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Amey Sheth

on 30 December 2013

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Transcript of MATHS PROJECT

This is my Banking Project related to the awareness
about the banking system and the co-operative

Some people have the opinion that the word "bank" is derived from the French words bancus which means a "bench" initially , the
bankers, the Jews in
Lombardy, transacted
their business on benches in
the market place & the
bench resembled
the counter.

A bank is a financial institution that accepts
deposits and conducts lending activities, either
directly by loaning or indirectly by capital

There are various types of banks which include -

1. Commercial Banks
2. Private Banks
3. Universal Banks
4. Central Banks
What is a Bank ?????
The primary functions of a bank are also known as banking functions as they are the main functions of
a bank. These primary functions of banks are explained below which include of accepting deposits and granting loans and advances to the customers.

- Accepting Deposits

The bank collects deposits from the public.
These deposits are of several types which
are explained in the next slide.

Primary Functions of a Bank
a. Saving Deposits - This type of deposits
encourage saving habit amongst the people.
The Rate of Interest is low, at present, the Rate of Interest is of around 4% p.a.

b. Fixed Deposits - A large amount is deposited at one time for a specific period of time. Withdrawals are not allowed before the of the
specific period.Those who have surplus
funds go for fixed deposit.

Functions of a Bank-Types of Deposits/Accounts
c. Current Deposits - This types of accounts are usually meant for businessmen. No interest is paid. In fact, there are service charges.

d. Recurring Deposits - This type of account is operated by salaried persons and petty traders. A certain sum of money is periodically deposited into
the bank. Withdrawals are permitted only after the
expiry of certain period. A higher rate of interest
is paid.
Functions of a Bank-Types of Deposits/Accounts
- Granting of Loans and Advances

The bank advances loans to the business community
and other members of the public. The rate charged is higher than what it pays on deposits. The difference in the interest rates (lending rate and the deposit rate) is its

The types of bank loans and advances are :-
- Overdraft
- Cash Credits
- Loans
- Discounting of Bill of Exchange
Functions of a Bank
The bank performs a number of secondary functions, also called as non-banking functions.

1. Agency Functions - The bank acts as an agent of its customers. The bank performs a number of agency functions which includes Transfer of Funds,Collection of Cheques, Periodic Payments,Portfolio Management,
Periodic Collections, etc.

2. General Utility Functions - The bank also
performs general utility functions, such as
providing locker facilities, Underwriting of
Shares, Dealing in Foreign Exchange,
Project Reports and Social
Welfare Programmes

Secondary Functions of a Bank
Banks provide a number of facilities to its account
holders and its members. This facilities include following :-

- Multi-City/Pay at Par Cheque Facility - With the Multi -City Cheque Book, you can withdraw funds by yourself
as well as make payment to people in cities other than at
city/town where you maintain an account.

- Anywhere Banking Facility

- Trade Services

- Mobile Banking or Phone
Banking apps

Facilities provided by a Bank
Banca Monte dei Paschi di Siena S.p.A.
is the oldest surviving bank in the
world and Italy's third largest bank.
Founded in 1472 by the magistrate of
the city state of Siena, Italy, it has been
operating ever since. Today it has
approximately 3,000 branches, 33,000 employees and 4.5 million customers
in Italy, as well as branches and businesses abroad.The bank's main shareholder is the 'Fondazione Monte dei Paschi di Siena.'
In accordance with Fixed Deposits the deposited money by a customer cant be withdrawn until the period of time given by the bank. The money deposited can only be withdrawn after the end of the specific period given by the Bank.
Direct deposit also known as direct credit is a banking term that describes a deposit of money straight from the source into a bank account.
Banks provide Lockers to the customers to keep their belongings and money safe from robbery.
In this modern era people are too busy and don't have enough time to visit the banks. So, to decrease their tensions some banks have released the facility of Banking in a Phone!!
Facilities provided
by a Bank
- ATM - An automated teller machine is a computerized telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space without the need for a cashier, human clerk or bank teller.

- Online Banking - Online banking solutions have many
features and capabilities in common, but traditionally
also have some that are application specific.

- Real Time Gross Settlement - funds transfer
systems where transfer of money takes
place from one bank to another

- Credit Cards

An ATM helps
in rapid access of
financial transactions
in public areas.
Types Of Accounts
Savings Account
Term/Fixed Deposit
According to Fixed Deposits the Rate of Interest varies according to different banks but the interest is far more higher than that of the Savings Account. One can't withdraw amount deposited before the specific period.
Current Deposits
In accordance with the current deposits, one is not offered with any rate of Interest but instead he/she has to pay for the service charges.
Recurring Deposits
Recurring Deposits are meant for petty traders and the Rate of Interest is the same as the term deposits. A certain sum of money is periodically deposited into
the bank.
If you deposit a certain amount of money
in a savings account you just get 4% of interest per annum. You can Withdraw money any time from the Bank.
Therefore according our study above, we come to know that the Term Deposits are the most beneficial.
Let consider that I deposit an amount of
1 Crore (1,00,00,000)
for a term of 1 Year in a Fixed Deposit Account in all 3 Banks - Axis, Bank of India and HDFC.
Axis Bank - ROI = 9.00 % p.a.
Amount deposited - Rs. 1,00,00,000
Interest - 9,00,000 (9/100 * 1 Cr.)
Bank Of India - ROI = 9.10 % p.a.
Amount Deposited - Rs. 1,00,00,000
Interest - 9,10,000 (9.1/100 * 1 Cr.)
HDFC Bank - ROI = 8.75 % p.a.
Amount Deposited - 1,00,00,000
Interest - 8,75,000 (8.75/100 * 1 Cr.)
Therefore according to
our study above for the Rate of Interests in 3 diff.
Banks Bank of India(BOI)
is the most beneficial bank.
Reflection Report
According to this project I was able to learn many
new things. I was able to know how to perform Banking Operations like opening Bank Accounts, hot to write checks, demand drafts and etc. Banking is very important in one's life. Through this project I was able to know which accounts are the most beneficial for different people, functions of a Bank, Facilities provided by Banks,
etc. According to my study, Term/Fixed Deposits are
the most beneficial though Savings Depots are
better for salaried people.
Done By : Amey A. Sheth
Full transcript