COMMERCIAL BANK - Gift Cheque Scheme

Gift Cheques

The commercial bank offer Gift Cheque facilities to the general public.

These cheque received a wider acceptance in India.

This system by paying equivalent amount one can buy gift cheque for presentation on occasions like
Wedding, Birthday.  

Few years back banks were trying to popularise "Gift Cheque" scheme.

However did not turn out to be a successful scheme.

TAGS; 'Gift Cheque facilities'

ATM FACILITIES

Automated Teller Machine

The banks, today have ATM facilities. 

This system the customers can withdraw their money easily and quickly and 24hours a day.

Customers under this system can withdraw funds i.e., currency notes with a help of certain magnetic card
issued by the bank and similarily deposit cash/cheque for credit to account.

TAGS; 'Any Time Money'

COMMERCIAL BANKS

GENERAL CLASSIFICATION OF BANKS

Commercial banks in india are organised as joint stock companies and known as banking companies.

a). Scheduled banks
b). Non-scheduled banks.

a). Scheduled banks;   
       
     A bank in order to be designated as a scheduled bank have paid up a capital and reserve as precribed  by the act.

     The scheduled bank enjoy several privileges.The scheduled banks are also required to maintain with 
the RBI deposit in the form Cash Reserve Ratio based on its demand and liabilities at prescribed rate.
     Scheduled bank include nationalised banks, SBI and its subsidiaries, Private Sector bank and
foreign bank.

b). Non scheduled banks;
                                                                                                  
     Non scheduled banks are those which are not include in the 2nd schedule to RBI Act.
     They are not entitled to get facilities like refinance and rediscounting of bills, etc. from RBI.
      

BANKING SYSTEM

BRANCH  BANKING
The banking system of England originally offered.

commercial bank has a network spread throughout the country.

Large  number of branches.

All the public sector banks  i.e., Nationalised  banks, SBI bank,  Subsidiary banks etc,

The branch banking operate under this head office.

TAGS; DE-LOCALISED BANKING