 855.97

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crore and net profit reached Rs.1, 506.04 crore as well32.

The Corporation Bank provides following services to his customers.

a. Products and Services

- Anywhere banking

- CorpConvenience International Debit Card

- Corp International Credit card

- ASBA facility for IPO

- Inter Bank Payment Service (IMPS)

- Corp Money Purse VISA Gift Card

- Campus Cash card

- Corp Travel Card

- Funds Transfer using ATMs

- Online funds transfer using internet

- SMS Banking

- Mobile Banking

- Internet Banking

- M-commerce

- Multi city cheques

- Online Tax Payment

- Payment of Income Tax through Corporation Bank ATMs

- Pay Roll Account

- Millionnaire RD account

- Corp Recur

- Three-in-One account

- Gold Coins

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b. Loan services

- Corp Home-Housing Loan

- Corp Vehicle - Loan for vehicles

- Corp Vidya - Education Loan

- Corp Site Loan

- Corp Personal Loan

- Corp Consumer Loan

c. Retail banking

- Corp Doctor Plus

- Corp Mortgage - Funds against residential/commercial property

- Corp Vyapar - Short term credit for traders

- Corp rental - Finance against future rent receivable

- Corp Shelter - Reverse mortgage loan for senior citizens

- Corp Mitra - Personal loans to employees of other companies

holding salary accounts with corporation bank

- Corp Investor Shoppe - Health check up of financial portfolios

- NRI Services

- Cash Management Services for corporatesFast Collection Service

- Corp NewGen SB account

d. Other services

- Corp bill payment

- ASBA facility for IPOs and Rights issues

- Corp any time premium

- Corp Bullet - RTGS and NEFT

- Corp mediclaim

- Corp mobile recharge

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- Corp companion- Any branch banking

- Corp powercheq-Multi city cheque facility

- Depository services

- Inter bank mobile payment service and SMS banking facilities

- New Corp Jeevan Griha Raksha

- Pension payments

- PPF account and Senior citizen saving scheme

- ECS handling at Sunday working branches

10. Oriental bank of commerce

Oriental Bank of Commerce made a beginning under its Founding

Father, Late Rai Bahadur Lala Sohan Lal, the first Chairman of the Bank.

The OBC Bank had to face partition. Branches in the newly formed

Pakistan had to be closed down and the Registered Office had to be shifted

from Lahore to Amritsar. On 14 August 2004, Global Trust Bank merged

with The Oriental Bank Of Commerce33. The Bank has made necessary

arrangements to ensure that service, as usual, is provided to the customers of

the Global Trsut Bank Ltd.

The total business of the bank during the financial year 2012-13 has

been Rs. 2,83,019 crore, as on 31.09.2012. The total deposits have grown to

Rs.1, 64,175 crore. Total advances of the bank reached Rs.1, 18,844 crore

during this period. The profit of the bank reached Rs.302.19 crore. The

Oriental bank of commerce provides following services to his customers34.

a. Product and services

- Oriental bank double deposit scheme

- Oriental salary plus

- Savings accounts

- A basic bank account

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- Unnati deposits scheme

- Jivan sarathi for physically challenged

- SB vidyardhi

- Current account

- Pragti deposits scheme

- Term deposit

- Flexi fixed deposit schemes

- Tax saving term deposit

- Varishtha Samman

- Capital gains account general

- OBC adhar

b. Loan

- Oriental personal loan scheme PSUs

- Oriental personal loan scheme corporates

- Oriental personal loan scheme OMLs

- Oriental personal loan scheme OBLs

- Loan against deposit

- Oriental reverse mortgage scheme

- Gold loan scheme

- Earnest money deposit

- Loan scheme for minority community

- Financing auto/ Taxis

- Housing loan

- Car/vehicle loan

- Educational Loan scheme

c. NRI services

- Oriental NRI premium deposit account

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- Forex Remittance facilities to resident

d. Deposit Schemes

- OBC Aadhar

- ORIENTAL 500

- Basic Banking Account

- Flexi Fixed Deposit Scheme

- Current Accounts

- Saving Accounts

- Tax Saving Term Deposit

- Term Deposit

- Jeevan Sarathi for PH

- Variable Progressive Deposit

- Unnati Deposit Scheme

- Pragati Deposit Scheme

e. Agriculture and Loan scheme

- Composite Credit Scheme for Agricultural Leading

- Kisan Credit Card-Oriented Green Card (OGS)

- Advance against Warehouse Receipts to Farmers

- Overdraft Facility to Farmers

- Agriculture Clinic & Agriculture Business Centers

- Purchase of Land for Agriculture Purposes

- Scheme for Financing Commission Agent

- Financing Two/Three Wheelers to Farmers

- Scheme for Financing Farmers for Purchase of second hand Trucks

and Other

- Schemes for Financing Farmers for Purchase of Trucks and Other

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- Scheme for Financing Working Capital Requirement of Cold

Storage

- Scheme for purchase of Tractor

- Scheme for purchase of Second Hand Tractor

- Scheme for Financing Timber Merchants and Saw Mills

- Agricultural Loan against security of Gold Jewellery

b. Service innovations of private sector bank

1. ICICI

ICICI Bank is the largest private sector bank in India in terms of market

capitalization. ICICI Bank provides a wide array of banking products and

financial services to its retail and corporate customers. It is also the second

largest bank in India in terms of assets with a total asset of 3,674.19 billion

as on June 30, 2009. For the quarter ended on June 30, 2009, the total profit

after tax has been 8.78 billion. The ICIC bank is known as Industrial Credit

and Investment Corporation of India, ICICI Bank has an extensive network

of 1,544 branches with about 4,816 ATMS located across India and in 18

other countries35. ICICI Bank rolls out 25 electronic branches and launches

many next generation banking solutions. ICICI Bank serves over 24 Million

customers throughout the world. It is considered as one of the ‘Big Four

Banks’ in India along with State Bank of India, HDFC Bank and Axis Bank.

The ICICI banks provide following service to his customers36.

a. Products and services

- Savings Account

- Advantage Deposit

- Special Savings Account

- Life Plus Senior Citizens Savings Account

- Fixed Deposits

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- Security Deposits

- Recurring Deposits

- Tax-Saver Fixed Deposit

- Young Stars Savings Account

- Child Education Plan

- Bank@Campus

- Salary Account

- Advantage Woman Savings Account

- EEFC Account

- Resident Foreign Currency (Domestic) Account

- Privilege Banking

- No Frills Account

- Rural Savings Account

- People's Savings Account

- Self Help Group Accounts

- Outward Remittance

- Freedom Savings Account

- Family Banking

b. Loans

- Home Loans

- Loan Against Property

- Personal Loans

- Car Loans

- Two Wheeler Loans

- Commercial Vehicle Loans

- Loans Against Securities

- Loan Against Gold Ornaments

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- Pre-approved Loans

c. Cards

- Consumer Cards

- Credit Cards

- Travel Cards

- Debit Cards

- Commercial Cards

- Corporate Cards

- Prepaid Cards

- Purchase Cards

- Distribution Cards

- Business Cards

- Merchant Services

d. Investments

- Mutual Funds

- Government of India Bonds

- Initial Public Offers (IPO) by Corporates

- Foreign Exchange Services

- ICICI Bank Pure Gold

- Senior Citizens Savings Scheme-2004

e. Insurance

- Home Insurance

- Health Insurance

- Health Advantage Plus

- Family Floater

- Personal Accident

- Travel Insurance

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- Individual Overseas Travel Insurance

- Student Medical Insurance

- Motor Insurance

- Car Insurance

- Two Wheeler Insurance

- Life Insurance

- ICICI Pru Life Time Gold

- ICICI Pru LifeState RP

k. NRI Services

- Money Transfer

- Bank Accounts

- Investments

- Home Loans

- Insurance

- Loans Against FD

l. On-line banking

- Online Account Opening

- Money Manager

- Gold Online

- Mutual Funds Online

- Forex Online

- Life Insurance Online

- Shop on iMobile

- Mobile Money Transfer (IMPS)

- Investments at ATM

- Payments and Transfers at ATM

- Compliments and Complaints

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- TV Banking

2. HDFC

The HDFC bank is known as Housing Development Finance Corporation

Limited. HDFC bank was set up in the Month of August in the years of

199437 in India. This was the 1st organization to be approved by Reserve

Bank of India to establish a private sector bank. Headquartered in the city of

Mumbai, this is one of the main companies involved in housing finance.

HDFC banks aim to be a world class bank so this bank maintains a good

track record of performance in both national level as well as global markets.

The total income of the bank increased by 37.4 % as compared to this same

quarter of 2010. The HDFC bank provides following services to his

customers38.

a. Products and services

- Savings Accounts

- Salary Accounts

- Current Accounts

- Deposits

- Demat Account

- Safe Deposit Locker

- Rural Accounts

b. Loans

- Personal Loans

- Business Loans

- Home Loan

- Car Loans

- Two Wheeler Loans

- Loans Against Assets

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- Educational Loan

- Government Sponsored Programs

- Rural Loans

c. Cards

- Infinia

- Regalia Card

- JetPrivilege HDFC Bank World

- JetPrivilege HDFC Bank Titanium

- Doctors Superia

- Doctors Platinum

- Teachers Platinum

- Superia

- Platinum Edge

- Titanium Edge

- Solitaire Premium

- Platinum Plus

- Visa Signature

- World MasterCard

- Titanium Credit Card

- Women's Gold Credit Card

- Visa Value Plus Credit Card

- Business Platinum Credit Card

- Business Gold Credit Card

- Corporate Visa Signature Credit Card

- Corporate World MasterCard Credit Card

- EasyShop Imperia Platinum Chip Debit Card

- EasyShop Platinum Debit Card

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- EasyShop Titanium Royale Debit Card

- EasyShop Gold Debit Card

- EasyShop Titanium Debit Card

- EasyShop International Debit Card

- EasyShop International Business Debit Card

- EasyShop Woman's Advantage Debit Card

- EasyShop NRO Debit Card

d. Investments

- Wealth Services

- Investment Products

- Mutual Funds

- Equities & Derivatives

- IPO Application through ASBA

- Invest in Gold (Mudra Pure Gold Bar)

- Invest in Silver (Mudra Silver Bar)

- 8% Savings Bonds

- Sec 54 EC - Capital Gains Bonds

e. Insurance

- HDFC SL YoungStar Super Premium

- HDFC Loan Cover Term Assurance Plan

- HDFC Term Assurance Plan

- HDFC Life Sampoorn Samridhi Insurance Plan

- HDFC Savings Assurance Plan

- HDFC Single Premium Whole of Life Insurance Plan

- HDFC SL ClassicAssure Insurance Plan

- HDFC SL Crest

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- HDFC SL New Money Back Plan

- HDFC SL ProGrowth Maximiser

3. Axis Bank

Axis bank was established in 1994, Axis Bank, previously known as UTI

Bank, is one of the Big Four Banks of India along with State Bank of India,

HDFC Bank and ICICI Bank39. It's the first of the new private sector banks

in India to start its operations, when Government of India opened the gate

for the private banks to flock into the Indian financial market. Axis Bank

Limited recorded a total income of 13,745.04 crore as on the year ended

March 31, 2009. It also made a net profit of 1,812.93 crore in the same

financial year. The Axis bank provides following services to his customers40.

a. Products and services

- Zero Balance Savings Account

- Krishi Savings Account

- Easy Access Savings Account

- Prime Savings Account

- Corporate Salary Account

- Women's Savings Account

- Demat Account

- Senior Citizen's Account

- Defense salary Account

- Trust/NGO Savings Account

- RFC (D) Account

- Azzadi - No Frills

- Pension Savings Account

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b. Deposits

- Fixed Deposits

- Recurring Deposits

- Encash 24

- Tax Saver Fixed Deposit

c. Loans

- Home Loan

- Car Loan

- Personal Loan

- Loan Against Shares

- Loan Against Property

- Loan Against Security

- Study Loan

- Consumer Loan

d. Cards

- Credit Cards

- Debit Cards

- Prepaid Cards

e. Investments

- Mohur Gold

- Online Trading

- Mutual Funds

- Demat Account

- A Smile Solution

- Kal Bhi, Aaj Bhi

f. Insurance

- Life Insurance

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Life Insurance Products

5 For Life

- Health Insurance

Family Health

Silver Health

- Motor Insurance

- Jewellery Insurance

- Personal Accident

Safe Guard

- Home

Safe Home

Safe Home Plus

- Travel Companion

- Critical Illness

- Business advantage

g. Payments

- Bill Pay

- Electronic Clearing Service

- Tax Payments

Tax e-Payments

Direct Tax Payments

Pension Disbursement

h. Other Services

- Mobile Refill

- Locker

- Online Shopping

- IPOSmart

241

- E-Statement

i. Accounts

- Normal Current Account

- Business Advantage Account

- Business Select Account

- Business Classic Account

- Business Privilege Account

- Channel One Account

- Current Account for Govt. Organizations

- Current Account for Banks

- Current Account for Builders & Real Estate

- Capital Market Current Account

- Krishi Current Account

- Business Global Current Account

- Club 50 Current Account

- Shipping and Maritime Current Account

- Inland Road Transport Current Account

- Travel, Tourism and Hospitality Current Account

- Local Current Account

- Current Account for Pharma

- Cash Management Current Account

- Current Account for Chartered Accountants

j. Credit

- Large Corporates

Working Capital Finance

Term Loans

Trade Services

242

Structured Finance

Supply Chain Management

Overseas Transactions

- Agri Business

Kisan Power

Powertrac

Commodity Power

Contract Farming

Arthia Power

- SME Standard

- SME Fast Track

- Microfinance

k. Capital Market

- Debt Solutions

- Equity Solutions

- Private Equity, Mergers & Acquisitions

- Advisory Services

- Trusteeship Services

- Depository Services

- eDepository Services

- Capital Market Funding

- Custodial Services

- e-Broking

l. Treasury

- Forex

- International Business

- Money Market

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- Constituent SGL Facilities

- Retailing of Government Securities

m. Cash Management Services

- Payment Solutions

- Collection Solutions

n. Govt. Business

- Authorisation

- Direct Tax Payment

- Indirect Tax Payment

- State Tax Payment

- Pension Disbursement

- Other Services

- e-Payments

- e-Governance Tie-ups

- Online Tax Payment

- New Pension System (NPS)

4. Kotak Mahindra bank

Kotak Mahindra bank wasestablished in 1985. It was previously known

as Kotak Mahindra Finance Limited, an NBFC (Non-banking financial

company) in India. In February 200341, RBI has given a license to carry on

banking business in India. Kotak Mahindra Finance Ltd. is the first company

in the Indian banking history to convert to a bank. Today it has more than

20,000 employees and Rs. 10,000 crore in revenue. In 2011, Kotak

Mahindra Bank was generated Rs 1569 Cr net income. Uday Kotak is

Executive Vice Chairman and Managing Director of Kotak Mahindra Bank

Ltd. The Kotak Mahindra bank has registered office at Nariman Bhavan,

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Nariman point Mumbai. The Kotak Mahindra bank provides following

services to his customer42.

a. Products and services

- Netcard - Travel tickets

- Netcard

- Savings Accounts Benefits

- Bill Pay

- ASBA FACILITY

- Trade Services

- Salary2Wealth

- Direct pay

- Term Deposit

- Activmoney

- Fortune Gold Card

- League Platinum Card

- NetBanking

- Royale Signature Card

- Trump Gold Card

- Gold Eternity

- Safe Deposit Locker

- IMPS

b. Loans

- Personal Loans

- Home Loans

- Loans Against Property

- Business Loans

- OD facility

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c. Car Loans

- Margin Money Scheme

- Low EMI, Balloon Scheme

- Approve your own loan

- Step Up Scheme

- New Car Finance Scheme

- Used Car Finance Scheme

- Advance EMI scheme

d. Mutual Funds

- Kotak 30

- Kotak Midcap

- Kotak opportunities

- Kotak Tax Saver

- Kotak Starkid Facility

- Kotak Income Plus

- Kotak Gold ETF

- Kotak Sensex ETF

- Online Transactions

e. Securities

- Easy IPO

- PMS

- AutoInvest

- Kotak Super Saver

- Twin Advantage

- Super Multiple

- M-Trade

- Super Derivatives

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- Balanced Equity Portfolio Scheme

- Easy Equity Derivatives Scheme

- NRI Equity

- TradeSmart

- Fundamental Research

- Currency Derivatives Research

- Technical Research

- Derivatives Research

- Demat Account

- KEATPro

- ETF

- Institutional Equities

f. Wealth

- Asset Advisory Services

- Family Office Services

- Euromoney

- Estate Planning

g. NRI Services

- NRI banking

- NRI Investments

- NRI Help Center

m. Privy League

- Privy League

- ASBA facility for Privy

n. Life Insurance

- Online Insurance plans

- Kotak Secure Invest Insurance

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- Money Back Plan

- Kotak Headstart Child Assure

- Term Plans

5. Jammu and Kashmir bank

The Jammu and Kashmir Bank was incorporated in the year 1938. It

ranks among the leading commercial banking institutions in the state of

Jammu and Kashmir. The bank has its head office in Srinagar, the summer

capital of the state, and enjoys a large clientele. It has a dual role of an

investment bank and a commercial bank in the state of J & K. It offers

specialized financial services in other locations of India.

The Bank , incorporated in 1938, and is listed on the NSE and the BSE. It

has a track record of uninterrupted profits and dividends for four decades.

The J&K Bank is rated P1+, indicating the highest degree of safety by

Standard & Poor and CRISIL43. The Jammu and Kashmir bank provides

following service to his customers44.

a. Product and services

- Millennium deposits scheme

- Fixed deposits scheme

- Child care scheme

- Cash certificate

- Super earner deposits scheme

- Recurring deposit scheme

- Recurring plus account

- Depositors pension scheme

b. Loans and Credit

- Specialized Finances

- Automobile Finance

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- Educational Finance

- Home Finance

- Other Types of Finances

c. Savings and deposits

- Current Accounts

- Gift Cheque Scheme

- Value Added Schemes

- Term Deposit

- Saving Bank Deposit

d. Insurance

- Non Life Insurance products

- Life Insurance products

e. Cards

- Merchant Acquiring

- Empowerment Credit Card

- Global Access Debit Card

f. Support services

- Merchant Acquiring

- Debit & Credit Cards

- ATM Services

- SMS Banking

- Internet Banking

- Anywhere Banking

g. Third party services

- Insurance Services

h. Other financial services

- Budshah primary education finance

249

- Passenger bus mini bus finance ( Doha Bharderwah kishtwar)

- Sohaliat saral fiance

- Loans against mortgage of immovable property

- Help tourism (For Kashnir valley only)

- Fruit advance scheme for apple

- zafran fince

- Roshni financing scheme

- Craft development finance

- Dastkan finance

- Girir finance scheme

- Khatamband craftsmen finance

- Technology upgradation

- J.K. Bank commercial floriculture finance

- J.K. Bank Scooty finance for girls

- J.K. Bank construction equipment finance

- J.K. Bank solar lighting and photo voltaic finance

- J.K. A bank debt swap scheme to finance

- S.B. Ujala no frills account

6. Yes bank

YES Bank India is a new age private sector bank in India, founded by

Rana Kapoor with a goal to set up a high quality, customer centric, service

driven private sector Indian bank that would cater to the "Future Industries

of India". It is also the only bank that has been awarded Greenfield license

by the Reserve Bank of India in the past 14 years. YES BANK was awarded

the “Most Innovative Bank in India” at the New Economy First Annual

Banking and Finance Awards 200845 held in London and was announced in

the December 2008 issue of the International Magazine, New Economy.

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YES BANK is the only Indian Bank to have won this award. YES Bank has

joined hands with handset maker Nokia to offer mobile payment services

that will enable consumers pay for goods and services using their mobile

devices. The Yes bank offers a large number of financial products and

services to his clients, which include Corporate and Institutional Banking.

YES Bank Limited follows international best practices, the premier

standards of service quality and operational excellence and use highest

technologies to provide comprehensive banking and financial solutions. YES

Bank India is also associated with various global thought leadership forums

including Triple Bottom Line Investing (TBLI), the Clinton Global Initiative

(CGI) and Tallberg Forum etc. The Yes bank provides following services to

his customers46.

a. Products and services

- Corporate Banking

- Institutional Banking

- Corporate Finance

- Infrastructure Banking Unit (IBU)

- Structured & Project Unit (SP&F)

- Financial Restructuring Unit (FRU)

- Realty Banking Unit

- Project Advisory & Syndication Unit

- Branch Banking

- Saving Accounts

- Current Accounts

- No-frills Account

- Non-resident Accounts

- Fixed Deposits

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- 5-Year Tax Efficient Fixed Deposits

- Smart Saver Accounts

- Smart Salary Accounts

b. YES FIRST Wealth Management

- ZERO Balance GOLD Savings Account

- Relationship Pricing

- Complimentary YES FIRST International GOLD Debit Card

- Doorstep Banking

- YES TOUCH Phone Banking Services

- Net Banking

- Mobile Banking

- Money Monitor

c. Investment Banking

- Private Equity Syndication

- Financial Advisory

- Equity Capital Markets

- Restructuring & Privatizations

- Brokerage Services

d. Financial Markets

- Foreign Exchange

- Online Forex Solutions

- Fixed Income

- Derivatives & Structured Products

- Commodity Risk Management Advisory

- Liquidity & Balance Sheet Management

- Transaction Banking

- Cash Management Services

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- Capital Market Services

- Trade Services

- Trade Finance

e. Investment Banking

- Private Equity Syndication

- Financial Advisory

- Equity Capital Markets

- Restructuring & Privatizations

- Brokerage Services

- Financial Markets

- Foreign Exchange

- Online Forex Solutions

- Fixed Income

- Derivatives & Structured Products

- Commodity Risk Management Advisory

- Liquidity & Balance Sheet Management

7. Federal Bank

Federal Bank is a private sector bank in India. The head office of this

bank is located at Aluva, Kerala. The Federal Bank India had 611 branches

and 616 ATMs across the nation, in the month of March of 200947. The

Federal bank had opened 26 branches across 11 Indian States. The Federal

bank of India facilitates even in smaller branches enabled with technology

based services. The Federal Bank of India previously known as Travancore

Federal Bank Limited. In the year 1945, the paid-up capital of the bank

touched Rs.71000 and a new Board of Directors was constituted. During this

period, the bank also incorporated new Articles of Association. The same

year its branch was opened at Aluva. The Federal Bank came with its

253

branches in Angamally and Perumbavoor. The Federal bnak provides

following services to his customers48.

a. Products and Services

- Depository Services

- Debit Cards

- General Insurance Products in association with United India

Insurance

- Export Credit Insurance Products in association with ECGC

- Express Remittance Facility from Abroad - FEDFAST

- Cash -On- Line Express Cash Remittance

- Life Insurance Products in association with IDBI Fortis

- Lock Box Service for US-based NRIs

- Cash Management Services

- Merchant Banking Services

- E-shopping Payment gateway

- BSNL Bill Payment

- Easy Pay- On-line fee payment system

- Online LIC Insurance Payment

- Online Kiosks for customers

- Online Railway Reservation System

b. Pioneering Services

- Made its branches automated

- Inter-connected all its branches

- Started Electronic Telephone Bill Payment

- Introduced e-shopping payment gateway

- Offered Mobile Alerts and Mobile Banking service

- Devised a way for Express Remittance Facility from Abroad

254

- Provided RTGS facility in all its branches

- Depository Services

- Debit Cards

- General Insurance Products in association with United India

Insurance

- Export Credit Insurance Products in association with ECGC

- Express Remittance Facility from Abroad - FEDFAST

- Cash -On- Line Express Cash Remittance

- Life Insurance Products in association with IDBI Fortis

- Lock Box Service for US-based NRIs

- Cash Management Services

- Merchant Banking Services

- E-shopping Payment gateway

- BSNL Bill Payment

- Easy Pay- On-line fee payment system

- Online LIC Insurance Payment

- Online Kiosks for customers

- Online Railway Reservation System

- Launched Internet Banking Service via FedNet among all the

traditional banks in India

- Made its branches automated

- Inter-connected all its branches

- Started Electronic Telephone Bill Payment

- Introduced e-shopping payment gateway

- Offered Mobile Alerts and Mobile Banking service

- Devised a way for Express Remittance Facility from Abroad

- Provided RTGS facility in all its branches

255

8. Karur Vyasa bank

The Karur Vysya Bank Ltd., was started in the year 1916 in Karur, in a

small textile town with a vast agricultural background, by two illustrious

sons of the soil – Sri M.A. Venkatarama Chettiar and Sri Athi Krishna

Chettiar was started as a venture with a seed capital of Rs. 1 lakh. The Karur

Vysya Bank Limited, universally known as KVB has made a mark in the

commercial banking arena right from. The journey for the bank started off

with a meager capital of 1 lakh. But over the years, KVB has met all the

market dynamics and challenges and created a strong base for itself. It has

around 451 branches with 825 ATM network spanning 13 States and 2

Union Territories. The KVB has made total business was at Rs. 56316 Cr.

With total deposits of Rs. 32111 Cr. and total advances at Rs. 24205 Cr., the

net profit of the bank for fiscal 2011-12 was Rs. 501.72 Cr. and the net

owned funds of the bank are Rs. 2708.22 cr49. The Karur Vyasa bank

provides following services to his customers50.

a. Product ad services

- Any Branch Banking

- Multicity Account services for both current and savings bank

customers

- Internet Banking

- On line utility bill payments facility through Billdesk

- On line shopping facility via CCAvenues

- e-commerce facilities

- Mobile Banking

- VISA Debit card facility with a card base of over 1.50 million

- Payment of institutional fees through ATMs

- Payment for air tickets (Kingfisher) through KVB ATMs

256

- Mobile top up facility at KVB ATMs

b. Technology based services

- KVB offers quite a few deposit and loan products, all customized to

meet customer requirements

- All types of general insurance policies are offered by the bank by

tying up with M/s Bajaj Allianz General Insurance Company

- The bank has tied up with M/s Birla Sun Life Insurance Company

to provide different kinds of insurance policies

- Products of SBI MF, Reliance MF, Sundaram BNP Paribas MF,

Birla Sunlife MF, Franklin Templeton MF and LIC MF are

distributed by the bank

- Mobile Banking with Interbank Mobile Payment Services enabled

by NPCI

- Point of sale machines

- Real Time Gross Settlement (RTGS) and National Electronic

Funds Transfer (NEFT) facilities at all branches

- VISA and MasterCard Debit card facility with a card base of over

2 million

- Anmol Rewards for use of KVB Debit card for POS and e-POS

transactions

- On-line rail and air ticket booking using KVB VISA Debit card

- VISA enabled Gift and Travel Cards

- Access to over 850 KVB ATMs and over 13000 domestic ATMs

and over 1 million VISA ATMs worldwide

- Card to Card and Card to account transfer of funds through KVB

ATMs

- Payment of institutional fees through ATMs

257

- 24 X 7 toll free professional help desk services for all ATM,

Internet Banking, Mobile Banking and e-commerce transactions

9. Induslnd bank

IndusInd bank Ltd was founded in 1994. IndusInd Bank Ltd provides a

large number of products and services to its customers, which include

transactions, commercial and electronic banking products and services. It is

one of the new generation private generation private banks in India.

IndusInd Bank became the pioneer in launching Internet Banking. In

2000-01, the total business of IndusInd crossed 10,000 crores. It recorded

the highest productivity in Indian banking sector with a business of 16 crores

per employee. In 2003-04, IndusInd Bank Ltd celebrated its 10th year by

touching 19,000 crores business volume. In the year of 2003-04 Ashok

Leyland Finance merged with Induslnd bank. It's the first Indian

Commercial Bank to achieve ISO 9001:2000 Quality Management System

certification for its 'Entire Network of Branches'51.

In 2008-09, the total business of IndusInd Bank Ltd crossed 37,800

crores. Its net worth became 1429 crores, while the earning per share

augmented to 4.28 from 2.35. Indusind bank provides following services to

his customers52.

a. Products and services

- Indus classic Savings Account

- Indus Easy Savings Account

- Demat Account

- RFC Account

- Current Account

- Specialized Account

- Indus Privilege Savings Account

258

- Indus Young Saver

b. Deposits

- Flexi Term Deposit

- Sweep -In / Seep-Out Deposit

- Young Saver Deposit

- Senior Citizen Scheme

- Regular Recurring Deposit

- Flexi Recurring Deposit

c. Loans

- Home Loans

- Small Business Loan

- Commercial Vehicle Loan

- Car Loan

- Two-wheeler Loan

- Construction Equipment Loan

- Loan Against Shares

- Loan Against Property

- Loan Against Rent Receivables

- Loan Against Mutual Funds

- Credit Against Specific Securities

- Traders Advances

d. Cards

- Regular Debit Card

- Gold Debit Card

- Indus Money

- Summer Swipe Special

259

e. Wealth Management Services

- Portfolio Management

- Investments

- Insurance

- Suvarna Mudra

f. Corporate Banking

- Large Indian Companies

- Small & Medium Enterprises

- Supply Chain Management

g. International Banking

- Correspondent Banking

- SWIFT

- Advisory Services

- Facilities to Exporters

- Trade Finance

- RFC Account for Residents

- Gold Banking

h. Investment and Capital commodities markets

- Foreign Exchange Desk

- Money Market Desk

- Derivatives Desk

- Stock Exchange Cell

- Commodities Exchange Cell

- Banker to Public / Rights

- Debenture Trustee

- IPO Funding

- Loan Against Demat Shares

260

- Depository Services

i. Online Banking

- IndusNet - Internet Banking

- Indus Pay - e-wallet

- VISA Money Transfer

- ATMs

- Indus Billpay

- Mobile Top-Ups

- Mobile Banking

- Indusnet

- ATMs E-Statement

- Mobile Alert

- e-trading

- Indus online

- Indus T-settle

- Remittance scheme

- MF portfolio tracking

- indus disretct

- Mobile top-up

- Mobile banking

10. ING-Vyasa bank

The ING Vysya bank Ltd was established in 2002. The bank came into

existence when the Vysya Bank Ltd went into a joint venture with global

financial institute ING. Vysya Bank Ltd was one of the banks in India set up

in the year 1930. The main objective of the bank was to provide financial

support to the various sectors of the economy. The Vysya Bank was listed

among the Scheduled Banks in India. ING Vysya Bank Ltd. satisfied both

261

short term and long term financial requirement of the financial institute.

ING Vysya Bank Ltd has 677 branches across the country. The headquarters

of the bank is located in the city of Banglore. Among the total number of the

branches, there are 407 regular branches53.

The ING Vysya Bank Ltd. has 203 ATMs in across the India. The profits

of the bank amount to around 1569.00 millions. The ING-Vyasa bank

provides following services to his customers54.

a. Products and services

- Mutual funds

- Tax savings bonds

- Saving Accounts

- NRI services

- Credit and Debit card

- Internet Banking

- Phone Banking

- Mobile Banking

- Self Banking

- Term deposits

- Demat accounting

- Wealth management

- Debit and credit card accounting

- Payment services

b. Wealth arrangement services

- Long term loans in the agro based sector

- SME power business account and loans

- Financial market analysis

- Market trading

262

- Asset liability management services

- Financial market sales

- Cash management services

- Corporate and investment banking services

- Offshore borrowing services

- Trade and community finance services

c. Platina preferred banking

- Saving account

- Current Account

- Term deposits

- Institutional client solutions.

- Demat account

- Safe deposit locker

- Jiyo easy hand book

- Forms

d. Forex

- Forex travel cards

- Travelers cheques

- Demand Drafts

- Telegraphic Transfers

- FES ING branch locator

- FES branch list

- Travel Insurance

- Travel Tips

e. Easy internet banking

- Phone Banking

- Mobile Banking

263

- SMS Banking

- ATM/ Kiosks

- Payment services

- E-statement

- ING Nano

f. Loans

- Home equity loan

- Personal loan

- NRI loan

- Education loan

5.14 Conclusion:-

The state of the art technology revolutionary drives the extraordinary

rapid growth of the Indian banking system. Now a day, bank customers are

increasing day-to-day. Hence, Innovative banking channel plays a very

important role to handle this customer effectively and to reduce the work

burden of the working staff. E-banking software used by the bank is tested

by RBI expert’s IT team, it means that there is a no chance to become fraud,

hacking and net robbery in banking transaction. Nationalized banks mainly

concentrate on customer satisfaction. Government authority should establish

or facilitate a favorable legal framework environment for the Innovative

banking. In internet banking, which is a security-based system, there are

various risk issues and Internet fraud that can affect to the customer’s view

of the service quality provided by the banks. Therefore various types of risk

factor, legal framework. advantages and limitation of innovative banking,

innovative services of banking sector shold be reviewed periodically. Public

sector and private sector banks provides list and various service innovations

indicates how a bank tries to differ from other banks.

264

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