Entrepreneurship in Banking & Insurance
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Transcript of Entrepreneurship in Banking & Insurance
Entrepreneurship in Banking & Insurance.
INTRODUCTIONStarting New BusinessesIntra-preneurship True UncertaintySame Character traits
MEANING A financial institutionConnects customers Hold the savings Flow of funds A pace setter.
Definition of banking
According to banking regulation act 1949 “ accepting for the purpose of lending or investment of deposits of money from the public repayable on demand or otherwise and withdraw able by check, draft, order or otherwise.”
STANDARD ACTIVITIESPayment agents Payments via other methods Banks borrows fundsNon-banks payment services Provide an adequate substitute
RETAIL BANKING
Savings accountCredit cardDebit cardMortgageMutual fundPersonal loan
BUSINESS BANKINGBusiness loanCapital raising Term loanCash Management Services
CHANGING ROLE OF BANKS IN ENTREPRENEURSHIP
Deposit mobilization Higher level of profitability Support to small enterprises.Soft credit availabilityMotivate and assist prospectiveRequires financial input as well as non-
financial inputs
ENTREPRENEURSHIP AMONG BORROWERS
Independent management consultants Technical consultants well equippedRisk an inherent ingredientHigh level of NPAs
INSURANCE
Form of risk management Risk of a contingent lossEquitable transfer of the risk
INSURANCE SECTOR REFORMS:Indian Insurance Industry reformed.Objective of complimenting the reforms .More efficient and competitive financial
system
Meaning and Benefits of BancassuranceConvergence of banking and insuranceDistribution of insurance products A tool for increasing their market penetration Great benefit to the customerCreation of one-shop Gains from both sides
OPPORTUNITIES AND CHALLENGESOn the rise in emerging marketsSuccessfully leveraging bancassurance Europe highest penetration ratesNorth America is lowest.Gaining in popularity
EMERGING TRENDTailor-made products Embrace direct marketing Willingness to expand
CONCLUSIONMore social entrepreneurs Need help to become fully engagedNot be defined so narrowly Uncover the factors More natural act