thesis on retail banking in india

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Thesis on retail banking in india

Respondents were of view that Branch personnel had listened to them patiently and have been able to respond to their queries and clarifications. With reference to table no. Retail banking offers multiple comfort factors for banks to do business. Large and divergent customer base across income segment offers huge scope for banks to develop and offer multiple products and services.

In addition to traditional products and services offered by banks over the years, the retail model has undergone rapid innovation in the past decade with regard to products, processes, people and technology. Banks are embracing different strategies, redesigning their conventional business silos, reengineering their channels, product and services to increase the share of customer wallet.

It operates mainly through branch networks. Retail banking includes routine transactions like deposits and withdrawals of money; money transfer; foreign currency exchange and traveller's cheque encashment. They also deal with personal and small loans, credit and mortgages; insurance policies; investment schemes; pension funds; and advice to customers on various financial matters.

Apart from offering home loans, car loans, educational loans, consumer loans, etc. Corporate Banking: They deal with medium to large-scale companies and government agencies. It could start at the local branch manager level, though more complex dealings are routed through corporate divisions of clearing banks and their merchant banking subsidiaries. Corporate banking deals with credit and advances, trade finance, foreign exchange management, asset management, lease financing of heavy equipment, infrastructure, machinery, credit risk assessment, etc.

They also advise clients on matters such as corporate mergers and acquisition, raising capital and business strategy regarding competitors and outside factors. Merchant Banking: Investment management is the primary activity of this group. It could be on behalf of corporate clients, or institutional investors-like pension funds, investment trusts, or those in the securities business. This groups also handles public issue and marketing of shares, debentures and other such papers.

It may also include other stock market functions like dematerialization services, investment advisory services, etc. Merchant banking executives research into capital market, advice and manage funds of various corporate and individual customers. Treasury group: This group takes care of the total funds of a bank including foreign exchange reserves. Responsibilities include bank portfolio management, dealing in foreign currency, etc.

There are Forex foreign exchange dealers in this group who exclusively deal with the foreign market. They buy and sell foreign exchange at the minimum exchange cost thereby earning maximum profit from the transactions. Rural Banking: This group deals with the banking and credit needs of people in the rural sector. Not all banks have this group and some banks have separate subsidiary companies for rural banking. Product Management: This group conceptualizes various banking services and then develops; implements and manages them.

They have the responsibility for a banking product meaning services like personal loans, home loans, credit cards, loans against shares, educational loans, etc. Apart from these main functional groups, there is an appraisal group to analyse economic feasibility of industrial projects, the bank's exposure to financial risk and long term returns. There are internal auditors who audit the bank's internal books of accounts.

There are various groups of professionals like lawyers, engineers, agricultural scientists, chartered accountant, company secretary, cost accountant and economists who work in various departments in advisory capacities. They help make decisions on issues that are legal, technical or economic in nature.

For example, the economist advises various functional groups on the implications of the Union budget on the business of the banks, consumer buying pattern, etc. There are two main reasons behind this. Firstly, it is now undeniable that the face of the Indian consumer is changing. This is reflected in a change in the urban household income pattern. The direct fallout of such a change will be the consumption patterns and hence the banking habits of Indians, which will now be skewed towards Retail products.

At the same time, India compares pretty poorly with the other economies of the world that are now becoming comparable in terms of spending patterns with the opening up of our economy. The comparison with the West is even more staggering.

Another comparison that is natural when comparing Retail sectors is the use of credit cards. Allahabad Bank which began operations in , has its head head-quarters in Kolkata is the oldest joint stock bank in India. The bank was founded in Allahabad in and as of 31 March now has over branches throughout India.

The bank has a branch in Hong Kong and a representative office in Shenzen. Nainital, 20th century In the early 20th century, with the start of Swadeshi movement, Allahabad Bank witnessed a spurt in deposits. In the bank moved its head office and the registered office to Calcutta for reasons of both operational convenience and business opportunities.

However, Chartered Bank continued to operate Allahabad Bank as a separate entity. On 19 July , the Government nationalised Allahabad Bank, together with 13 other banks. The IPO reduced the Government's shareholding to Then in April the bank shareholding conducted a second public offering of 10 crore of shares, each with a face value 10 and selling at a premium of This offering reduced the Government's ownership to In June the bank opened its first office outside India when it opened a representative office in Shenzen Mainland China.

In March, the bank's business crossed the 1 million crore mark. Personal Banking 2. Social Banking 3. MSME Banking 4. Corporate Banking 5. International Banking 6. Other Services 20 Road Kolkata — 23 Bank has also arrangements with correspondents at various important overseas locations, which will ensure extending to all our NRI customers rich banking experience. We understand your needs and value your patronage and would request you to invest your surplus funds in the various products offered by our Bank.

Non — Resident: A. A person of Indian Origin who is a citizen of any other country other than Bangladesh or Pakistan if: i. The persons are a spouse of an Indian Citizen or a person referred to in sub clause b i or ii above. Students going abroad for studies are treated as Non Resident Indians provided their stay abroad is for more than days in the preceding financial year and broad their intention to stay outside India for an uncertain period when they go abroad for studies.

In respect of Repatriable scheme the NRIs have the choice of following schemes for depositing their savings with Our Bank. Discretionary Authority under Various Retail Schemes. It looks at the seven key elements that make the organizations successful, or not: strategy; structure; systems; style; skills; staff; and shared values. The model shows that organizational immune systems and the many interconnected variables involved make change complex, and that an effective change effort must address many of these issues simultaneously.

The 7-S diagram illustrates the multiplicity interconnectedness of elements that define an organization's ability to change. The theory helped to change manager's thinking about how companies could be improved. It says that it is not just a matter of devising a new strategy and following it through. Nor is it a matter of setting up new systems and letting them generate improvements. Shared values are what engender trust. Values are the identity by which a company is known throughout its business areas, what the organization stands for and what it believes in, it central beliefs and attitudes.

They refer to the procedures, processes and routines that are used to manage the organization and characterize how important work is to be done. How management acts is more important that what management says. In other words, structures describe the hierarchy of authority and accountability in an organization, the way the organization's units relate to each other: centralized, functional divisions top-down ; decentralized the trend in larger organizations ; matrix, network, holding, etc.

These relationships are frequently diagrammed in organizational charts. Most organizations use some mix of structures - pyramidal, matrix or networked ones - to accomplish their goals. Shashank Saksena Shri A. Skills can be classified broadly into highly skilled and semi skilled routine work. Various training program are organized regularly to impart training needs of the employees.

What are they focusing attention on? Symbolism — the creation and maintenance or sometimes deconstruction of meaning is a fundamental responsibility of managers. Building a high performance culture is another key prerogative of the HR function. Allahabad bank envisage a credible and transparent performance management process that helps in aligning individual goals with corporate objectives, both quantitative and qualitative, and encourages cross sell and team spirit.

Allahabad bank performance management process will be supported by a robust rewards and recognition strategy for each business and a market based compensation structure that is flexible, responsive and helps retention through asset building and wealth creation for top performers. STRATEGY Being one of the leading banking institutions with rich culture of professionalism the bank has various strategies to tackle with competitors in the market.

The bank has the strategy to make use of the growing potential of the rural sector as well as the global academy, the business landscape will be changing magically and so will the financial service need. The bank has the strategy to enhance the reach of anytime and anywhere banking. With the growing of the net banking the bank have several new products and facilities with state-of-the-art facilities, enabling you to conduct all your banking activities using your personal computer, from the comfort of your home or office.

Thus providing you with secure, 24 hour access to all your accounts from anywhere in the world. On successful validation you will be allowed to select an Internet password. It's that easy. This password enhances your Internet Banking security and allows you the freedom of banking without remembering multiple passwords. You can also request for multiple Demand Drafts at various locations and set up standing instructions for your account to execute routine payments SYSTEM Formal and informal procedures that support the strategy and structure systems are more powerful than they are given credit.

The bank follows a systematic procedure at all the levels. The bank has very good performance appraisal system, training and development system, resource allocation system, distribution and recovery system. The instructions flow from top management to lower levels of management. This process of aligning individual and organizational goals was termed as the performance management process.

The main objective of these innovative performance management practices was to encourage the employees to think innovatively. Allahabad Bank has planned to steadily increase its presence in retail business. Earlier bank has purposely maintained a low-key presence in the retail market, now is planning to increase exposure in this segment. Occasionally link failure.

Door step services. This project is on the issues and challenges in the retail banking because of the competition of the various banks and the customer satisfaction of the services which the banks are providing and at the same time to solve the complaints of the customer and maintaining the sound relationship for the future and by this way to estimate the future growth of the retail banking.

To ensure high satisfaction level and reduce percentage of complaints of customer in retail banking. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. The primary sources of data collection are done through: Observation Questionnaire Questionnaire: Questionnaire is the method of data collection, which is very much popular, particularly in big cities.

Different modes of questions are put up on the paper and the particular universe, on which the research is conducted, are asked to fill their responses. Company Website. Since it was not possible to cover the whole universe in the available time period, it was necessary for me to take a sample size of 50 respondents.

Probability Sampling 2. Non-Probability Sampling 3. Quota For this research work Non- Probability Convenience Sampling has been chosen because time limit for the completion of the work is limited. Primary Data: The data are collected directly from the universe by conducting interviews, etc. All the people from different profession were personally visited and interviewed.

They were the main source of primary data. The method of collection of primary data was personal direct interview through a structured questionnaire. The primary data was collected by means of survey. Questionnaires were prepared and customers of Allahabad Bank were approached to fill up these questionnaires. The filled up information was later analyzed to obtain the required information. Secondary Data: The data are collected from the secondary sources such as magazines, journals, etc.

These sources consist of already variable data in the form of statements, and reports, which may include sensory reports, financial statements of the company, reports of governments departments, etc. It was collected from internal sources. Both Primary and Secondary sources was used for data collection. For primary source, Questionnaire was used.

For secondary source Internet, Books and Newspapers etc were used. There are three types of Research Design Exploratory Research Design 2. Descriptive Research Design 3. Casual Research Design For the study, Exploratory Research Design was undertaken to classify the investors on their risk and return profile. The table and graph were constructed using data from the questionnaire through simple techniques like average, percentage, etc.

Customers now-a-days prefer net banking to branch banking. The banks that are slow in introducing technology-based products, are finding it difficult to retain the customers who wish to opt for net banking. Customers are attracted towards other financial products like mutual funds etc. Though banks are investing heavily in technology, they are not able to exploit the same to the full extent. A major disadvantage is monitoring and follows up of huge volume of loan accounts inducing banks to spend heavily in human resource department.

Long term loans like housing loan due to its long repayment term in the absence of proper follow-up, can become NPAs. The volume of amount borrowed by a single customer is very low as compared to wholesale banking. This does not allow banks to exploit the advantage of earning huge profits from single customer as in case of wholesale banking. Opinion on Branch experience. The Branch timings am to pm from Monday to Friday and am to pm on Saturday are convenient?

None of the customers have any problem with resp to timings. Is the Branch was clean and well maintained? Opinion of the customer regarding Branch personnel. Is the branch personnel have listened to you patiently and have been able to respond to your queries and clarifications? Is the branch personnel have been very helpful and courteous?

Crop loans to agricultural farmers Credit Cards, etc. Some figures. Recently, retail lending has turned out to be a key profit driver for banks with retail portfolio constituting Customer tendency to borrow more and repay less may affect NPA levels Future delinquency rates are not properly factored in fixing the Retail credit pricing Increased risk weight of Consumer Credit Liquidity mismatches may emerge as an issue Slight change in economic scenario may affect the whole system Existing Retail scoring models may not predict impact of mild recession.

Lack of Credit information of Retail customers from the Banking system CIBIL is addressing the issue only to a certain extent No system to eliminate multiple finances, including Personal Loans Higher level of NPA from Personal Loans Higher Loan-to-value ratio may emerge as a problem during recession Sale of assets- bank has no control- in the case of Consumer Credit Growing incidents of frauds and cyber crimes Common features of retail loans Retail loans have certain common characteristics or features.

These may be broadly classified as follows:. Retail loans are to individuals for acquiring assets for individual use- such as car, white goods, residential property etc or for general consumption purposes which includes education. Retail loans are small value loans Each loan in a retail loans portfolio is a very small portion it does not constitute more than 0. The surplus has to be adequate to repay the new loan sought within a. A bank cannot grant loans for any length of time depending on the repayment available.

Retail loans should be repaid within a short period except in the case of housing loan. The repayment period of different types of retail loans may be as below:. Personal loans for consumption- Two to three years; in certain cases like vacation travel, the period of repayment be 12 months. Retail loans for consumer goods- not exceeding three years Vehicle Loan- five to seven years Housing Loans- five to twenty five years though usually 15 years is the norm Educational loans Maximum of 10 years after completion of course though usually the period given is 5 years from completion.

In line with the character of retail loans, the eligibility conditions for availing any retail loan is that the borrower must be an individual or a group of individuals who have a regular income in excess of their living expenses with an adequate surplus that will be adequate to service the retail loans availed. The main criteria are the loans are to individuals, singly or jointly and that the individuals have a regular income.

Of course, the applicant should be a major and be of sound mind and not an undischarged insolvent. Proof of identity and place of residence The borrower must be properly identified; KYC norms are applicable to borrowing accounts also. Further, the bank cannot give loans to any one without establishing his identity as the bank has to recover the loan with interest.

Hence, the applicant for a retail loan has to show proof of identity establishing that he is what he claims to be. Photo identity is required; the usual photo identification process calls for any of the following to establish identity:. Net income after deductions towards existing liabilities for which the salary paying establishment recovers the instalments and the income tax payable, if any is the regular income that the applicant receives.

Other recoveries If the applicant has other existing loans, the loan instalments for which have not already been deducted from salary, these have to be provided for from net salary to arrive at the repayment ability. In case of self employed persons the bank has to rely on the disclosed income such as the income tax returns for the past three years which will give an indication of the average income. Proof of other commitments and repayment record The salary slip given by the applicant may not give the deductions being made from salary in respect of other commitments of the applicant and the position of the various liabilities of applicant may not come to light.

Since we still do not have a system to collect all institutional loans availed by a person, the lending bank has to rely on the disclosures made by the applicant in respect of the other liabilities and repayment commitments. To ascertain the willingness to repay and the tendency to honour obligations, bank usually asks the applicant to show proof of repayment such as the credit card statements, and repayment records of past loans and other commitments.

These can be established through bank statements. Credit Agency Report Credit agencies such as CIBIL have records relating to credit card and other personal loan defaults of borrowers of all member banks. A report from the credit agency will give information about the defaults if any made by applicant. The agency report is only a negative report if repayment record in respect of liabilities contracted by applicant is good.

Purpose The applicant in his application has to furnish the purpose for which the loan is sought. Retail loans are for acquisition of personal assets or for general consumption purposes. The repayment period depends on the surplus available towards loan servicing and is dependent on the expected repayment capacity. The Bank may stipulate a maximum period for repayment of a certain category of retail loan for instance 25 years in housing loan.

However, this period is not available to all borrowers. In fact, depending on repayment ability, the bank will stipulate repayment conditions on a case to case basis varying from 5 years to a maximum of 15 years. Equated Monthly Instalment EMI is the monthly amount payable which includes interest and principal amount towards repayment. EMI depends on the loan amount and the tenure of the loan which is based on the repayment ability. EMI and tenure of loan. In an EMI loan, major portion of the instalment goes towards interest in the initial stages and only a small part is towards the principal debt.

As the principal debt decreases, the interest amount also decreases and in the later stages, major portion of EMI goes towards reducing principal part. EMI calculators are available which give the amount of EMI for a given tenure 3years, 5 years, 10 years, 15 years at given rates of interest for a certain amount of loan Rs 1lac.

The tenure of loan is based on the repayment ability. If repayment ability is strong, the tenure may be low- say 3 years as against a normal repayment ability which may require a 5 year repayment period. Post Dated Cheques PDC s are cheques drawn by the borrower to be paid in future to the debit of his account with a bank other than the one from whom he has borrowed and each cheque is for amount of EMI and the cheques are dated payable on the same date every succeeding month.

For instance, a borrower may have availed a personal loan from X bank for Rs 50, for a period of 12 months in Jan He has a deposit account with Y bank. If the EMI is Rs per month, he gives 12 post dated cheques all of which fall due on 7th of the month following the month he has availed the loan. Then the lending bank X will raise a ECS debit on his account with bank Y and the borrowers account gets debited automatically if sufficient fu nds are available in the account.

If the borrower has a deposit account with the lending bank, he may give standing instructions or an authority to debit his account on the 7th of every month starting from Feb to Jan towards EMI on his loan account. Standing Instructions. One may ask if the borrower can give standing instructions to his Bank Y to debit his account with them every on the 7th from Feb with Rs towards EMI till 7th Jan and pay to Bank X.

This is certainly possible but in this case, Bank Y will issue a pay order or Bankers cheque and dispatch the instrument to Bank X and for this the Bank will collect the charges for pay order issue and also the courier charges. Resources have a cost and the cost of borrowing is the interest. Interest charged by the bank on a loan is a function of various factors such as. Cost of funds cost of deposits and borrowed funds Operational cost Cost of establishment and running the bank Capital Cost Cost of capital or the return to be given to the shareholders Risk Cost default premium Interest is risk premium.

Interest on retail loans carries a uniform risk cost as these are small value loans. Further, this is a profitable segment of business. Hence spread interest received interest paid will be high. Interest is compounded monthly. Rate of interest is generally uniform in each category of retail loans- personal loans carrying the highest with housing loans being charged the least. The rate of interest charged on a loan may be fixed at a certain percentage during the entire tenure of the loan.

In this case interest rate will not be refixed. For instance a housing loan for 15 years may carry a fixed rate of interest at 8. Through the life of the loan, interest will be at 8. However, banks now include a reset clause that the interest may be rest at fixed intervals or in the case of certain events Rate of Interest- floating. The rate of interest is linked to a benchmark such as the prime lending rate.

So as and when prime lending rate varies depending on external conditions, bank will revise the PLR and the rate of interest on retail loan is which is linked to PLR will automatically change. Benchmark may be the 5 year deposit rate and period of refixing may be every 6 months; so every 6 months, the interest on loan will be refixed and it is said to float. When interest rates are declining, it is preferable to have loan on floating rate while if interest rates are on the rise, fixed rate loans are better from the borrowers viewpoint.

Option to change from fixed rate to floating rate and vice versa. Banks permit change over from fixed rate of interest to floating rate and vice versa; however the banks collect a charge for such a switch to compensate them for the likely loss of interest. Pre Payment Charges In case of long tenure loans, banks charge a pre-payment premium in the event of premature closure of the loan.

No bank will allow loans to turn NPL without trying it best to collect the dues. Recovery of loan and interest is a very important function and ensuring recovery of principal and interest makes the portfolio healthy and performing. The concept of margin arises only in secured advances where lending is against an asset. Bank provides loan for a given purpose say for buying a four wheeler- as a percentage of the asset value; in this instance, if the price of automobile is Rs 4 lacs, bank will not give Rs 4 lacs as loan and may at the most give Rs 3 lacs for a period of 5 years or 7 years depending on the repayment ability and its assessment of borrower.

The amount of Rs one lac which borrower has to bring is the margin amount and it is his stake in the car. Borrower has to have a stake in the asset. Apart from that, in case of default or any other circumstances, it may be decided to sell the car. If the sale proceeds are less than the balance in loan account, bank runs a risk that the balance may not be paid by the borrower.

The fluctuations in asset price give rise to a risk and to protect against this risk, the banks restrict the lending to the market value less a discount. This discount is known as the margin. This discount is the borrowers contribution. So margin is known as the borrowers stake.

It is also the discount to the market value and bank will finance only market value less the margin. It is the safety factor for guarding against price fluctuation. The third party guarantee is a risk mitigating measure. The borrower has to provide a third party as a guarantor who undertakes to pay the bank the sum at default in case the borrower does not pay.

In most bank documents of third party guarantee the guarantor waives his rights under the Contract Act and confirms that he can be treated for all practical purposes as the borrower. So in case of default, bank can proceed against borrower and guarantor simultaneously in a court of law and if any tangible asset of the guarantor is given as security of guarantor, bank can proceed to enforce the security.

The third party guarantee in some states that in consideration of the bank granting a certain loan amount to the borrower, the guarantor agrees to stand guarantee to the bank for the sum stated together with interest and in case the borrower does not repay on demand, the guarantor will pay the amount due on demand and that for all practical purposes, the bank may treat him as the borrower.

The third party guarantor must be well known to the borrower and have full trust in him to undertake to give the guarantee. A financially sound and trust worthy third party guarantor is a good security to the bank. In the case of retail loans which are secured by assets, bank does not usually give the full value of security as loan amount. The asset values are subject to volatility and hence as a prudent measure, the loan amount is a proportion of the asset value.

It is also a measure of the borrowers own stake in the asset. Security Security is a risk mitigant -an insurance against default. If the borrower defaults, bank should have something to fall back upon and realize its dues. Security is like insurance; it is a fall back and in case the repayment is not forthcoming, steps can be taken to enforce the security. Security is not available in case of all retail loans.

Retail loans such as housing loan, vehicle loans may be considered as secured loans where the security is the charge on the assets acquired. Loans for acquisition of white goods- generally known as consumer loans- require the charge on assets acquired it is in effect unsecured as taking possession of such consumer goods is practically impossible and the resale value of such assets is quite low.

The banker lends for a purpose which will generate additional income from which he hopes to get the loan and interest repaid. Security is called the second way out and is a fallback or secondary. The significance of security is that it is a fall back in case the expectations of additional cash inflows do not happen. Naturally all values of securities are volatile and hence the concept of margin on security.

The assets of borrower created from banks loan or his other assets are charged as security to the banks loan. The process of creating the charge on the assets of borrower to form the security is known as the mode of charge. These are briefly discussed below:. Lien and appropriation Lien this is the right to retain; a banker has a general lien on all properties which come to him in the normal course of business.

A banker can retain proceeds of a cheque, a fixed deposit or any other instrument or property belonging to the borrower which comes to the banker towards amounts owed by the borrower. Appropriation or the right of set off- Banker can appropriate or set off credit balances with debit balances of the borrower provided both accounts are in the same name and same mode Pledge Pledge- Bailment of movable goods as security for moneys borrowed.

Banker can sell the goods kept with him in pledge after giving notice of sale. Borrower retains the title to goods while the possession is with the bank. Hypothecation- also called the floating charge on movable assets. In hypothecation the borrower is the owner of the goods and the possession is also with him. He can deal with the goods in any manner in the normal course of business.

The floating charge becomes crystallized when the banker takes possession of the hypothecated goods. Mortgage- Mortgage charge is a creation of an interest in a specific propertyusually immovable but mortgage charge on movable is also possible. Mortgages are of different types- Registered mortgage, equitable mortgage, Usufructary mortgage, English mortgage etc.

Assignment- Assignment of future receivables can be made by way of notice. For example - A policy of life insurance can be assigned to the bank as security and the value of the security is the surrender value of policy Third party guarantee. Third party guarantee is an assurance from an independent party of known means and respectability to the bank that the loan to the borrower is guaranteed by him and that if the borrower does not pay the bank as per the terms agreed to by the borrower, he the guarantor will make good the loss.

The third party guarantee reduces the risk of the bank to some extent. The risk, that the guarantor, in spite of his assurances and undertakings, may not pay when called upon to do so in the event of default by the borrower, still persists.

The comfort that is derived from a third party guarantee is only that you have another person who can bring some pressure on the borrower to repay and also have recourse to the guarantor for recovery of dues. Retail loan sanctions are mostly automated. Based on the details given in the application credit scores are worked out as per the model and depending on the cut off score the application is approval or rejected.

Since a large number of applications are centrally evaluated using the scoring model based on defined parameters very little scope for discretion is given. It is to be borne in mind that the scoring model has been built on observed trends of transactions and default history. So normally, rejections of applications are not subject to a review. Either the application goes through the gate or crosses the hurdle credit score is accepted or is rejected.

To ensure that the model is working well and is not rejecting applications which would qualify, a review of the rejected applications is undertaken periodically. This along with a portfolio review of the performance of approved loans will give an indication of the suitability of model. Decisions in various Processing Segments of Consumer Credit. In some cases, the approval process may have rejected on the basis of credit score Credit Score being less than the cut off.

However, it may be that the applicant is offering good security or the guarantee of a third party that has an excellent account with the bank. These factors may not be captured by the model. Quite often, retail loans are sanctioned to persons on the. These are deviations from the regular sanction of retail loans.

Record of deviations. Deviations have to be sanctioned by a superior authority The sanction of such loans has to be in writing explicitly stating the reasons for deviation from practice. For instance, if an application which would normally have been rejected on the basis of credit scoring is approved on the strength of the guarantors dealings with bank and his standi ng in society and ability to repay the advance in case of default, the sanctioning authority will make a note of these factors and record the treasons for the sanction.

It is needless to add that the deviations from the approved practice for retail loans will a small percentage. Methods of disbursement: consumer and vehicle loans. Disbursement methods vary depending on the purpose In case of assets being acquired such as consumer goods and vehicles, the practice is to collect from the borrower the margin amount and to debit the loan amount to borrowers account and the full cost of asset is paid to the seller of asset by means of a pay order or Bankers cheque.

Methods of disbursement: Home loans. If the loan is towards acquiring plot and constructing house, the disbursement will be in stages- first to the seller of the land and for the construction the disbursement will be to the building contractor at predetermined stages.

In the case of personal loans, the loan amount being for consumption purposes, the loan amount will be debited to borrowers loan account and will be credi ted to his savings account if the borrower has account with the bank. In cases, where the borrower does not have a savings account, the loan amount will be debited and a pay order issued favouring the borrower or as per instructions given by the borrower. Methods of disbursement: Educational loans.

When the loan amount covers hostel expenses also, the room rent is paid directly while the mess charges incurred are reimbursed to the borrower on his production of paid bills. Discharge of Security. Security given to the bank for due repayment of the loan is to be released or discharged upon the closure of loan through repayment by periodical payments or prepayment. Security in case of secured assets may be in the form of pledge, mortgage, assignment, hypothecation etc.

When the loan is repaid, it is necessary for the bank to release its charge on the asset given as security. In case of pledged articles, all that the bank has to do is to return the goods lodged with it as security. In case of motor vehicles the banks charge on the vehicle will have been registered in the books of Road Transport Authority and will be shown in the RC book.

The bank has to give a letter to RTA for deletion of the charge in the RC book in the prescribed format. In case of mortgages, if mortgage is by deposit of title deeds, discharge is by return of title deeds. However, if the mortgage is a registered mortgage- simple or English. Mortgage- this will be registered with the Sub Registrar of Conveyances and has to be discharged through a stamped document duly signed by the bank stating that the loan has been paid in full and the mortgage is discharged.

This release document has to be registered with the sub registrar who will enter the discharge in his books. Assignment of policy or future receivables has to be reassigned on the account being closed. This is also through a written document and the reassignment is noted in the books of the debtor; for example in the case of a life policy, the assignment at the time of creation of charge and the reassignment upon release will be registered in the books of the insurance company.

Regulatory requirements of Retail Loans. Exposures by way of investments in securities such as bonds and equities , whether listed or not;. Mortgage loans to the extent that they qualify for treatment as claims secured by residential property;. Capital market exposures; Consumer credit, including personal loans and credit card receivables; Venture capital funds.

Qualifying criteria. Orientation criterion - The exposure is to an individual person or persons or to a small business; Person under this clause would mean any legal person capable of entering into contracts and would include but not be restricted to individual, HUF, partnership firm, trust, private limited companies, public limited companies, cooperative societies etc. Small business is one where the total average annual turnover is less than Rs.

The turnover criterion will be linked to the average of the last three years in the case of existing entities and projected turnover in the case of new entities. Product criterion - The exposure takes the form of any of the following: Revolving credits and lines of credit including overdrafts , term loans and leases e. One way of achieving this is that no aggregate exposure to one counterpart should exceed 0.

Aggregate exposure means gross amount i. In addition, one counterpart means one or several entities that may be considered as a single beneficiary e. While banks may appropriately use the group exposure concept for computing aggregate exposures, they should evolve adequate systems to ensure strict adherence with this criterion.

NPA s under retail loans are to be excluded from the overall regulatory retail portfolio when assessing the granularity criterion for risk-weighting purposes. Low value of individual exposures. The maximum aggregated retail exposure to one counterpart should not exceed the absolute threshold limit of Rs. Regulatory guidelines. For the purpose of ascertaining compliance with the absolute threshold, exposure would mean sanctioned limit or the actual outstanding, whichever is higher, for all fund based and non-fund based facilities, including all forms of off-balance sheet exposures.

In the case of term loans and EMI based facilities, where there is no scope for redrawing any portion of the sanctioned amounts, exposure shall mean the actual outstanding. Banks exposures which satisfy all the criteria prescribed for inclusion in the regulatory retail portfolio, irrespective of the sector to which the exposure is, may be included under the regulatory retail portfolio if such exposures have not been specifically addressed.

Why does a customer make a deposit with a banker? Deposits made with the bank are in the nature of debts of a bank Deposits are not moneys given in trust If there are such conditions attached to the deposit, the banker cannot lend or invest the funds using his best judgement to produce the best returns with the least risk exposure. Such relations do exist between bankers and customers but they are special.

Deposit: conditions. With internet banking, deposits into an account are possible from any centre. Also transfers. ATMs offer cash withdrawal from any centre. Customer: Unsecured creditor. On the issue of repayment, the customer is in the position of an unsecured creditor. If bank goes into liquidation, customer's claim will rank along with other creditors of the bank.

However, all deposits are guaranteed up to a limit of Rs1,00, by the Deposit Insurance Corporation Retail Deposits. The banks deposit portfolio consists of a large number of current, savings and term deposit accounts. Of these savings and term deposits come mostly from individual savers. These deposits are small in value and large in number. Groups of individuals have a saving and spending pattern. So, at any given point in time, a core portion of SB and current account funds will remain with bank.

Similarly Current accounts of small firms, traders and other business also display definite characteristics of deposits and withdrawals and balances with the bank. The trend is also seen in term deposits. A core portion of term deposits will get renewed and funds will stay with banks. These types of deposits are known as retail deposits.

Retail deposits, in general display lower volatility than bulk deposits. They also display definite patterns of withdrawal and deposit cycles. Banks plan their asset growth based on such patterns. Interest on deposits related to market rates. Prior to financial sector reforms RBI used to prescribe interest rates for all maturities and neither the banker nor the customer had a choice in the matter.

However, with liberalisation banks are now free to quote market interest rates. The rates change as often as RBI changes benchmark rates or even in response to economic conditions. Obligations of a bank. Obligation to honour cheques: A banker has an obligation to honour cheques drawn on an account opened by him, provided the account is in funds. Obligation to maintain secrecy: A banker is bound to maintain secrecy about the details of the customers account with him.

This obligation is subject to disclosures when compelled by law. Obligation not to close account without notice: Having opened an account for the customer, the banker has a contractual obligation to maintain and service the account. If the banker has sufficient reasons to consider the account undesirable, in terms of costs of maintenance, or other reasons he can close the account after due notice to the customer. The notice is necessary to provide for transactions in the pipeline to be completed, or contemplated by customer.

Demand deposits. Current and Savings Bank deposits are knows as demand deposits. These are plain vanilla deposit products that banks offer to customers who require a bank account for making payments, or use money readily available to meet day to day expenses.

People prefer a bank account for keeping their savings that would fetch them some small interest. Additionally bank deposits provide safety to the savings, unlike cash kept in houses which do not produce any return and there is the further risk of theft.

A current account is a running account. Unlimited operations. The basic objective of a current account is to facilitate use of cheques for payments and avoiding cash dealings. Current accounts constitute low cost deposits for a bank However banker plans liquidity to meet demand for funds. SB account rules limit drawings; interest is paid at 3. There are other servicing costs: cheque books issued, ledger or nowadays digital records maintenance costs.

Core SB and Current accounts. Demand liabilities are at call by the customers. In practice it is not so. A certain amount of these deposits would stay with the banks as core balances in the Savings and Current account balances of the bank. These core funds are available as long term resources to the banks and are available for lending and investment.

Of course, banks do not earmark funds for lending as so much out of current account, so much out of savings account etc. They lend out of a pool of funds. The bank offers a savings account in two options. The second option, known as the sweep-in account combines the feature of a fixed deposit and a savings account.

With no minimum balance requirement, one has to keep a fixed deposit of Rs. Here again non -maintenance will attract a penal charge of Rs. Deposits are held in units of Rs. One can even jump from option 1 to option 2. However, this will attract an account closure charge of Rs. A term deposit is about the safest investment option for a saver who has funds that he can invest for a definite period of time.

It is the most attractive option that combines with it an element of safety. Bank deposits are guaranteed up to a limit of Rs. Term deposits are accepted for a period up to 10 years. But, deposits are accepted up to a maturity of 3 years.

The reason being neither the banker nor the customer is willing to commit to an interest rate that far into the future. Term deposits- maturities. To begin with banks were only short term lenders; their loans were for short periods and generally for not more than a year. So, their need for resources, i. As banks started lending for medium term up to three years and later for longer periods, they needed deposits with longer maturities.

Changes in the demand for credit, changes in savings patterns of customers, have compelled the banks to come up with variations in term deposit products Term Deposits- Changes in maturity range. Although banks did not offer intermediate maturities i. The need for offering suitable maturities led to term deposits with maturities starting from 3 months to 10 years.

Banker would prefer to handle fewer term deposit maturities and preferably not short term. But the driver is the availability of funds of certain maturities and the bankers needs. At least to begin with there was no marketing for deposits on the part of banks. When banks needed more funds for more credit they had to change their product orientation to meet customer expectation and not the banks convenience.

They came up with term deposit as a product. Again, to begin with banks were short term lenders making loans up to a years duration. So term deposits started off as short term one year deposits. Next step in the process was when a customer having made a deposit for a definite period had urgent need of funds and asked the banker to pay him back the money.

This gave rise to some new products: a premature payments and levy of penalty b overdrafts or loans against fixed deposits with higher rates of interest and c term deposits of varying durations to suit the needs of both customers and the bankers. The first two would be innovations of asset products while the third a new set of liability products. Based on the patterns of a large number of customers deposit maturities were set at 3 months, 6 months, one year, above one year, two years and so on.

In India, new products and product innovations have not been always driven by market forces. Until the financial sector reforms in , RBI stipulated both interest rates and the periods for term deposits. For a considerable period of time deposits below 3 months were not permitted. With maturing markets and the investing publics ability to understand and use short term products, RBI dismantled controls and deposits with 15 days and later 7 day maturities have come into being.

Another innovation-reinvestment deposit. Interest accruals added on to principal with quarterly compounding of interest on principal plus interest. Product was attractive to a class of investors who were not dependent upon periodical interest income. Cash Certificates: another variant.

Certificate issued with an upfront discount on face value. The discount is the rate of interest payable on the deposit Recurring or Cumulative Deposits. Recurring deposits or cumulative deposits are those where the deposits are made in monthly instalments and the maturity payment is a lump sum.

Special deposit is a variant allowing recurring or periodic deposits at intervals other than monthly i. Annuity deposits and Permanent income or Pension plans were another development with periodic deposits sometimes annual build up into a corpus and then the bank pays out monthly amounts for an agreed number of years akin to a pension.

On fixed deposits or term deposits the banks pay interest at quarterly intervals. However if a customer wants monthly interest they make such payments discounting the quarterly interest amount. Flexi Deposits. Flexi deposits: partly a response to customer demand for return on large current account balances and partly because technology made it possible to offer such a product.

Technology makes it possible to hold a term deposit in small units of Rs. So exact amount required to meet a cheque could be made available and balance in term deposit would continue to earn interest. Such term deposits are sometimes called Multi-option deposits or flexi deposits Auto sweep and Reverse sweep. Where a customer has two accounts, one in funds and the other with inadequate funds to meet the cheque drawn on the latter account, the operating software of the bank can be programmed to automatically transfer funds to the latter accounts to meet the cheque.

This facility is called sweep- sweeping funds out of the account with funds into the one requiring funds. Reverse sweep is a facility which offers the customer a choice to transfer idle funds out of an operating account into one that would earn him some interest income.

Supersaver account. Yet another product is the super saver account. With a minimum amount of Rs. Auto Renewal. A bank account is a means of keeping ones savings safe, keeping a record of ones savings and expenses and earning some income on the money. Bank accounts also provide a means of payment of dues, settlement of debt, payment for purchases etc. A means that is more convenient than lugging cash around everywhere and facing the risks involved in carrying cash, especially to distant locations.

Opening accounts. Bank account creates a legal and contractual relationship between banker and customer. Bankers duties and obligations are onerous. Therefore a banker has to exercise care when he opens an account. Before opening a new account banker should make inquiries about customer, his profession or trade, nature and purpose of account he desires to open.

If the person is unknown the banker must ask for introduction from a person known to the banker or call for references. RBI has directed that bankers must ask and find out from the referees how long they have known the customer who is being introduced to the bank.

If proper enquiries are not made at the time of opening the account and subsequent events lead to a fraud being committed, then the banker will be held to be negligent and will not enjoy the statutory protections available to him under S. Opening accounts: individuals. There are risks in opening accounts for individuals or even firms. A person could be an undesirable individual who could be depositing stolen funds in to the bank. As per RBIs directives, banks must obtain photographs of customers while opening the account.

A copy of the photograph is kept with the signature card and another is pasted to the passbook, if a passbook is issued. KYC processes ensure that banking operations are clean and help banks in transparent and legal conduct of business, maintaining the integrity and reputation of banks.

Complying with legal requirements Understanding customer needs and extending requisite services Customer profiling according to size, habits, types preference etc And to categorise them into risk classes. Prevent banks from being used intentionally or unintentionally by criminal elements for their money laundering activities To help banks know their customers and their financial transactions and by this to manage their risk prudently.

RBI expects all banks to have comprehensive KYC policies evolved and adopted by their Boards and put in place processes to ensure that these policies and procedures are faithfully implemented. No fictitious accounts to be opened in anonymous fictitious or benami names No accounts to be opened, or existing accounts continued without due diligence with regard to id of customer, availability of evidential documents on proof of domicile etc,. Ensuring that the new or existing customer is not an undesirable person i.

He is not a person with a known criminal background, does not belong to a banned entity like a terrorist organisation he is not a violator of law etc. When a customer desires to act on behalf of another person, an analysis should be made on the circumstances under which such operation is required the type and size of such transactions do not infringe the law of the land.

Document requirements and other information to be collected in respect of different categories of customers depend upon the risk perception and relate to provisions of Prevention of Money Laundering Act. Customer Identification processes:. Verify the identity of that person Understand the ownership and control structure of the customer and determine the natural persons who ultimately control the entity. The banks policy and procedures should clearly help parameterise the type and normal size of transactions in a customers account.

It should be possible through procedures to quickly identify an ICICI BANKormal transaction like one that falls outside the normal level and pattern of activity recorded for initiating further enquiry. It should facilitate special attention on all complex, unusually large transactions, suspicious patterns that violate laws of the country.

It should ensure that no structuring i. Very high account turnover inconsistent with balance maintained or income declared might be indicative of washing of illegal funds. A record should be kept of all transactions- deposits and withdrawals- of Rs. And banks should have an internal monitoring system to report these and other suspicious transactions Customer Privacy.

KYC processes should not lead to harassment of customers Banks collecting information for other than KYC purposes should not use account opening form for such information. Customer Identification is best done by obtaining an introductory reference from an existing account holder or person known to the bank and.

On opening an account the bank supplies the customer with a book of pay in slips, a cheque book or in a savings account if such a facility is not granted then withdrawal slips , a passbook etc. While in the normal course a banker has no duty to verify the source of funds, given that money today is moved around financing terror, drugs, for political destabilization and other undesirable or unlawful activities, there is a need for the banker to Know his customer.

The foregoing however underscores the importance of formalities associated with opening of accounts with banks. Accounts: Risk classification. An individual would normally open a savings bank account. So, if he wants to open a current account the banker has a duty to seek reasons on why the customer needs a current account. He has a further duty to make inquiries if a cheque for collection is deposited immediately after opening the account. In line with guidelines related to managing operations risk, banks now classify accounts as low, medium or high risk.

Such classification is based on the type of account, nature of transactions, the probability that the account could carry undesirable or illegal transactions in it etc. When the banker obtains information for opening an account in an account opening form, and verifies the particulars furnished in accordance with the tenets of Know Your Customer, a fair amount of the issues discussed in the preceding points is automatically taken care of.

Account opening form: Details An account opening form starts with a request by the customer to the banker to open an account for him. In a typical form he is asked to make a product choice: 1. Savings account 2. Term Deposit- interest payable or reinvestment 3. Recurring Deposit 4. Current account 5. Customer details: name in full, PAN number, Income tax details like when assessed to tax, IT ward circle etc, residential address with landmarks, PIN code, telephone no, mailing address if separate.

Details of education, occupation, salaried or self-employed, name of employer, income and family income monthly etc Details of existing bank accounts with branch name, account number etc Mode of operation in case of joint accounts, either single or joint etc Benefits customer desire: debit card, ATM card, name that should appear on card, whether a photo debit card is desired.

Cheque book- whether local or multi-city use, Whether internet, phone banking, mobile banking facilities are required Whether e-statements are required, if so e mail address Nomination under section 45ZA of the Banking Regulation Act, with particulars and nomination declaration with signature. Details of initial deposit, cash cheque with amount and particulars If term deposit account, tenure: days months, years, maturity instructions like auto renewal, payment instructions etc.

Rules binding on customer. Every customer is deemed to have read the rules governing the conduct of accounts with the bank and there is usually a statement to the effect in the account opening form of the bank which the customer signs before the bank opens the account for the customer. Sometimes a customer wants to authorise person to operate his account.

A mandate is given by him to the banker. This mandate must specify the exact authority given to the mandate holder. Whether he can sign cheques, give receipts, whether an overdraft created by him, inadvertently or otherwise will be binding on the customer etc. Joint accounts: mandates. It could be either or survivor, anyone or survivor, former or survivors to whom the balance should be paid.

Account can be operated singly, jointly by all or any two or three or in other combinations. These mandates can be withdrawn at any time by any one of the account holders Such joint accounts can also be opened for a married woman with her husband. Where a single account is opened for a married woman, if there is an overdraft, inadvertent or otherwise a banker will have no recourse against the husban ds estate.

Two or more individuals can open joint accounts with a bank; a savings, current or term deposit account for a common purpose. The banker should obtain information on the purpose for which the account is opened, if the persons joining together for opening an account have no natural relationship or other apparent reason for so getting together. Banker should obtain a clear mandate on who would operate the account and to whom the balance or maturity proceeds should be paid when the account is closed either voluntarily or otherwise.

And if a court appoints a guardian before the age of 18, such guardianship would continue until he completes the age of 21; and he will continue to be a minor. According to the Indian Contract Act, a minor cannot enter into a valid contract and if he does such a contract is void against the minor except where it is a contract for supply of necessities of life.

Precautions to be taken in minors account. He can open a savings account for a minor not a current account to be operated by a guardian or by himself if he is over the age of The minors account should be closed and the balance in the account paid to the minor on the date he attains majority.

The bank must have a record of the minors date of birth. The father of a minor is the natural guardian of a minor. If the father dies during minority, then the mother becomes the natural guardian who can operate the account. In the event of both father and mother dying, either a testamentary guardian or a court appointed guardian may operate the account.

If the banker permits an overdraft in the minors account, the banker cannot recover the amount and he has no legal remedy. No advance can be granted to the minor against the guarantee of a third party. As irrespective of the third party, the contract of loan between the banker and the minor is invalid and the banker cannot enforce the contract.

A minor may draw, endorse or negotiate a cheque or a bill He will have no liability on the instrument. The instrument itself will be valid and all other parties to the instrument will be liable in their respective capacities. A deposit account can be opened in the name of a minor by a bank, in the style of, Banks open a Savings Bank account with cheque book facility for a minor who is above 14 years of age.

This is done at the banks discretion, on an assessment that the risks are minimal in allowing an account for a minor for his personal use while at school etc. Accounts in the name of a married woman. In the case of a joint account, he should ask for clear instructions on who should operate the account. In the event of death of either of them, the banker should have clear instructions on to whom the balances in the account should be paid.

In the event of death of the husband, banker cannot without verification pay the balance to the widow as there could be other heirs. If a banker grants an overdraft or loan to a married woman, he can recover his dues, only from property owned independently in her name. A married woman cannot make her husband responsible for her debts. Even if there is property in her name, it might be that she only has right to the income from the property and not to sell it or encumber it.

In such a case, the banker will not be entitled his dues from that property. Account of illiterate person. Banker can open an account in the name of an illiterate person allowing operations in the account, against his thumbprint. His photograph should be taken on record; and he would be required to come in person to the bank for operations in the account.

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As of late the development and advancement of co-operative bank has been frustrated a bit inspite of legitimate As of late the development and advancement of co-operative bank has been frustrated a bit inspite of legitimate development and advertising systems connected by them to develop its clients.

Objectives of this project was to brief about co-opertative banks in the country. The description about my live work experience and work culture of the bank. As well as detailed study on the research project regarding the savings and fixed department of the bank. The objectives such as to find out brand image of the bank ,discover client mindset while opening an ac, criteria to deposit and further growth for fixed deposits where taken into consideration while forming a google questionnaire form.

A large retail Bank managed IT as a cost centre for many years, while its competitors invested heavily in Customer Relationship Management CRM technology to improve market analytics and customer service. As part of a major As part of a major transformation, the Bank decides to compete on customer service and rapidly invest in CRM capabilities to support a new customer experience and establish a competitive market position. It chooses a dynamic team from its successful online stockbroking subsidiary to lead the development effort across the Bank.

This team brings new capabilities and development approaches to the broader Bank, which represents a change from the traditionally outsourced and dominant Waterfall development approaches. This paper reports the first cycle in the Action Research Program, identifying the critical importance of a shared framing of the issues.

To have and to hold: Managing channels in UK high street financial services. Research into customer acquisition and Research into customer acquisition and retention has only recently begun to A troublesome emergence:A marketing primer on Russian retail banking.

Related Topics. Follow Following. Environmental Microbiology Biology. Environmental Science. Leadership and Strategy. Psychology of Pro Environmental Consumption. Data Access. Che Pham Sinh Hoc. Commercial Banks. Ads help cover our server costs. Commercial Bank of Ceylon Ltd.

Banking Assistants who directly engaged with customers are doing most of the services the Bank is offering. Bank Management could design their job effectively to obtain maximum result once this type of study is undertaken.

So that the Bank's image could be further enhanced by offering excellent service through satisfied workforce. In addition, this research tries to evaluate the application of job characteristic model of J. Frauds have many classifications but this paper restricts the classifications to four noticeable areas.

Adeyemo classified them as; a Insider non-management fraud. These are perpetrated mostly by bank employees. This involves the collaboration of the bank staff and outsiders as explain below. This paper is just to reveal the unethical challenges facing the commercial bank workers and the challenges militating against good ethical practices in Nigerian Banking. This entails the application of fraudulent means to obtain money or other property from the commercial bank.

Board of Directors Helen Y. Dee Chairperson Lorenzo V. Tan Vice Chairman Cesar E. Virata Director Francis G. Estrada Director Armando M. Medina Independent Director Michael Y. Dee Director Rommel S. Lastinoza Director Alberto L. Monreal Independent Director Nestor P. PCOMP 0. Sign Up. Sign In. Sign Up Sign In.

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This paper reflects on the emerging results of a long-standing ethnographic study of everyday work in a large retail Bank. While customers as economic actors have often been overlooked in studies of computer supported work they are While customers as economic actors have often been overlooked in studies of computer supported work they are generally and necessarily the focus of commercial organisational life.

The paper explicates the developing relationship between technology use and these organisational concerns through. Multimarket contact in Italian retail banking: Competition and welfare. An investigation of the use of intranet technology in UK retail banks.

Bank branch closures in New Zealand: the application of a spatial interaction model. Application of the model. For this paper the model was applied to the network of branches in the For this paper the model was applied to the network of branches in the Wellington area of New Zealand. The impact of information technology on customer and supplier relationships in the financial services.

Sampson, SE , Banking establishments by demonstrating monetary help to specialty units have added to financial development of the nation. As of late the development and advancement of co-operative bank has been frustrated a bit inspite of legitimate As of late the development and advancement of co-operative bank has been frustrated a bit inspite of legitimate development and advertising systems connected by them to develop its clients. Objectives of this project was to brief about co-opertative banks in the country.

The description about my live work experience and work culture of the bank. As well as detailed study on the research project regarding the savings and fixed department of the bank. The objectives such as to find out brand image of the bank ,discover client mindset while opening an ac, criteria to deposit and further growth for fixed deposits where taken into consideration while forming a google questionnaire form.

A large retail Bank managed IT as a cost centre for many years, while its competitors invested heavily in Customer Relationship Management CRM technology to improve market analytics and customer service. As part of a major As part of a major transformation, the Bank decides to compete on customer service and rapidly invest in CRM capabilities to support a new customer experience and establish a competitive market position. It chooses a dynamic team from its successful online stockbroking subsidiary to lead the development effort across the Bank.

This team brings new capabilities and development approaches to the broader Bank, which represents a change from the traditionally outsourced and dominant Waterfall development approaches. This paper reports the first cycle in the Action Research Program, identifying the critical importance of a shared framing of the issues.

To have and to hold: Managing channels in UK high street financial services. Retail loan is estimated to have accounted for nearly one-fifth of all bank credit. Housing sector is experiencing a boom in its credit. Gone are the days where getting a retail loan was somewhat cumbersome. All these emphasise the momentum that The activities of the merchant banking in India is very vast in nature of which includes the following a The management of the customers securities b The management of the portfolio, c The management of projects and counseling as well as appraisal d The management of underwriting of shares and debentures e The circumvention of the syndication of loans f Management of the interest and dividend etc Factors responsible for the Changes: 1.

Globalization of Indian Economy It has made the whole economy open, which has more multinational player in the era of the financial services? This has resulted in to the emergence of the global investment in financial sector. Government has now open up the doors of investments especially in the area of banks and insurance, which leads to competitive environment for the present players.

Now they have to bring something new which is efficient and best services to live in the competitive environment. Competition arising out of Private Company Participation It is due to the liberalization of the economy. Indika Thushara Asuramanna Reg. Research Problem : When employees perceived that the presence of core job characteristics are high in their job and their growth need strengths is high, they will be highly satisfied in their job. Commercial Bank of Ceylon Ltd. Banking Assistants who directly engaged with customers are doing most of the services the Bank is offering.

Bank Management could design their job effectively to obtain maximum result once this type of study is undertaken. So that the Bank's image could be further enhanced by offering excellent service through satisfied workforce. In addition, this research tries to evaluate the application of job characteristic model of J. Frauds have many classifications but this paper restricts the classifications to four noticeable areas. Adeyemo classified them as; a Insider non-management fraud.

These are perpetrated mostly by bank employees. This involves the collaboration of the bank staff and outsiders as explain below. This paper is just to reveal the unethical challenges facing the commercial bank workers and the challenges militating against good ethical practices in Nigerian Banking.

This entails the application of fraudulent means to obtain money or other property from the commercial bank. Board of Directors Helen Y. Dee Chairperson Lorenzo V. Tan Vice Chairman Cesar E.