Banking
Below is one of our free research papers on Banking. If the term paper below is not exactly what you're looking for, you can search our essay database for other topics or order a custom essay.
Related Essays
-
Pantaloons
Draft Letter of Offer For Equity Shareholders of the Company Only PANTALOON RETAIL (INDIA) LIMITED (Originally incorporated as Manz Wear Private Limited on...
-
Ind Synergy Info
Book Building Issue IND SYNERGY LIMITED (Originally incorporated as Goel Agro Forestry and Finance Private Limited on 28th March 1985 with Registrar of Companies...
-
Cms Management System In Banks In India
Cash Management and Fund transfers in Banks with the IT logistics" Table of Contents Chapter 1 2 1.0 Introduction 2 Chapter 2 3 2.0 Objectives, Scope and...
-
Ficci Retail Report
This report has been prepared on the basis of information obtained from key industry players, trade associations, government agencies, trade publications and...
-
Globalisation And The Impact On Developing Countries
Ruet 2006 1 2 Executive Summary: India, Globalisation and Firms The question of 'India in globalisation' is relevant in a fundamental manner. It is important in...
Banking
National Payments Corporation Of India
The retail payments system in India comprising of paper based and electronic systems, handle large volume of transactions. These relate to various customer segments spread across the country. The cheque clearing is the dominant retail payment system in India. The model rules and regulations are prescribed by RBI and are adopted by the clearing houses spread across the country. There are over 1047 clearing houses in the country today. RBI themselves manage 16 such clearing houses, SBI Group manages the bulk of the clearing houses numbering about 1000 and a few other public sector banks, manage the remaining clearing houses. The banks managing the clearing houses also act as the settlement banks. Cheque clearing is done by MICR technology at over 40 centres and manually at other centres. These MICR centres are run by RBI, SBI, PNB and a few other PSU banks. The electronic clearing facilities like ECS, EFT and SEFT are gaining importance. The Electronic Clearing Service (ECS) is provided through a clearing house for bulk payments/ receipts electronically. This facility is extended at 47 centres of which 15 are managed by RBI and the rest by SBI. The EFT and SEFT systems are wholly managed by RBI and facilitate same day account to account funds transfer from one bank to another. These are transacted through 15 RBI clearing centres and 3000 bank branches respectively. The ATMs are operated by different banks with their own switches and through some shared arrangements.
"Payment Systems in India Vision 2005-08" document released by the Reserve Bank of India in May 2005 recognized the significance of establishing a safe, secure, sound and efficient payment system for India, matching international standards and best practices. To give shape to its vision, the RBI envisaged in its document that the Indian Retail Clearing function, in its entirety, could be entrusted to a separate legal entity at national level and Reserve Bank can...
View Full Essay