MA0039 - RETAIL BANKING

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ASSIGNMENT

DRIVE	SPRING 2014
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBAN2 (SEM 3) PGDBMN (SEM 1)
SUBJECT CODE & NAME	MA0039 - RETAIL BANKING
BK ID	B1619
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1. Log on to any commercial bank’s website and discuss the features of retail banking Asset products.

Answer:- Features of retail banking asset products:

1.      Similar to retail liability products, the retail asset products are small insize (small ticket) and large in numbers.

2.      Since the volumes are more, risk is spread.

3.      Retail asset products are contractual advances - (account operatedbased on mutual agreements).

4.      Bank earns interest and fee income from this portfolio.

5.      Retail asset products are subject to repayment and other terms ofsanction which the borrowers will have to adhere to.

6.       

2. Compare and contrast the debit and credit card and smart card .

Answer:Debit card

Banks promote card business in order to reduce their transaction costs. Issue of cards also ensures reduced footfalls in the branch. Debit card is aproduct introduced in almost all the banks in India. Debit card can be usedby the customer, both at the ATM and at merchant outlets. Under creditcard, the concept is ‘buy now pay later’, whereas under debit card theconcept is ‘buy now and pay now’. Hence, in case of debit card, thecustomers need to maintain sufficient balance in the account.Procedures adopted by banks for issue of debit card are similar to thatadopted for ATM cards. The customer at the point of purchase has to typethe PIN after swiping the card. The customer account is immediately

3. Interbank messaging network Swift has recruited a group of major banks to help develop its centralised KYC. Discuss whether implementing KYC is a challenge or an opportunity to banks?

Answer:-Explain the benefits and costs associated with KYC?

To control circulation of black money and dirty money within the country,Reserve Bank of India initiated additional measures by streamlining the KYCnorms to be implemented in banks. The main objectives of KYC requirements are:

·         To identify the customer

·         To identify the location of the customer

·         Prevent anti-social elements from using the

·          

4. Discuss the material alterations in cheques.

Answer:Material alterations

The materials alterations in cheques is which alters the business effect of an instrument, is considered as material alteration. Some of the alterations are alteration in date, amount and payee’s name. As per RBI circular - DPSS/CO/CHD/No. 1832/01.07.05/2009-10 dated 22nd February,2010, alteration to payee’s name and

5.Discuss whether a cheque can be considered as a bill of exchange?

Answer: A bill of exchange is “an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument.” Bill of exchange is an order instrument, drawn by the creditor (drawer of the bill) directing the drawee (debtor of the bill) to pay the amount of the bill liable to him (drawer) to the payee named in the bill.

-Features that are common to both bill of

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