RECENT CHANGES IN THE BANKING SECTOR

Presented By Nisha Mathew S2 MBA UIT-CME,Adoor

In the new fiscal year, some important changes can see in the banking sector…………

Customers have the facility to use ATM’s of any bank with out paying service charge…………..

There is no BANKING TRANSACTION TAX for the withdrawal of money above Rs. 50,000

There will be strict execution of BASAL 2 rules in all commercial banks………..

Due to the low inflation rate, there will be a lot of chance to decrease the rate of interest…………

By the last four months there is a sudden decrease in REPO rate(3.5%) $ in CRR (4%)………….

At the same time we can expect the fall of interest in deposit…………..

In this fiscal year, there will be an expansion in the banking sector with the help of technology like Net Banking, Mobile Banking………

CHEQUE TRANKATION Through this system customers can clear the

outstations cheque very easily…………

Here the copy of the cheque is taken by the scanner &send the electronic copy of the cheque………….

Now a days we use the post or courier for the transaction of the cheque…………

Through this system we can control the time &cost.It ensure the surety of cheque………

Now this system is successfully applied in Delhi…….

There is a plan to apply this system all over the country……….

SPEED CLEARING This is also helps to easy clearing of

outsourcing cheque………….

But it will be carry down through the banks where the CORE BANKING is applied……..

There will be no service charge up to 1,00,000.

This speed clearing system is already in Trivandrum&Kochi………..

In this year we can expect the application of this system in Kozhikode &Thrissur…………

Now a days it will take 15 days for the collection of outsourcing cheque………..

BASAL- 2 This is a set of rules formed by B.C.B.S(Basal

committee On Banking Supervision) in 2004………..

B.C.B.S are under the control of BANK FOR INTERNATIONAL SETTLEMENT………….

These restrictions are based on Capital, Investment control,&decipline based on market………

It ensure the stability &pay back of debt ………

Due to the application of BASAL 2 rules, every one will get a clear picture about the bank’s economic conditions……….

The execution of BASAL 2 rules will be checked by regulated authorities in the national level………..

Reference………

MALAYALA MANORAMA DAILY NEWS PAPER Published on 06.04.2009……….

THANKS………….