Cover Page
Half-title Page
Title Page
Copyright Page
Contents
Preface
Chapter 1. Opening Bank Accounts
Bank Accounts
Types of Accounts
Savings Account
Basic Savings Bank Account
Savings Bank Account with Reward Points
Current Account
Resident Foreign Currency (Domestic) Account
Fixed Deposit Account
Fixed Deposit Receipt
Fixed Deposits Vs Chit Funds Vs Mutual Funds
Reinvestment Deposit Account
Flexi-Deposit Account
Senior Citizen Deposit Account
Recurring Deposit Account
Floating Rate Deposit Account
Steps in Opening Accounts
Obtaining Letter of Introduction
Application Form
Specimen Signature
First Transaction
Issue of Cheque, Pay-in-slip, and Passbook
Operation of the Account by an Agent
Savings Account Vs. Current Account
Disclosure of Information
Banker’s Liability
Pay-in-Slip Book
‘Donatio Mortis Causa’
Printed Cheque Forms—Merits
Passbook
Meaning
Effect of Entries
Legal Implications
Banking Practice
Review Questions
Chapter 2. Bank Customer
Definition
Bank Customer Relationship
Debtor and Creditor
Trustee and Beneficiary
Agent and Principal
Special Type of Customers
Minors
Customer Identification and KYC Norms
Meaning
Legal Compliance
Applicability
Customer Identification
KYC Documents for Normal Customers
KYC for Low Income Customers
Partnership Firm
Joint Stock Company
Married Woman
Executors and Administrators
Lunatics
Illiterate Persons
Trustees
Joint Accounts
Joint Hindu Family
Non-Trading Institutions
Review Questions
Chapter 3. Bank Lending
Significance of Bank Lending
Lending Sources
Bank Lending Principles
Forms of Lending
Loan Evaluation Process
Securities for Lending
Personal Security
Collateral Security
Types of Collateral Securities
Factors Influencing Bank Lending
Review Questions
Chapter 4. Negotiable Instruments
Meaning
Characteristics
Nature
Negotiable Instruments – Features/Similarities
Types
Cheque
Promissory Note
Bill of Exchange
Cheque Vs Bill of Exchange
Bill of Exchange Vs Promissory Note
Review Question
Chapter 5. Crossing
Definition
Objective
Crossing and Negotiability
Need for Crossing
Types of Crossing
General Crossing (Section 123)
Special Crossing (Section 124)
Not-negotiable Crossing
Account Payee Crossing
Double Special Crossing
Restrictive Crossing
Double Crossing
Persons Eligible to do Crossing
Consequence of Crossing
Opening of Crossing
Obliterating a Crossing
Liability of the Paying Banker
Marking of Cheque
Types of Marking
Review Questions
Chapter 6. Endorsement
Negotiation
Meaning of Endorsement
Definition of Endorsement
Components of Endorsement
Types
General or Blank Endorsement
In-full or Special Endorsement
Converted Full Endorsement
Partial Endorsement
Restrictive Endorsement
Conditional Endorsement
Cheques Payable to Fictitious or Impersonal Persons
Endorsement by Legal Representative
Intentional Cancellation of Endorsement
Negotiation Back
Effect of Endorsement
Duration of Endorsement
Quality of a Bearer Instrument
Rules Regarding Endorsement
Review Questions
Chapter 7. Paying Banker
Meaning
Banker’s Duty
Precautions by a Paying Banker
Dishonoring Customer’s Cheque
Cheque Bouncing - Consequences
Legal Course
Bankers Options
Proposed Changes
Dishonoring Cheques—Remarks
Dishonoring Cheques—Inappropriate Remarks
Discharge of Paying Banker
Payment in a Crossed Cheque
Payment of Cheque by Mistake
Material Alteration
Definition
Meaning
Non-material Alterations
Legal Effect
Burden of Proof
Protection to the Paying Banker
Statutory Protection (Section 85)
In case of Order Cheques
In the Case of Bearer Cheques
In the case of Crossed Cheques
Refusal of Cheque Payment
Review Questions
Chapter 8. Collecting Banker
Meaning
Collecting Banker’s Role
As Holder for Value
Effects
As an Agent
Statutory Protection (Section 131)
Conditions
Collecting Banker’s Duty
Duty to present the cheque
Duty of Due-care and diligence
Duty to serve notice of dishonor
Legal Position
Rbi ’s Instructions
Immediate Credit for Outstation Cheques
Interest for delay
Collection of Bills of Exchange
Agent for Collection
Accurate Accounts
Paying Banker Vs Collecting Banker
Review Questions
Chapter 9. Customer Grievances, Redressal and Ombudsman
Customer Grievances
Grievances Redressal
Banking Ombudsman
Banking Ombudsman Scheme
Object of the Scheme
Suspension of the Scheme
Appointment
Territorial Jurisdiction
Location of Office
Qualification
Tenure
Remuneration
Staffing of the Office
Powers and Duties
Other Powers and Duties
Procedure for Redressal of Grievance
Making a Complaint
Calling for Information
Settlement of Complaint by Agreement
Recommendation for Settlement
Award by the Banking Ombudsman
Rejection of the Complaint
Procedure for Redress of Customer Grievance
Review Questions
Chapter 10. Banking Regulations Act 1949
Preamble
Applicability
Definitions
Banking
Banking policy
Banking branch
Major Provisions
Banking Business (Section 6)
Board of Management
Minimum Paid-up Capital and Reserves
Capital and Voting Rights
Commission, Brokerage
Prohibition of Charge on Unpaid Capital
Prohibition of Floating Charge on Assets
Payment of Dividend
Prohibition of Common Directors
Reserve Fund
Cash Reserve
Subsidiary Companies
Loans and Advances
Branch Licensing
New Place of Business
Maintenance of Liquid Assets
Assets of the Bank
Accounts and Balance Sheet
Inspection
Directions to Banking Companies
Acquisition of Undertaking
Winding up of Banking Companies
Amalgamation
Recent Development
Review Questions
Chapter 11. Insurance – An Overview
Definition
Basic Principles of Insurance
Reinsurance
Life Insurance
Meaning
Policies
General Insurance
Meaning
Types
Policies
Other Insurances
Liability Insurance
Concept of Insurance Services
Health Insurance
Meaning
Health Insurance Policy
Health Insurance Plan
Employer Sponsored Plans
Government Sponsored Plans
Need for Health Insurance
Motor Insurance
Meaning
Nature
Property Accident Aspect
Personal Accident Aspect
Rural Insurance
Meaning
Potential
Delivery Channels
Annuity
Definition
Features
Types
Review Questions
Chapter 12. Insurance – Regulatory Framework
The Insurance Act
Insurance Regulatory and Development Authority of India ( IRDAI )
Composition
Duties
Powers and Functions
Constitution
Composition of Authority
Tenure of Office
Administrative Powers
Meeting of Authority
Grants by Central Government
The Fund
Accounts and Audit
Powers of Central Government
Insurance Advisory Committee
Power to Make Regulations
Major Amendments to Insurance Act
The First Schedule
Capital Requirements
Divesting Excess Shareholding
Conditions of Investment
Rural or Social Sector
Investigation and Inspection
Insurance Agents, Intermediaries and Surveyors
Insurance Agents
Issue of Licence to Intermediary
Surveyors
Review questions
Index
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