29381388 innovation-in-indian-banking-sector

P
Perminder SinghIntern um HDFC Bank
INNOVATION
      IN
    INDIAN
BANKING SECTOR
CONTENTS
 Introduction
 Indian Banking Sector
 Innovation in Banking Sector
 Types of Innovative Banking
 Types of Products & Services
 Types of Electronic Systems
 Innovative Schemes of ING VYSYA
    BANK
Conclusion
INTRODUCTION
The term “Innovation” means ‘to
make something new’

Banks no longer restricted themselves
to traditional banking activities, but
explored newer avenues to increase
business and capture new market.
INDIAN BANKING
        SECTOR
From the time bank of bengal(1806),
qualitative and quantitative changes taken
place
With 1935 regulation, the RBI was proclaimed
the central bank of India
In the 1990s, greater emphasis being placed
on technology and innovation
New concept like personal banking, retail
banking, total branch automation, etc were
introduced
INNOVATIONS IN
       INDIAN BANKING
           SECTOR
Category I: Types Of Innovative
      Banking
Category II: Types Of Product & Services
Category III: Electronic Systems
Types of Innovative Banking
1.E-BANKING
    Enables people to carry out most of their banking
 transaction using a safe website which is operated by
 their respected bank
 Advantage
 Faster & more convenient transaction
 No longer required to wait in long queues
 Opening of account simple & easy
 Apply for bank loan
 Cost effective for banker side
 Fund transfer become faster & convenient
 Stock trading, exchanging bonds & other investment
2. CORE BANKING
Depositing and lending of money
Core banking solution
Knowing customers needs

3. CORPORATE BANKING
   Financial services to large corporate & MNCs
Services:
 Overdraft facility
 Domestic and international payments
 Funding
 Channel financing
 Letters of guarantee
 Working capital facility for domestic & international
trade
4. INVESTMENT BANKING
   Creating funds and wealth of clients
   Fund creating in two ways :
•   Corporate Finance
•    M & As
   Professional sales person providing advice on stock trading

5. RURAL BANKING
It provides & regulates credit services for the promotion &
development of rural sector mainly agriculture, SSI, cottage
and village industries, handicrafts and many more.
Examples Of Regional Rural Banks are NABARD, HARYANA
STATE COPERATIVE APEX BANK LIMITED, SYNDICATE BANK, UNITED
BANK OF INDIA
KIOSK BANKING
6. NRI BANKING
This facility is designed for diverse banking requirements
of the vast nri population spread across the globe.
 NRE (Non Resident External Account)
 NRO (Non Resident Ordinary Account)
 FCNR (Foreign Currency Non Resident Account)
7.RETAIL BANKING
It refers to banking in which banks execute transaction
directly with individual , rather than corporate banks.
It is also known as ‘One stop shop’.

Services:
 Saving and checking accounts
 Mortgage
 Housing Finance
 Auto Finance
 Consumer Durable Loans
 Personal Loans
 Educational Loans
 Credit Cards
TYPES OF PRODUCTS & SERVICES
 1.TOTAL BRANCH AUTOMATION
  Speed up bank transactions and less error
  More customer friendly and flexible
  Towards paperless transactions
 2. ANY BRANCH BANKING
 It is a facility for customers to operate their account from
     any of the same banks network branch
 Facilities available:
  Cash withdrawal & Cash deposits
  Account statement
  Facility to issue multi- city cheques
  Fund transfer
  Balance enquiry
  Purchase of demand drafts pay order
  Repayment of loan account
3. DEMAT SERVICES
 It offers secure and convenient way to keep track your
securities and investment over a period of time without
the hassle of handling physical documents
 It provide facility of online trading

4. MICROFINANCE
It refers to a movement that envisions a world in which
low income households have permanent access to a range
of high quality financial service to finance their income
producing activities, build assets, stabilize consumption
and protect against risks.
5. PLASTIC MONEY
 Plastic money are the alternative to the cash or standard
money
 Convenient to carry
 Generic term for all types of bank cards, debit cads,
credit cards, smart cards

6. MOBILE BANKING
The account that can travel with you.
Facility one can bank from anywhere,
at any time, & in any condition or any how
Facilities are:
• Balance enquiry
• Fund transfer
• Chequebook request,etc
Type of Electronic Systems
1.ATM
 It stands for ‘Automatic teller machine’
 In simple words, it is ‘ simple to use self service solution
 Value added services like recharge their mobile, pay the utilty bills,
  mutual fund transactions, etc

2. RTGS
 It stands for ‘Real time gross settlement system
 It is a fund transfer mechanism where transfer of money takes place
  from one bank to another on a ‘real time’ and on ‘gross basis’.
 This is the fastest possible money transfer system through the banking
  channel.
 It is different from EFT and NEFT
 It is primarily for large volume transaction
 The time taken for effecting funds transfer from one account to another
  is normally 2 hours
3. FINACLE
This system provides the holistic and integrated
transformation approach, complete with solutions and
services
Finacle solutions addresses the requirements of retail,
corporate and universal banking worldwide like
 Core banking solution
 E-banking solution
 Mobile banking solution
 Wealth management
 CRM requirements, etc
29381388 innovation-in-indian-banking-sector
29381388 innovation-in-indian-banking-sector
The ING group originated in 1990s and stands for
  ‘INTERNATIONALE NEDERLANDEN GROUP’
   ING’s mission is to be a leading, global, client focused,
  innovative and low-cost provider of financial services
  through the distribution channels of the client’s
  preference in markets where ING can create value.

  Innovative schemes if ING Vyasya Banks are:
 SMARTSERV
 Vysunit deposits
 ING vysya credit and debit cards
CONCLUSION
The BANKING sector in India has become stronger in terms
of capital and the number of customers. It has become
globally competitive and diverse aiming, at higher
productivity and efficiency.

Exposure to worldwide competition and deregulation in
Indian financial sector has led to the emergence of better
quality products and services. Reforms have changed the
face of Indian banking and finance. The banking sector has
improved manifolds in terms of Technology, Deregulation,
Product & Services, Information Systems, Etc
“With new opportunities unfolding Banking Sector, India
is emerging as a global power in banking services in the
next two decade."
THANK YOU
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29381388 innovation-in-indian-banking-sector

  • 1. INNOVATION IN INDIAN BANKING SECTOR
  • 2. CONTENTS  Introduction  Indian Banking Sector  Innovation in Banking Sector  Types of Innovative Banking  Types of Products & Services  Types of Electronic Systems  Innovative Schemes of ING VYSYA BANK Conclusion
  • 3. INTRODUCTION The term “Innovation” means ‘to make something new’ Banks no longer restricted themselves to traditional banking activities, but explored newer avenues to increase business and capture new market.
  • 4. INDIAN BANKING SECTOR From the time bank of bengal(1806), qualitative and quantitative changes taken place With 1935 regulation, the RBI was proclaimed the central bank of India In the 1990s, greater emphasis being placed on technology and innovation New concept like personal banking, retail banking, total branch automation, etc were introduced
  • 5. INNOVATIONS IN INDIAN BANKING SECTOR Category I: Types Of Innovative Banking Category II: Types Of Product & Services Category III: Electronic Systems
  • 6. Types of Innovative Banking 1.E-BANKING Enables people to carry out most of their banking transaction using a safe website which is operated by their respected bank Advantage  Faster & more convenient transaction  No longer required to wait in long queues  Opening of account simple & easy  Apply for bank loan  Cost effective for banker side  Fund transfer become faster & convenient  Stock trading, exchanging bonds & other investment
  • 7. 2. CORE BANKING Depositing and lending of money Core banking solution Knowing customers needs 3. CORPORATE BANKING Financial services to large corporate & MNCs Services:  Overdraft facility  Domestic and international payments  Funding  Channel financing  Letters of guarantee  Working capital facility for domestic & international trade
  • 8. 4. INVESTMENT BANKING  Creating funds and wealth of clients  Fund creating in two ways : • Corporate Finance • M & As  Professional sales person providing advice on stock trading 5. RURAL BANKING It provides & regulates credit services for the promotion & development of rural sector mainly agriculture, SSI, cottage and village industries, handicrafts and many more. Examples Of Regional Rural Banks are NABARD, HARYANA STATE COPERATIVE APEX BANK LIMITED, SYNDICATE BANK, UNITED BANK OF INDIA KIOSK BANKING
  • 9. 6. NRI BANKING This facility is designed for diverse banking requirements of the vast nri population spread across the globe.  NRE (Non Resident External Account)  NRO (Non Resident Ordinary Account)  FCNR (Foreign Currency Non Resident Account)
  • 10. 7.RETAIL BANKING It refers to banking in which banks execute transaction directly with individual , rather than corporate banks. It is also known as ‘One stop shop’. Services:  Saving and checking accounts  Mortgage  Housing Finance  Auto Finance  Consumer Durable Loans  Personal Loans  Educational Loans  Credit Cards
  • 11. TYPES OF PRODUCTS & SERVICES 1.TOTAL BRANCH AUTOMATION  Speed up bank transactions and less error  More customer friendly and flexible  Towards paperless transactions 2. ANY BRANCH BANKING It is a facility for customers to operate their account from any of the same banks network branch Facilities available:  Cash withdrawal & Cash deposits  Account statement  Facility to issue multi- city cheques  Fund transfer  Balance enquiry  Purchase of demand drafts pay order  Repayment of loan account
  • 12. 3. DEMAT SERVICES  It offers secure and convenient way to keep track your securities and investment over a period of time without the hassle of handling physical documents  It provide facility of online trading 4. MICROFINANCE It refers to a movement that envisions a world in which low income households have permanent access to a range of high quality financial service to finance their income producing activities, build assets, stabilize consumption and protect against risks.
  • 13. 5. PLASTIC MONEY  Plastic money are the alternative to the cash or standard money  Convenient to carry  Generic term for all types of bank cards, debit cads, credit cards, smart cards 6. MOBILE BANKING The account that can travel with you. Facility one can bank from anywhere, at any time, & in any condition or any how Facilities are: • Balance enquiry • Fund transfer • Chequebook request,etc
  • 14. Type of Electronic Systems 1.ATM  It stands for ‘Automatic teller machine’  In simple words, it is ‘ simple to use self service solution  Value added services like recharge their mobile, pay the utilty bills, mutual fund transactions, etc 2. RTGS  It stands for ‘Real time gross settlement system  It is a fund transfer mechanism where transfer of money takes place from one bank to another on a ‘real time’ and on ‘gross basis’.  This is the fastest possible money transfer system through the banking channel.  It is different from EFT and NEFT  It is primarily for large volume transaction  The time taken for effecting funds transfer from one account to another is normally 2 hours
  • 15. 3. FINACLE This system provides the holistic and integrated transformation approach, complete with solutions and services Finacle solutions addresses the requirements of retail, corporate and universal banking worldwide like  Core banking solution  E-banking solution  Mobile banking solution  Wealth management  CRM requirements, etc
  • 18. The ING group originated in 1990s and stands for ‘INTERNATIONALE NEDERLANDEN GROUP’ ING’s mission is to be a leading, global, client focused, innovative and low-cost provider of financial services through the distribution channels of the client’s preference in markets where ING can create value. Innovative schemes if ING Vyasya Banks are:  SMARTSERV  Vysunit deposits  ING vysya credit and debit cards
  • 19. CONCLUSION The BANKING sector in India has become stronger in terms of capital and the number of customers. It has become globally competitive and diverse aiming, at higher productivity and efficiency. Exposure to worldwide competition and deregulation in Indian financial sector has led to the emergence of better quality products and services. Reforms have changed the face of Indian banking and finance. The banking sector has improved manifolds in terms of Technology, Deregulation, Product & Services, Information Systems, Etc “With new opportunities unfolding Banking Sector, India is emerging as a global power in banking services in the next two decade."