Presentation on Indian Banking System - Copy

8/2/2019 Presentation on Indian Banking System - Copy

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PRESENTATION

ON

INDIAN BANKING SYSTEM

FROM

ARNI SCHOOL OF BUSINESS MANAGEMENT

(2010-2012)

Submitted toSubmitted By

ASBM

PARDEEP KUMAR


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KATHGARH (INDORA)

ID. AEMB0017

INTRODUCTION

Banking in India originated in the first decade of 18 century with The General Bank

of India coming into existence in1786. This was followed by Bank of Hindustan. Both

these banks are now defunct. The oldest bank in existence in India is the State Bank

of India being established as "The Bank of Bengal" in Calcutta in June 1806.

The Reserve Bank of India formally took on the responsibility of regulating the Indian

banking sectorfrom1935. After India's independence 1947, the Reserve Bank was

nationalized and given broader powers.

Currently (2007), banking in India is generally fairly mature in terms of supply,

product range and reach-even though reach in rural India still remains a challenge for

the private sector and foreign banks. In terms of quality of assets and capital

adequacy, Indian banks are considered to have clean, strong and transparent balance

sheets relative to other banks in comparable economies in its region. The Reserve

Bank of India is an autonomous body, with minimal pressure from the government.

The stated policy of the Bank on the Indian Rupee is to manage volatility but withoutany fixed exchange rate-and this has mostly been true.

The Modern Banking Functions are Fund based and Non-Fund based functions. These

functions of a bank are those in which banks extend various services to their

customers or add their commitments to certain transactions undertaken by their

clients and charge their fees/ commissions for the services rendered by them / their

commitments added to the transactions undertaken by the clients. The activitiespopularly known as Non-fund facilities provided by Banks.

Thus, we conclude

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TABLE OF CONTENTS

1. INTRODUCTION -

Objectives of the study5

Scope of study6

Limitations of study7

2. INDIAN BANKS

Scope of Indian Bank8

Banking in India 9 Definition of Banks 11

Types of Bank 12

Services Provided by Banks13

3. RESERVE BANK OF INDIA

Guidelines Provided by the RBI21

Guidelines on Fair Practices Code28

33

4. STUDY OF HDFC BANK

5. STUDY OF PNB BANK 46

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ACKNOWLEDGEMENT

I am also thankful to Mrs. S. SAROJA (DEPUTY MANAGER) under their guidance I

undertook this project, for extending the advice and direction that is required to

carry on a study of this nature, and for helping me with the intricate details of the

project at every step. Without their support and able guidance, it would have

been very difficult to finish this work in the way I have done it.

( PARDEEP)

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OBJECTIVES OF THE STUDY

To study broad outline of management of credit, market and operational risks associated

with banking sector.

To understand the importance of banking sector.

To study the Indian bank scenario and its problem.

Long Term and Short Term Finances.

To study the role of bank in Indian Market.

Different types of services provided by the banks.

To study various bank, Corporate and Commercial.

To study the Indian bank scenario and its problem.

Though the Indian Banking System is very wide and elaborated, still the project covers

whole subject in concise manner.

The study aims at learning the techniques involved to manage the various types of Banks,

various methodologies undertaken.

To offer suggestions based upon the findings.

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SCOPE OF THE STUDY

A healthy banking system is essential for any economy striving to achieve

good growth and yet remain stable in an increasingly global business

environment. The Indian banking system, with one of the largest banking

networks in the world, has witnessed a series of reforms over the past few

years like the deregulation of interest rates, dilution of the government stake

in public sector banks (PSBs), and the increased participation of private

sector banks. The growth of the retail financial services sector has been a key

development on the market front. Indian banks (both public and private)

have not only been keen to tap the domestic market but also to compete in

the global market place.

Studying the increasing business scope of the bank.

Market segmentation to find the potential customers for the bank.

Customers perception on the various products of the bank.

The corporate sector has stepped up its demand for credit to fund its

expansion plans; there has also been a growth in retail banking.

The report seeks to present a comprehensive picture of the various types of bank. The

banks can be broadly classified into two categories:-

Nationalise Bank

Private Bank

Within each of these broad groups, an attempt has been made to cover as

comprehensively as possible, under the various sub-groups.

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LIMITATION OF THE STUDY: Every work has its own limitation.

Limitations are extent to which the process should not exceed. Limitations of this

project are:-

1. The project was constrained by time limit.

2. The major limitation of this study shall be data availability as the data is proprietary and not

readily shared for dissemination.

3. Due to the ongoing process of globalization and increasing competition, no one model or

method will suffice over a long period of time and constant up gradation will be required. As

such the project can be considered as an overview of the various banks prevailing in Punjab

National Bank and in the Banking Industry.

4. Each bank, in conforming to the RBI guidelines, may develop its own methods for

measuring and managing risk.

5.The project study is restricted to banking sector used in India only.

6. The conclusion made is based on a sample study and does not apply to all the

Individuals.

7. In India the banks are being segregated in different groups. Each group has their own

benefits and limitations in operating in India.

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8.All banks are not included.

PROBLEMS: --The corporate sector has stepped up its demand for credit to fund its

expansion plans, there has also been a growth in retail banking. However, even as

the opportunities increase, there are some issues and challenges that Indian banks

will have to contend with if they are to emerge successful in the medium to long

term.

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RESEARCH METHODOLOGY:-

The first stage included the introduction of Indian Banks and how they work in India. I

choose five criteria Growth, Credit quality, Strength, Profitability, Efficiency /

Profitability.

DATA COLLECTIONS

There are many sources for data collection :

1) primary data

2) secondry data

but in this study I collect data only through secondry source

Secondary data

The Preparation of the project report also required data from various journals,

newspapers ( like The Economic Times, Times of India etc.) books ( like Working

Capital Management written by Sarbesh Mishra and Financial Service written by M Y

Khan etc.)

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SCOPE OF BANKING SECTOR

Banking business has a history of over 200 years. From the times of the

Bank of Bengal (1806) the sector has been witnessing qualitative and quantitative

changes. Main players during the pre-independence period were Credit Lyonnais,

Allahabad Bank, Punjab National Bank and Bank of India. With 1935 regulation the

Reserve Bank of India was proclaimed the Central Bank of India and was vested

with controlling powers over the commercial banks.

The drastic development taken place during the first 25 years since

independence was Nationalization of many private banks. With this, the central

government became major policy maker for these nationalized banks

With economic liberalization measures many private and foreign banking companies

were allowed to operate in the country. Favorable economic climate and a variety of other

factors such as demand for wide range of financial products from various sections of the

society led to mutually beneficial growth to the banking sector and economic growth process.

This was coincided by technology development in the banking operations. Today most of the

Indian cities have networked banking facility as well as Internet banking facility. A customer

is empowered to operate his account from any part of the country. UTI Bank, ICICI, HDFC

Bank and Bank of Punjab are the main winners of the race.

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BANKING IN INDIA

Banking in India originated in the first decade of 18th century with The General Bank of

India coming into existence in 1786. This was followed by Bank of Hindustan. Both these

banks are now defunct. The oldest bank in existence in India is the State Bank of India being

established as "The Bank of Bengal" in Calcutta in June 1806. A couple of decades later,

foreign banks like Credit Lyonnais started theirCalcutta operations in the 1850s. At that point

of time, Calcutta was the most active trading port, mainly due to the trade of the British Empire,

and due to which banking activity took roots there and prospered. The first fully Indian owned

bank was the Allahabad Bank, which was established in 1865.

By the 1900s, the market expanded with the establishment of banks such as Punjab

National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of which were

founded under private ownership. The Reserve Bank of India formally took on the

responsibility of regulating the Indian banking sector from 1935. After India's independence in

1947, the Reserve Bank was nationalized and given broader powers.

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http://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Calcuttahttp://en.wikipedia.org/wiki/Credit_Lyonnaishttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/British_Rajhttp://en.wikipedia.org/wiki/Allahabad_Bankhttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Reserve_Bank_of_Indiahttp://en.wikipedia.org/wiki/State_Bank_of_Indiahttp://en.wikipedia.org/wiki/Calcuttahttp://en.wikipedia.org/wiki/Credit_Lyonnaishttp://en.wikipedia.org/wiki/Kolkatahttp://en.wikipedia.org/wiki/British_Rajhttp://en.wikipedia.org/wiki/Allahabad_Bankhttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Punjab_National_Bankhttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Reserve_Bank_of_India


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13

Reserve Bank of India

Scheduled Banks

Commercial Banks Co-O erative Banks

Foreign

Banks (40)

Regional

Rural

Bank

Urban

Co-

operative

s (52)

State Co-

operative

s (16)

Public Sector Banks Private Sector Bank (30)

Old 22 New 8

Other Nationalised

Banks (19)State Bank of India &

Associate Banks (8)


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INTRODUCTION

Definition of the Bank:-Financial institution whose primary activity is to actas a payment agent for customers and to borrow and lend money. Banks are

important players of the market and offer services as loans and funds.

Banking was originated in 18th century

First bank were General Bank of India and Bank of Hindustan, now

defunct.

Punjab National Bank and Bank of India was the only private bank

in 1906.

Allahabad bank first fully India owned bank in 1865.

15

State

Bank

of

India

Bank

of

Bomba

y

Bank

of

Madras

Bank

of

Bengal

Imperi

al

Bank

of

India


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Types of banking

Commercial bankhas two meanings:

o Commercial bank is the term used for a normal bank to distinguish it

from an investment bank. (After the great depression, the U.S.

Congress required that banks only engage in banking activities,

whereas investment banks were limited to capital markets activities.

This separation is no longer mandatory.)

o Commercial bank can also refer to a bank or a division of a bank that

mostly deals with deposits and loans from corporations or large

businesses, as opposed to normal individual members of the public

(retail banking). It is the most successful department of banking.

Community development bankare regulated banks that provide

financial services and credit to underserved markets or populations.

Private banks manage the assets of high net worth individuals.

Offshore banks are banks located in jurisdictions with low taxation and

regulation. Many offshore banks are essentially private banks.

Savings banks acceptsavings deposits.

Postal savings banks are savings banks associated with national postal

systems.

There are some examples of banks in India:-

Private sector bank HDFC, ICICI, Axis bank, Yes bank, Kotak Mahindra bank, Bank of

Rajasthan

Rural bank United bank of India, Syndicate bank, National bank for agriculture and

rural development (NABARD)

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http://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Community_development_bankhttp://en.wikipedia.org/wiki/Private_bankhttp://en.wikipedia.org/wiki/Offshore_bankhttp://en.wikipedia.org/wiki/Savings_bankhttp://en.wikipedia.org/wiki/Savingshttp://en.wikipedia.org/wiki/Savingshttp://en.wikipedia.org/w/index.php?title=Postal_savings_bank&action=edit&redlink=1http://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Community_development_bankhttp://en.wikipedia.org/wiki/Private_bankhttp://en.wikipedia.org/wiki/Offshore_bankhttp://en.wikipedia.org/wiki/Savings_bankhttp://en.wikipedia.org/wiki/Savingshttp://en.wikipedia.org/w/index.php?title=Postal_savings_bank&action=edit&redlink=1


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Commercial bank

State Bank, Central Bank, Punjab National Bank, HSBC, ICICI, HDFCetc.

Retail bank BOB, PNB

Universal bank Deutsche bank

Services provided by the bank

Banks provide two types of services

1. Fund Based

2. Non-Fund Based

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Fund Based

Services

Non-Fund

Based Services

Banking

Services


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FUND BASED AND NON-FUND BASED FUNCTIONS

The difference between fund-based and non-fund based credit assistance lies

mainly in the cash outflow. While the former involves all immediate cash outflow,

the latter may or may not involve cash outflow from a banker. In other words, a

fund based credit facility to a borrower would result in depletion of actual liquidity

of a banker immediately whereas grant of non-fund based credit facilities to a

borrower may or may not affect the bankers liquidity.

Fund Based Services

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Fund Based Services

Loans & Advances Leasing & Hire Purchase Investment


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FUND BASED FACILITY

Fund based functions of a bank are those in which banks make deployment of

their funds either by granting advances or by making investments for meeting

gaps in funds requirements of their customers/ borrowers. Fund-based functions

of a bank may be classified into two parts:-

Granting of Loans and Advances

Making Investments in shares/ debentures/ bonds.

FUND BASED SREVICES

I. LOANS AND ADVANCES

1. Commercial Loans Segment

A. Working Capital:- Working Capital is Current assets minus current

liabilities. Working capitalmeasures how much in liquid assets a company has

available to build its business. The number can be positive or negative,

depending on how much debt the company is carrying. In general, companies

that have a lot of working capital will be more successful since they can

expand and improve their operations. Companies with negative working capital

may lack the funds necessary for growth, also called net current assets or

current capital.

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Commercial

Loans

Personal

Loans

Capital Market

Investment

Debt Market

Investment
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A loan whose purpose is to finance everyday operation of a company. A

working capital loan is not used to buy long term assets or investments. Instead it's

used to clear up accounts payable, wages, etc.

I. Cash Credit:- This facility is given by the banker to the customer by way of a

certain amount of credit facility. Its limit is fixed on the basis of security of the

company`s current assets.

II. Overdraft:-

Banks allow selected customers to write cheques in excess of thebalance in their current account, ie, to overdraw. Overdrafts are arranged up to

limits which depend on the customer's credit standing and the bank manager's

humour. The arrangements allow flexibility in the amount spent and, equally,

allow flexibility in repayments (although technically a bank can demand

repayment of an overdraft within 24 hours). In that respect overdrafts are unlike

personal loans, which are structured with regular repayments. Interest on

overdrafts is charged on the fluctuating daily balance.

III. Bills Finance:-

IV. Bills Purchase:-

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V. Bills Discounting:-This is the most important form in which a bank lends

without any collateral security. The seller draws bills of exchange on the buyer of

goods on credit. Such a bill may either be a clean bill or documentary bill which is

accompanied by documents of title to goods,viz railway receipts. The bank

purchase bills payable on demand and credit the customer`s account with the

amount of bills less the discount. On maturity of the bills, the bank present them

to its acceptor for payment. In case the discounted bill is dishonored by the non-

payment, the bank can recovers the full amount from the customer along with

the expense in that connection.

B. Tem Loans:-Abankloan to a company, with a fixedmaturity and often featuring

amortization ofprincipal. If this loan is in the form of a line of credit, the funds are

drawn down shortly after the agreement is signed. Otherwise, the borrower usually

uses the funds from the loan soon after they become available. Bank term loans are

very a common kind oflending.

I. Capital Expenditure:-Money spent to acquire or upgrade physical assets such as

buildings and machinery. also called capital spending or capitalexpense.

II. Fixed Assets Finance:-

III. Project Finance:-Financing arrangements where the funds are made available

for a specific purpose (the project), with the loan repayments geared to the project's

cashflow. Project finance is used in connection with raising large amounts of money

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for big-ticket, energy-related facilities. The term has come to be loosely applied to

various forms of financing. 'A financing of a particular economic unit in which a lender

is satisfied to look initially to the cashflows and earnings of that economic unit as the

source of funds from which a loan will be repaid and to the assets of the economic

unit as collateral for the loan.'

IV. Consumer Loans Advance against Shares:-

V. Housing Loans:-

VI. Education Loans:-

3. Personal Loans Segment :- Loan granted for personal, family, or household use, as

distinguished from a loan financing a business. Though in some situations the lender may

require a co-signer or guarantor. If unsecured, the loan is made on the basis of the

borrower's integrity and ability to Pay. Generally, these loans are used for debt

consolidation, or to pay for vacations, education expenses, or medical bills, and are

amortized over a fixed term with regular payments of principal and interest.

Non-Fund based services

It is generally perceived that the non-fund based business is very remunerative to

bank and the borrowers. The banks, besides getting handsome commission or fee

and some other service charges, also get the low cost deposits in the shape of

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margin and ancillary business. The funds of the borrower are not blocked in the

advances to be given to the suppliers or beneficiaries and this keeps his liquidity

position comfortable, production smooth and costs low.

PURPOSE FOR NON-FUND BASED FACILITIES:-

The borrowers need such facilities not only for purchases of current assets or

financing there of or take benefit of certain services with the help of non-fund

23

Non-Fund Based Services

Letter of Credit/Bank Guarantee

Merchant BankingFunctions

Agency FunctionsFunds

remittance/Transfer

Facilities


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based facilities. They also need the facilities for acquisition of fixed assets

including their financing.

RBI NORMS:

Prudential exposure norms as per extant guidelines of Reserve Bank of India provides

that the maximum exposure of a bank for all its Fund based and Non-fund based

credit facilities, investments, underwriting, investments in Bonds and commercialpaper and any other commitment should not exceed 25 percent of its (bank's) net

worth to an individual borrower and 50 percent of its, net worth to a 'group'. It may

however, be rioted that while calculating exposure, the Non-fund based facilities

are to be taken at 50 percent of the sanctioned limit. To illustrate the point let us

consider the following example:-

Example1.

Particulars Rs. Rs. In

crores

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Net worth of the bank

Maximum exposure permitted for an individual

borrower (25% of net worth of the bank) Working

Capital Control and Banking Policy

Maximum exposure permitted for all borrowers

under the same group (50% of net worth of the

bank)

175

350

700

657

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Example1.

Particulars Rs.

Limits sanctioned to borrower

Fund Based

Non-Fund Based 100

Total 200

Total Exposure

For Fund Based limits

@ 50% of limits

For Non-Fund based limits 50

@ 50% of limits

100

100

200

100

50

Total 150

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Total credit limits to the above borrower are Rs.200 crores which are in excess of the

maximum exposure norm of Rs. 175 crores. but for the purpose of determining

exposure we have taken non-fund based limits at 50 percent of itsvalue and total

exposure is taken at 150 crores which is well within the norm.

FUNDS REMITTANCE/ TRANSFER FACILITIES

Issue of demand draft

Collection of bills and chequesESTABLISHMENT OF LC/ BG

Letter of credit:- A Letter of Credit (L/C) is a written document issued by the

Buyers' Banker (BBK), at a request of the Buyer (B), in favour of the Seller(S),

whereby the Buyer's Banker (BBK) gives an undertaking to the Seller(S) that, in the

event of the Seller tendering the Bill of Exchange to the Seller's Banker (SBK), along

with all the required documents, in strict compliance of all the terms and conditions

stipulated in the L/C, the entire amount of the bill will be paid to the Seller (S) by the

Seller's Banker (SBK), on behalf of the Buyer's Banker (BBK) immediately, as has

been, in turn, undertaken by the buyer to his own Banker(BBK).

Bank guarantee: - It is customary for the Bank, in normal course of business, to

issue and execute guarantees in favor of third parties on behalf of the customers. The

Bank guarantees are governed by various provisions as contained in the Indian

Contract Act, 1872. The commercial transactions, banks customers are sometimes

required to give a Bank Guarantee. This is mostly as an alternate to keep cash as a

security deposit. The third party who seeks the guarantee, not being aware of the

customers financial standing prefers a bank guarantee. In turn the Bank, which very

well understands the financial standing of the customer, undertakes the guarantee of

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the customers financial commitments or performance of contracts by him. The bank

charges commission for this service, which depends on the security available and the

financial stability of the customer.

AGENCY FUNCTIONS

Collecting of B/E, P-notes, cheques & securities

Selling of products of insurance co./ MF

Granting & issuing LC, traveler's cheque

Agent for any govt., local authority, etc

MERCHANT BANKING

Syndication of loans

Venture capital finance

Public issue management

Corporate counseling

Mergers & acquisitions

Portfolio management services

Investment counseling

E-BANKING

Electronic payment system

ATM

Tele-banking

Credit card and debit card

Online banking

MOBILE BANKING

Account services

Credit card services

DEMAT account

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Loan account services

Bill services

Other services

DEPOSIT SCHEMES FOR NRI's

Foreign Currency Nonresident (FCNR-B) Deposits :

Tax Exemption

Choice of Currency

Remit in any Currency

Minimum & Maximum Amount

Joint account

Power of Attorney (P/A)

Nomination

Resident Foreign Currency (RFC):- Deposits Returning Indians for permanent

settlement, after staying abroad for not less than one year, can-

Retain their savings in foreign currency in a RFC account.

Get the proceeds of FCNR (B)/NRE Deposits credited to this account.

Non Resident external (NRE):-Deposits can be placed in

Savings Bank A/c

Fixed Deposit A/c

Non Resident Ordinary (NRO) Deposits:-Where an Indian citizen having a

resident account leaves India and becomes non-resident, his resident account should

be designated as NRO account.

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Where non-resident Indian receives income in India, he can open a NRO a/c with such

funds.

Reserve Banks of India:-

Establishment

The Reserve Bank of India was established on April 1, 1935 in accordance with

the provisions of the Reserve Bank of India Act, 1934.

The Central Office of the Reserve Bank was initially established in Calcutta but

was permanently moved to Mumbai in 1937. The Central Office is where the

Governor sits and where policies are formulated.

Though originally privately owned, since nationalisation in 1949, the Reserve

Bank is fully owned by the Government of India.

Guidelines on Ownership and Governance in PrivateSector Banks

Banks are "special" as they not only accept and deploy large amount of uncollateralized public

funds in fiduciary capacity, but they also leverage such funds through credit creation. The

banks are also important for smooth functioning of the payment system. In view of the above,

legal prescriptions for ownership and governance of banks laid down in Banking Regulation

Act, 1949 have been supplemented by regulatory prescriptions issued by RBI from time to

time. The existing legal framework and significant current practices in particular cover the

following aspects:

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i. The composition of Board of Directors comprising members with demonstrable professional

and other experience in specific sectors like agriculture, rural economy, co-operation, SSI,

law, etc., approval of Reserve Bank of India for appointment of CEO as well as terms and

conditions thereof, and powers for removal of managerial personnel, CEO and directors, etc.

in the interest of depositors are governed by various sections of the B.R. Act, 1949.

ii. Guidelines on corporate governance covering criteria for appointment of directors, role and

responsibilities of directors and the Board, signing of declaration and undertaking by directors,

etc., were issued by RBI on June 20, 2002 and June 25, 2004, based on the recommendations

of Ganguly Committee and a review by the BFS.

iii. Guidelines for acknowledgement of transfer/allotment of shares in private sector banks

were issued in the interest of transparency by RBI on February 3, 2004.

iv. Foreign investment in the banking sector is governed by Press Note dated March 5, 2004

issued by the Government of India, Ministry of Commerce and Industries.

v. The earlier practice of RBI nominating directors on the Boards of all private sector banks

has yielded place to such nomination in select private sector banks.

2. Against this background, it is considered necessary to lay down a comprehensive

framework of policy in a transparent manner relating to ownership and governance in the

Indian private sector banks as described below.

3. The broad principles underlying the framework of policy relating to ownership and

governance of private sector banks would have to ensure that

(i) The ultimate ownership and control of private sector banks is well diversified. While

diversified ownership minimises the risk of misuse or imprudent use of leveraged funds, it is

no substitute for effective regulation. Further, the fit and proper criterion, on a continuing

basis, has to be the over-riding consideration in the path of ensuring adequate investments,

appropriate restructuring and consolidation in the banking sector. The pursuit of the goal of

diversified ownership will take account of these basic objectives, in a systematic manner and

the process will be spread over time as appropriate.

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(ii) Important Shareholders (i.e., shareholding of 5 per cent and above) are fit and proper, as

laid down in the guidelines dated February 3, 2004 on acknowledgement for allotment and

transfer of shares.

(iii) The directors and the CEO who manage the affairs of the bank are fit and proper as

indicated in circular dated June 25, 2004 and observe sound corporate governance principles.

(iv) Private sector banks have minimum capital/net worth for optimal operations and systemic

stability.

(v) The policy and the processes are transparent and fair.

4. Minimum capital

The capital requirement of existing private sector banks should be on par with the entry capital

requirement for new private sector banks prescribed in RBI guidelines of January 3, 2001,

which is initially Rs.200 crore, with a commitment to increase to Rs.300 crore within three

years. In order to meet with this requirement, all banks in private sector should have a net

worth of Rs.300 crore at all times. The banks which are yet to achieve the required level of net

worth will have to submit a time-bound programme for capital augmentation to RBI. Where

the net worth declines to a level below Rs.300 crore, it should be restored to Rs. 300 crore

within a reasonable time.

5. Shareholding

i. The RBI guidelines on acknowledgement for acquisition or transfer of shares issued on

February 3, 2004 will be applicable for any acquisition of shares of 5 per cent and above of

the paid up capital of the private sector bank.

ii. In the interest of diversified ownership of banks, the objective will be to ensure that no

single entity or group of related entities has shareholding or control, directly or indirectly, in

any bank in excess of 10 per cent of the paid up capital of the private sector bank. Any higher

level of acquisition will be with the prior approval of RBI and in accordance with the

guidelines of February 3, 2004 for grant of acknowledgement for acquisition of shares.

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ii. As a matter of desirable practice, not more than one member of a family or a close relative

(as defined under Section 6 of the Companies Act, 1956) or an associate (partner, employee,

director, etc.) should be on the Board of a bank.

iii. Guidelines have been provided in respect of 'Fit and Proper' criteria for directors of banks

by RBI circular dated June 25, 2004 in accordance with the recommendations of the Ganguly

Committee on Corporate Governance. For this purpose a declaration and undertaking is

required to be obtained from the proposed / existing directors

iv. Being a Director, the CEO should satisfy the requirements of the fit and proper criteria

applicable for directors. In addition, RBI may apply any additional requirements for the

Chairman and CEO. The banks will be required to provide all information that may be

required while making an application to RBI for approval of appointment of Chairman/CEO.

7. Foreign investment in private sector banks

In terms of the Government of India press note the aggregate foreign investment in private

banks from all sources (FDI, FII, NRI) cannot exceed 74 per cent. At all times, at least 26 per

cent of the paid up capital of the private sector banks will have to be held by resident Indians.

7.1 Foreign Direct Investment (FDI) (other than by foreign banks or foreign bank group)

i. The policy already articulated in guidelines for determining fit and proper status of

shareholding of 5 per cent and above will be equally applicable for FDI. Hence any FDI in

private banks where shareholding reaches and exceeds 5 per cent either individually or as a

group will have to comply with the criteria indicated in the aforesaid guidelines and get RBI

acknowledgement for transfer of shares.

ii. To enable assessment of fit and proper the information on ownership/beneficial ownership

as well as other relevant aspects will be extensive.

7.2 Foreign Institutional Investors (FIIs)

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i. Currently there is a limit of 10 per cent for individual FII investment with the aggregate

limit for all FIIs restricted to 24 per cent which can be raised to 49 per cent with the approval

of Board/General Body. This dispensation will continue.

ii. The present policy requires RBIs acknowledgement for acquisition/transfer of shares of 5

per cent and more of a private sector bank by FIIs based upon the policy guidelines on

acknowledgement of acquisition/transfer of shares issued. For this purpose RBI may seek

certification from the concerned FII of all beneficial interest.

7.3 Non-Resident Indians (NRIs)

Currently there is a limit of 5 per cent for individual NRI portfolio investment with the

aggregate limit for all NRIs restricted to 10 per cent which can be raised to 24 per cent with

the approval of Board/General Body. Further, the policy guidelines on acknowledgement for

acquisition/transfer will be applied.

8. Due diligence process

The process of due diligence in all cases of shareholders and directors as above, will involve

reference to the relevant regulator, revenue authorities, investigation agencies and independent

credit reference agencies as considered appropriate.

9. Transition arrangements

i. The current minimum capital requirements for entry of new banks is Rs.200 crore to be

increased to Rs.300 crore within three years of commencement of business. A few private

sector banks which have been in existence before these capital requirements were prescribed

have less than Rs.200 crore net worth. In the interest of having sufficient minimum size for

financial stability, all the existing private banks should also be able to fulfil the minimum net

worth requirement of Rs.300 crore required for a new entry. Hence any bank with net worth

below this level will be required to submit a time bound programme for capital augmentation

to RBI for approval.

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ii. Similar continuing due diligence on compliance with the fit and proper criteria for

directors/CEO of the bank will have to be undertaken by the bank and certified to RBI

annually.

iii. RBI may, when considered necessary, undertake independent verification of fit and

proper test conducted by banks through a process of due diligence as described in paragraph

8

11. On the basis of such continuous monitoring, RBI will consider appropriate measures to

enforce compliance.

Guidelines on Fair Practices Code

Loan application forms shall be comprehensive to include information about rate of interest (fixed/floating)

and manner of charging (monthly/quarterly/half yearly/ rest), process fees and other charges, penal

interest rates, pre-payment options and any other matter which affects the interest of the borrower, so

that a meaningful comparison with that of other banks can be made and informed decision can be taken

by the borrower.

Banks and Financial Institution should devise a system of giving acknowledgement for receipt of all loans

application. Banks/ Financial Institutions should verify the loan application within a reasonable period of

time. If additional details / documents are required, they should intimate the borrowers immediately. If all

the requirements are complied with the borrowers, banks/ Financial Institution should acknowledge for the

same and state the specific time period from the date of acknowledgement within which a decision on the

specific loan request will be conveyed to the borrowers.

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Acknowledgement should also state the amount of process fees paid or to be paid and the extent to

which such fees shall be refunded in the event of rejection of any application for loan.

In the case of rejection of any loan application, lenders should convey in writing the specific reasons

thereof.

Lenders should ensure that there is proper assessment of credit requirement of borrowers. The credit limit,

which may be sanctioned, should be mutually settled.

Terms and conditions and other caveats governing credit facilities given by banks / Financial Institutionarrived at after negotiation by the lending institution and the borrower should be reduced in writing duly

witnessed and certified by the authorised sanctioning authority; in respect of advances sanctioned by the

Board of Directors or its committee the documents of understanding should be certified by the authorised

signatory preferably at company secretary level. A copy of such agreement should be made available to

the borrowers for their record.

Lenders should ensure timely disbursement of loans sanctioned.

Stipulation of margin and security should be based on due diligence and credit worthiness of borrowers.

Lenders should keep the borrowers apprised of the state of their accounts from time to time and shall give

notice of any change in the terms and conditions including interest rates and charges are effected only

prospectively. To ensure the above, Banks / Financial Institution should create appropriate information

dissemination mechanism.

The loan agreement should clearly specify the liability of lenders to borrowers in regard to allowing

drawings beyond the sanctioned limits, honouring the cheques issued for the purpose other than agreed,

disallowing large cash withdrawals and obligation to meet further requirements of the borrowers on

account of growth in business etc. without proper revision and sanction in credit limits, and disallowing

drawings on a borrower account on its classification as a non-performing assets or on account of non-

compliance with the terms of sanction.

Lenders should give reasonable notice to borrowers before taking decision to recall / accelerate payment

or performance under the agreement or seeking additional securities.

Lenders should release all securities on receiving payment of loan or realisation of loan subject to any

legitimate right of lien for any other claim lenders may have against borrowers. If such right of set off is to

be exercised, borrowers shall be given notice about the same with full particulars about the remaining

claims and the documents under which lenders are entitled to retain the securities till the relevant claims

are settled / paid.

ORGANIZATION PROFILE

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FORMATION OF THE COMPANY

The Housing Development Finance Corporation Limited (HDFC) was amongst the first

to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a

bank in the private sector, as part of the RBI's liberalization of the Indian Banking

Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC

Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced

operations as a Scheduled Commercial Bank in January 1995.

PROMOTER

HDFC is India's premier housing finance company and enjoys an impeccable track

record in India as well as in international markets. Since its inception in 1977, the

Corporation has maintained a consistent and healthy growth in its operations toremain the market leader in mortgages. Its outstanding loan portfolio covers well over

a million dwelling units. HDFC has developed significant expertise in retail mortgage

loans to different market segments and also has a large corporate client base for its

housing related credit facilities. With its experience in the financial markets, a strong

market reputation, large shareholder base and unique consumer franchise, HDFC was

ideally positioned to promote a bank in the Indian environment.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build

sound customer franchises across distinct businesses so as to be the preferred

provider of banking services for target retail and wholesale customer segments, and

to achieve healthy growth in profitability, consistent with the bank's risk appetite. The

bank is committed to maintain the highest level of ethical standards, professional

integrity, corporate governance and regulatory compliance. HDFC Bank's business

philosophy is based on four core values Operational Excellence, Customer Focus,

Product Leadership and People.

CAPITAL STRUCTURE

The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital

is Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the bank's equity

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and about 17.6% of the equity is held by the ADS Depository (in respect of the bank's

American Depository Shares (ADS) Issue). Roughly 28% of the equity is held by

Foreign Institutional Investors (FIIs) and the bank has about 570,000 shareholders.

The shares are listed on the Stock Exchange, Mumbai and the National Stock

Exchange. The bank's American Depository Shares are listed on the New York Stock

Exchange (NYSE) under the symbol 'HDB'.

TIMES BANK AMALGAMATION

In a milestone transaction in the Indian banking industry, Times Bank Limited

(another new private sector bank promoted by Bennett, Coleman & Co./Times Group)

was merged with HDFC Bank Ltd., effective February 26, 2000. As per the scheme of

amalgamation approved by the shareholders of both banks and the Reserve Bank of

India, shareholders of Times Bank received 1 share of HDFC Bank for every 5.75

shares of Times Bank. The acquisition added significant value to HDFC Bank in terms

of increased branch network, expanded geographic reach, enhanced customer base,

skilled manpower and the opportunity to cross-sell and leverage

alternative delivery channels.

DISTRIBUTION NETWORK

HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable

network of over 1229 branches spread over 444 cities across India. All branches are

linked on an online real-time basis. Customers in over 120 locations are also serviced

through Telephone Banking. The Bank's expansion plans take into account the need

to have a presence in all major industrial and commercial centers where its corporate

customers are located as well as the need to build a strong retail customer base for

both deposits and loan products. Being a clearing/settlement bank to various leading

stock exchanges, the Bank has branches in the centers where the NSE/BSE has a

strong and active member base. The Bank also has a network of about over 2526

networked ATMs across these cities. Moreover, HDFC Bank's ATM network can be

accessed by all domestic and international Visa/MasterCard, Visa Electron/Maestro,

Plus/Cirrus and American Express Credit/Charge cardholders.

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TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information

technology and communication systems. All the bank's branches have online

connectivity, which enables the bank to offer speedy funds transfer facilities to its

customers. Multi-branch access is also provided to retail customers through the

branch network and Automated Teller Machines (ATMs). The Bank has made

substantial efforts and investments in acquiring the best technology available

internationally, to build the infrastructure for a world class bank. The Bank's business

is supported by scalable and robust systems which ensure that our clients always get

the finest services we offer. The Bank has prioritized its engagement in technology

and the internet as one of its key goals and has already made significant progress in

web-enabling its core businesses. In each of its businesses, the Bank has succeeded

in leveraging its market position, expertise and technology to create a competitive

advantage and build market share.

BUSINESS FOCUS

HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build

sound customer franchises across distinct businesses so as to be the preferred

provider of banking services for target retail and wholesale customer segments, and

to achieve healthy growth in profitability, consistent with the bank's risk appetite. The

bank is committed to maintain the highest level of ethical standards, professional

integrity, corporate governance and regulatory compliance. HDFC Bank's business

philosophy is based on four core values- Operational Excellence, Customer Focus,

Product Leadership and People.

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PRODUCT SCOPE:

HDFC Bank offers a bunch of products and services to meet the every need of the

people. The company cares for both, individuals as well as corporate and small and

medium enterprises. For individuals, the company has a range accounts, investment,

and pension scheme, different types of loans and cards that assist the customers. The

customers can choose the suitable one from a range of products which will suit their

life-stage and needs. For organizations the company has a host of customized

solutions that range from

Funded services, Non-funded services, Value addition services, Mutual fund etc.

These

affordable plans apart from providing long term value to the employees help in

enhancing

goodwill of the company. The products of the company are categorized into various

sections which are as follows:

Accounts and deposits.

Loans.

Investments and Insurance.

Forex and payment services.

Cards.

Customer center.

PRODUCTS AND SERVICES AT A GLANCE

1. PERSONAL BANKING

A. Accounts & Deposits

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- Regular Savings Account

- Savings Plus Account

- SavingsMax Account

- Senior Citizens Account

- No Frills Account

- Institutional Savings Account

- Payroll Salary Account

- Classic Salary Account

- Regular Salary Account

- Premium Salary Account

- Defence Salary Account

- Kid's Advantage Account

- Pension Saving Bank Account

- Family Savings Account

- Kisan No Frills Savings Account

- Kisan Club Savings Account

- Plus Current Account

- Trade Current Account

- Premium Current Account

- Regular Current Account

- Apex Current Account

- Max Current Account

- Reimbursement Current Account

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- RFC - Domestic Account

- Regular Fixed Deposit

- Super Saver Account

- Sweep-in Account

- HDFC Bank Preferred

- Private Banking

B. Loans

- Personal Loans

- Home Loans

- Two Wheeler Loans

- New Car Loans

- Used Car Loans

- Overdraft against Car

- Express Loans

- Loan against Securities

- Loan against Property

- Commercial Vehicle Finance

- Working Capital Finance

- Construction Equipment Finance

- Offers & Deals

- Customer Center

C. Investments & Insurance

- Mutual Funds

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F. Access Your Bank

- One View

- Insta Alerts

- Mobile Banking

- ATM

- Phone Banking

- Branch Network

G. Cards

- Silver Credit Card

- Gold Credit Card

- Woman's Gold Credit Card

- Platinum plus Credit Card

- Titanium Credit Card

- Value plus Credit Card

- Health plus Credit Card

- HDFC Bank Idea Silver Card

- HDFC Bank Idea Gold Card

- Compare Cards

- Transfer & Safe

- Track your Credit Card

H. Get More from Your Card

- Offers & Savings

- My Rewards

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- Insta Wonderz

- Add-On Cards

- Credit Card Usage Guide

- Easy EMI

- Net safe

- Smart Pay

- Secure Plus

- My City Benefit Card

- Debit Cards

- Easy ShopInternational Debit Card

- Easy Shop Gold Debit Card

- Easy ShopInternational Business Debit Card

- Easy ShopWoman's Advantage Debit Card

- Prepaid Cards

- Forex Plus Card

- Kisan Card

I. Customer Centre

- Offers & Deals

- Winners of Contests & Promotions

2. Wholesale Banking

A. Corporate

Funded Services

Non Funded Services

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Value Added Services

Internet Banking

B. Small & Medium Enterprises

Funded Services

Non-Funded Services

Specialized Services

Internet Banking

C. Financial Institutions & Trusts

Banks

Financial Institutions

Mutual Funds

Stock Brokers

MILESTONES IN THE HISTORY

HDFC Bank began its operations in 1995 with a simple mission: to be a "World-class

Indian Bank". They realized that only a single-minded focus on product quality and

service excellence would help us get there. Today, they are proud to say that they are

well on our way towards that goal.

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It is extremely gratifying that their efforts towards providing customer convenience

have been appreciated both nationally and internationally.

AWARDS & ACHIEVEMENTS of HDFC BANK

Business Today-Monitor Group survey One of India's "Most Innovative

Companies".

Financial Express-Ernst & Young

Award

Best Bank Award in the Private

Sector

category

The Asian Banker Excellence in Retail

Financial Services Awards

Best Retail Bank in India.

Asian Banker Managing Director Aditya Puri

won the

Leadership achievement Award

for

India

Outlook Money & NDTV Profit Best Bank Award in the Private

sector

category

MERGER

HDFC Bank and Centurion Bank of Punjab merger at share swap ratio of 1:29.The

Boards of HDFC Bank and Centurion Bank of Punjab met on 25 February, 2008 and

approved, subject to due diligence, the share swap ratio for the proposed merger of

Centurion Bank of Punjab with HDFC Bank. The Scheme of Amalgamation envisages a

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share exchange ratio of one share of HDFC Bank for twenty nine shares of Centurion

Bank of Punjab.

The combined entity would have a nationwide network of 1,148 branches (the largest

amongst private sector Banks) a strong deposit base of around Rs. 1,200 billion and

net advances of around Rs. 850billion. The balance sheet size of the combined entity

would be over Rs. 1,500 billion.

Mr. Shailendra Bhandari, Managing Director and CEO, Centurion Bank of

Punjab said, We are extremely pleased to receive the go ahead from our board to

pursue this opportunity. A merger between the banks provides significant synergies

to the combined entity. The proposed merger would further improve the franchise

and customer proposition offered by the individual

banks.

SUGGESTIONS:

Finally some recommendations for the company are as follows:-

To make people aware about the benefit of becoming HDFC Banks Sales

Executive, following activities of advertisement should be done through

1. Print Media.

2. Hoarding & Banners.

3. Stalls in Trade Fares

4. Distribution of leaflets containing details information.

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The bank should provide life time valid ATM card to all its customers.

Minimum balance for savings account should be reduced from Rs 5000 to Rs

1000, so that people who are not financially strong enough can maintain their

account properly.

The company should provide a pass book to all its customers

Make people understand about the various benefits of its products.

Company should organize the program in the society, so that people will be

aware about the company and different products of the bank

Company should open more branches in different cities.

PUNJAB NATIONAL BANK

ORIGIN

Punjab national bank was established in 1895 at Lahore, undivided India, Punjab

National Bank (PNB) has the distinction of being the first Indian bank to have been

started solely with Indian capital. The bank was nationalized in July 1969 along with

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13 other banks. From its modest beginning, the bank has grown in size and stature to

become a front-line banking institution in India at present.

PROFILE

With its presence virtually in all the important centers of the country, Punjab

National Bank offers a wide variety of banking services which include corporate and

personal banking, industrial finance, agricultural finance, financing of trade and

international banking. Among the clients of the Bank are Indian conglomerates,

medium and small industrial units, exporters, non-resident Indians and multinational

companies. The large presence and vast resource base have helped the Bank to build

strong links with trade and industry.

Punjab National Bank is serving over 3.5 crore customers through 4540 Offices

including 421 extension counters - largest amongst Nationalized Banks.

Punjab National Bank with 112 year tradition of sound and prudent banking is one

among 300 global companies and seven Indian companies which are expected to

emerge as challengers to Worlds leading blue chip companies. While among top

1000 world banks, The Banker, the leading magazine in London, has placed PNB at

the 248th position, the bank features at 1308th position among Forbes Global 2000

list of global giants and fast growing companies.

At the same time, the bank has been conscious of its social responsibilities by

financing agriculture and allied activities and small scale industries (SSI). Considering

the importance of small scale industries bank has established 31 specialised branches

to finance exclusively such industries.

Strong correspondent banking relationship which Punjab National Bank

maintains with over 200 leading international banks all over the world enhances its

capabilities to handle transactions world-wide. Besides, bank has Rupee Drawing

Arrangements with 15 exchange companies in the Gulf and one in Singapore. Bank is

a member of the SWIFT and over 150 branches of the bank are connected through its

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computer-based terminal at Mumbai. With its state-of-art dealing rooms and well-

trained dealers, the bank offers efficient forex dealing operations in India.

The bank has been focusing on expanding its operations outside India and has

identified some of the emerging economies which offer large business potential. Bank

has set up representative offices at Almaty: Kazakhistan, Shanghai: China and in

London. Besides, Bank has opened a fully fledged Branch in Kabul, Afghanistan.

Keeping in tune with changing times and to provide its customers more efficient

and speedy service, the Bank has taken major initiative in the field of

computerization. All the Branches of the Bank have been computerized. The Bank has

also launched aggressively the concept of "Any Time, Any Where Banking" through

the introduction of Centralized Banking Solution (CBS) and over 2409 offices have

already been brought under its ambit.

PNB also offers Internet Banking services in the country for Corporates as well as

individuals. Internet Banking services are available through all Branches of the Bank

networked under CBS. Providing 24 hours, 365 days banking right from the PC of the

user, Internet Banking offers world class banking facilities like anytime, anywhere

access to account, complete details of transactions, and statement of account, online

information of deposits, loans overdraft account etc. PNB has recently introduced

Online Payment Facility for railway reservation through IRCTC Payment Gateway

Project and Online Utility Bill Payment Services which allows Internet Banking accountholders to pay their telephone, mobile, electricity, insurance and other bills anytime

from anywhere from their desktop.

Another step taken by PNB in meeting the changing aspirations of its clientele is

the launch of its Debit card, which is also an ATM card. It enables the card holder to

buy goods and services at over 99270 merchant establishments across the country.

Besides, the card can be used to withdraw cash at more than 25000 ATMs, where the

'Maestro' logo is displayed, apart from the PNB's over 1094 ATMs and tie up

arrangements with other Banks.

VISION AND MISSION

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VISION

To evolve and position the Bank as a world class progressive cost effective and

customer friendly institution providing comprehensive financial and related services;

integrating frontiers of technology and serving various segments of society especially

the weaker section; committed to excellence in serving the public and also excellence

in serving the public and also excelling in corporate values.

MISSION

To provide excellent professional services and improve its position as a leader in the

field of financial and related services; build and maintain a team of motivated and

committed workforce with high work ethos; use latest technology aimed at customer

satisfaction and act as an effective catalyst for socio-economic development

AWARDS & ACHIEVEMENTS of PUNJAB NATIONAL BANK

"Best IT Team of the Year Award" One of India's "Most Innovative

Companies".Best IT User in Banking &

Financial Services Industry - 2004

by NASSCOM in partnership with

Economic TimesGolden Peacock Award for Excellence in Corporate

Governance - 2005 by Institute of

DirectorsNational Award for Excellence in

SSI Lending

Ranked 2nd for 4 consecutive years -

2002, 2003, 2004 & 2005Money Outlook Award 2004 Runner up in 'Best Bank (public

Sector) of the year Award' -2005

THE DIRECORS OF PUNJAB NATIONAL BANK

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BOARD FO DIRECTORS

Dr K.C. Chakrabarthy Chairman & Managing Director

Shri K.Raghuraman Executive Director

Shri .J.M.Gerg Exective Director

DIRECTORShri .Ravneet Kaur Govt. of India Nominee Director

Shri .L.M.Fonseca Reserve bank of India Nominee Director

Shri .S.R.Khurana Director Rep.C.A.catagory

Shri P.K.Nayar Officer Employee Director

Shri.Mohan Lal Workmen Employee director

Dr.Harsh Mahajan Share holder Director

Shri.Prakash Agrawal Shareholder Director

Shri Gautam P.Khandelwal Part-time non-official Director

Shri Mushtaq A Antulay Part-time non-official Director

PNB`S KEY COMMITMENTS

We promise to:

1) Act fairly and reasonably in all our dealings with you by:

meeting the commitments and standards in this Code, for the products and services

we offer, and in the procedures and practices our staff follow

making sure our products and services meet relevant laws and regulations

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our dealings with you will rest on ethical principles of integrity and transparency.

2) Help you to understand how our financial products and services work by:

giving you information about them in plain Hindi and/or English and/or the local

language

explaining their financial implications and

helping you chooses the one that meets your needs.

3) Dealquickly and sympathetically with things that go wrong by:

correcting mistakes quickly

handling your complaints quickly

telling you how to take your complaint forward if you are still not satisfied and

reversing any bank charges that we apply due to our mistake.

4) Publicise this Code, put it on our website and have copies available for

you on request.

SWOT ANALYSIS

STRENGTHS:

Strong growth in business

Good branch network

Highest CASA among PSU

Highest NIMs compared to peers

Fine growth in fee income last year

De-risked investment portfolio

Adequate Capital

Proactive on technology front.

WEAKNESS:

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Higher Delinquencies

Higher provisions deterring growth in net profits

No development on insurance venture

Slower growth on international front

Slow-down in treasury profits

Its subsidiaries PNB Housing Finance & PNB Gilts are not impressive

OPPORTUNITIES:

Expansion on international front

Ample opportunity to expand business, as the economy is doing well.

Growth in Insurance and Mutual Fund business

THREATS:

Entry of foreign banks

Sharp rise in interest rates can hamper economic growth

Regulatory amendments

Implementation of Basel II requires higher capital

Downturn in Agriculture growth

PRODUCTS AND SERVICES:

PRODUCTS:

Personal banking

Corporate banking

Home loans

About loan

ATM/DEBIT cards

Deposit interest rates

SERVICES

Locker facilities

Depository services

Senior citizen scheme

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RTGS/NEFT/SFMS:PNB

Merchant banking

Online tax accounting system

Electronic fund transfer

Electronic clearing service

Offshore banking

12 hours banking

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Date post:	05-Apr-2018
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