Recent developments in banking

Recent Developments in Banking Sector

1. Recent Development in Banking M.Vadivel Assistant Professor BCOM PA SRCAS, CBE – 06.

2. INFINT: Indian Financial Network – June 1999. The INFINT is a communication backbone for the Indian banking and financial sector.

3. Mobile Banking 1. SMS = Mobile SMS Center Bank System SMS Center Mobile. 2. WAP = WAP website Customer ID & Net banking PIN Select A/c Transaction Menu Select Transaction Perform Log out.

4. Telephone Banking Customer Making a Quarry Sending digitalized message Automated Voice Response Human Response Banker

5. ATM Shared ATM Network – Swadjan ATM Network by ISC ( Indian Switch Company). 1. BANCS 2. Cash tree 3. NFS ( National Financial Switch) Nation Payment Corporation of India. BRSS : Board for Regulation & Supervision of Payment and Settlement System.

6. EFT : Electronic Fund Transfer 1. MICR – technology – Cheque 2. RTGS – technology NEFT : National Electronic Fund Transfer ECS: Electronic Clearing Service 1. Both Debit and Credit 2. EMI Payments

7. SWIFT : Society for Worldwide International Financial Telecommunication. PKI : Public Key Infrastructure IFSC : Indian Financial Switch Code SFMS: CFMS: Centralized Fund Management System. E-cheque Usage of Cards 1. Debit Card 2. Credit Card 3. Smart Card

8. SPNS : Shared Payment Network System ACHO : Automated Clearing House Operation. VSAT : Computerized Message Transfer Teleconferencing Internet Banking E-Mail Fax CTS : Cheque Trunction System CBS: Centralized Banking Solution

9. THANK You…..