TYPES OF BANKING

NARROW BANKING

In India , the concept of Narrow Banking comes into discussion after submitting  the report by TARAPOR committee. It was suggested as a solution to the problem of  high NPA (Non-Performing Assets )and related matters. The committee proposed that incremental resources of these narrow banks should be restricted only to investment in government securities [G-sec].

MOBILE BANKING

RBI  (Reserve Bank Of India) gives privileges for mobile banking facilities only for those banks which are physically present in India.

SOME IMPORTANT POINT ABOUT MOBILE BANKING

-- NO International transaction.

-- Through Mobile Banking Only  Rs 5000 /-  can be transferred in one day.

-- If you are Purchasing something then the above fund becomes Rs 1000 /- in a day.

-- If any bank creates  his own rules or schemes (Mobile Banking) then it will be at his own risk, RBI not include in this.

-- " THE ACCOUNT THAT TRAVELS WITH YOU " is Mobile Banking 

UNIVERSAL BANKING

Due R.K. Khan's Recommendation, Universal Banking was introduced.

When a bank do some Developing Activities except Banking  Activities then it is said to be a Universal Banking. 

Example : IIBI IFCI etc

PARA BANKING

When a bank takes part in small acitvities like ( Challan, Bills, Gold Coin Selling, Fund, Insurance etc) Then it is called Para Banking.

CORE BANKING

When one kind of branches of a bank are interconnected each other then it known as Core Banking.

Example : SBI etc.