In this section we introduce concepts of banking in simple language. The videos explain banking’s ground rules. Series of videos in this section work as a Foundation Course. The purpose of this section is to simplify Business of Banking for anyone. The viewer will find that, against common belief, it is not necessary to have a specific educational background such as in commerce, accounting, economics or management (B. Com, CA or MBA etc.).
We have tried to keep the learning simple as we are speaking to the beginners. For the purpose of commercial banking we have included three types of banks: 1) Public Sector Banks lead by SBI and PNB, Private Sector Banks lead by HDFC Bank and ICICI Bank and Multinational Corporates lead by Standard Chartered Bank and Citibank.
Our General Banking section is meant for those who want to learn banking from the very beginning. Purpose why each one chooses to learn banking may be different: 1. Freshers may want to adopt banking as a career, 2. The ones who have already got a bank job may go for enhancing their job knowledge or clear their concepts, 3. The youth who are opting for entrepreneurship / intrapreneurship need a working knowledge of banking and 4. The ones who find money matters ‘alien’ and get intimidated by the mere words such as ‘savings schemes’, ‘digital banking’ and complaining to Reserve Bank of India in case of deficient services.
The purpose of ‘General Banking’ series of videos is to relate banking to one such industry which is even simpler to grasp and get bonded with. We have related the banking business with that of an automobile and the banking industry with that of the automobile industry. The reader would find many similarities between the two. The video training has been aptly named as ‘Drive Through Your Banking’.
Not to diminish the seriousness of business of banking in any way, ‘Learning Banking Is Child’s Play’. However, one needs to put into act the childlike qualities as inquisitiveness, learning from errors, asking question and an insatiable hunger to learn. The qualities which a child has while, say, learning to ride a bicycle, are replicated by an aspiring banker, learning banking would become fun. Then it would stick for a lifetime.
‘Who Needs Banking the Most’? This question is asked at various forums. The answer is ‘everyone’. The rich need banking, the middle class needs it and so is by the poor. But the poor need it the more: to be able to save whatever they can. And to get out of the clutches of the criminally greedy money lender. Financial Inclusion is going to be the banking industry of the future. Makes economic sense for bankers as well for ‘Money will Continue Lying at the Bottom of the Pyramid’.
In any country, often communication about banking would involve the role and responsibilities of the central bank. Only it is more in India. No communication about money, banking or economics in our country is possible without inclusion of Reserve Bank of India (RBI), one of the most respected and autonomous central banks globally. This is bankers’ bank and monitors how we earn and spend every rupee which is in our wallet, at what rate will our deposit earn us interest and what rate we will be paying in case we take loans. Apart from rupee supply, RBI manages foreign currency for the country as well.
Like an element is made of atoms and body is made of cells, the banking is constituted by ‘Transactions’. Huge number, by each bank, each branch, each day. It is madness. But there is method in it. As explained in our videos banking is ‘Money Changing Hands’. Each time it changes hands, the accounting result is a ‘Debit’ and a ‘Credit’ under Double Entry Method of Book Keeping. When bot debit and credit find an authorised place in the computer records of the bank, a completed ‘Transaction’ is borne. Banking is Record of Transactions. Millions and billions (or lacs and crores, also explained in General banking) of transactions: irrespective of value. But all in Indian Rupees, our national currency. We have explained Key Concepts.
The most easily identifiable product out of banking is a Cheque (sorry, not cash. Cash is printed, distributed and managed by RBI). Cheque is a very convenient, safe and popular method of completing a Financial Transaction between two parties. Similarly, Promissory Notes for lending and borrowing. These, along with Bills of Exchange complete the trinity under Negotiable Instruments Act, 1881. With this act and its provisions, banking would remain primitive. Hence, we have discussed this under General Banking.
Banking business, like any other business has its own constraints. Financial Inclusion (FI) is one of that. FI means reaching out to the underprivileged and unprivileged population, deeper and tougher geography and very small value of transactions. There is a huge gap between the country’s requirement of services and what banking industry can provide. To a good extent, the gap is being filled by Non-Banking Financial Companies (NBFC). They are doing a commendable job and this parallel banking is becoming larger and larger in size. This sector is represented by all: Government, Private and the Multinational sectors.
We have forcefully tried to drill the point in the minds of our viewers that banking, more than being about money and machines, is about people. People are the recipients of all the services of the bank: these are called customers. The provider of these services are also people: these are called employees. As the business of the bank grows, so grows the need of competent employees. As FTBL Searches Young Talent, the two components of banking success come to the mind: 1) sanctity of banker-customer relationship and 2) sanctity of each transaction. The bank requires certain basic qualities in its future employees. These have been explained. What has also been explained is how to write a decent resume (or CV or Bio Data) and how to face an interview.
While gathering knowledge of banking, it is important on our part to become aware of various practical aspects of banking. This is Awareness Banking. What all is happening around us: FinTech which is changing the way banking is being done for centuries. Gross Domestic Product (GDP) which determines the position of a country in the world. Knowledge of Payment and Settlement Systems in India which have all become digital. Credit Cards, Debit Cards and our very own RuPayLESS
|Banking And Financial Services Sector - An Overview|
|GBS0U1 – BFSI Sector – An Overview Details||00:07:28|
|GBS0U2 – Recognise A Bank Details||00:15:14|
|Drive Through Banking|
|GBS1U1 – Drive Through Your Banking Part 1 Details||00:09:05|
|GBS1U2 – Drive Through Your Banking Part 2 Details||00:09:36|
|GBS1U3 – Drive Through your Banking Part 3 Details||00:10:18|
|GBS1MCQ1 – Quiz||00:31:00|
|GBS1R1 – Reference Document Details||00:00:00|
|Learning Banking Is Child’s Play|
|GBS2U1 – Learning Banking is Child’s Play Details||00:14:26|
|GBS2MCQ1 – Quiz||00:14:00|
|GBS2R1 – Reference Document Details||00:00:00|
|Who Needs Banking The Most|
|GBS3U1 – Who Needs Banking the Most? Details||00:09:08|
|GBS3MCQ1 – Quiz||00:07:00|
|GBS3R1 – Reference Document Details||00:00:00|
|Reserve Bank of India (RBI)|
|GBS4U1 – RBI: Preamble, Functions, Subsidiaries Details||00:12:06|
|GBS4MCQ1 – Quiz||00:21:00|
|GBS4R1 – Reference Document Details||00:00:00|
|Record of Transactions: Key Concepts|
|GBS5U1 – Record of Transactions – Part 1 Details||00:10:29|
|GBS5U2 – Record Of Transactions – Part 2 Details||00:04:26|
|GBS5U3 – Record Of Transactions – Part 3 Details||00:05:29|
|GBS5U4 – Record Of Transactions – Part 4 Details||00:03:04|
|GBS5MCQ1 – Quiz||00:31:00|
|GBS5R1 – Reference Document Details||00:00:00|
|Negotiable Instrument Act|
|GBS6U1 – NI Act Part 1 Details||00:15:17|
|GBS6U2 – NI Act Part 2 Details||00:05:28|
|GBS6MCQ1 – Quiz||00:30:00|
|GBS6R1 – Reference Document Details||00:00:00|
|Non-Banking Finance Companies|
|GBS7U1 – NBFC Details||00:09:57|
|GBS7MCQ1 – Quiz||00:24:00|
|GBS7R1 – Reference Document Details||00:00:00|
|GBS9U1 – Awareness Banking Part 1 Details||00:13:39|
|GBS9U2 – Awareness Banking Part 2 Details||00:07:20|
|GBS9U3 – Awareness Banking Part 3 Details||00:13:20|
|GBS9U4 – Awareness Banking Part 4 Details||00:09:38|
|GBS9U5 – Awareness Banking Part 5 Details||00:11:33|
|GBS9U6 – Awareness Banking Part 6 Details||00:07:58|
|GBS9MCQ1 – Quiz||00:23:00|
|GBS9R1 – Reference Document Details||00:00:00|