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DRIVE-SUMMER
2014
PROGRAM-MBADS
(SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDBMN (SEM 1)
SUBJECT
CODE-MA0039
SUBJECT NAME-RETAIL
BANKING
Q1. Log on to any commercial bank’s website and discuss the features
of deposits and personal loan. (Features of deposits, Personal loans) 5, 5
Answer:
Features
of deposits loans:
The Features
of deposits and personal loan of UCO Bank are as follows:
One
of the important functions of the bank is to accept deposits from the public
for the purpose of lending. In
Q2. When your card is stuck in the ATM, discuss what action would
you take? In this context, write a short note on ATM card. (Action taken, Note
on ATM card) 6, 4
Answer:
ATM
An ATM card (also known
as a bank card, client card, key card, or cash card)
is a payment card provided by a financial institution to its customers which
enables the customer to use an automated teller machine (ATM) for transactions
such as: deposits, cash withdrawals, obtaining account information, and other
types of banking transactions, often through interbank networks.
Automated teller machines allow
you to withdraw cash and make deposits without having to talk to a bank teller
or write a check.
Q3. Discuss how Aadhaar card is used as a valid KYC norm. (KYC
norms, Aadhar card) 5, 5
Answer:
KYC
norms helps banks to prevent frauds and assures protection to the collecting
banker under Negotiable Instrument Act. KYC guidelines classify customers
according to risk factors and each bank is required to classify them under low
risk, medium risk and high risk. Banks that have classified customers as high
risk are required to verify their antecedents and source of funds.
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Q4. Conduct a need analysis in your area and list customer’s preferences with respect to banking products. (Need analysis, Banking products) 6, 4
Answer:
Need
analysis
Needs
analysis is the formal process defined by K Tara Smith that sits alongside
Requirements analysis and focuses on the human elements of the requirements.
The
following list gives the principles of needs analysis as originally defined.
Q5. A customer of the bank remits into his account Rs 1000. The
currency notes are soiled and mutilated. Will the bank accept the cash? Discuss
the RBI policy on currency chest and functions of the currency chest. (Action
taken, RBI policy on currency chest and, functions of the currency chest) 2, 4,
4
Answer:
Yes,
the bank will accept the cash. According to RBI policy, Exchange value of
soiled notes will be paid in coins and/or notes of denomination Rs.10/- and
above, across the counter as per extant rules. While the intention
of the RBI is to mop up all such soiled/mutilated Re.1/-, Rs.2/- and Rs.5/-
notes and above in
Q6. Discuss
the elements involved in transfer of funds. (Transfer of funds process,
elements) 5, 5
Answer:
An
electronic funds transfer is a transaction by which funds move from one institution to another or one account
to another at the direction of an institution’s customer and through the
transmission of electronic instruction messages that cause the institutions to
make the required bookkeeping entries and make the funds available. Funds
transfers are the primary mechanism used by the business community for fast and
reliable transfer of funds between two parties.
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