of India. SBI has joined hands with BNP Paribas Cardif - a French company to sell insurance products. . Merchant Banking Merchant banks do not provide regular banking services.
A commercial bank or its subsidiary merchant bank may offer services like project counselling, underwriting, etc. required for starting a company. It is called merchant banking. They are mostly stock market related services.
Merchant Banks are controlled by Stock Exchange Board of India (SEBI) regulations also. . Retail Banking (Personal Banking) It refers to mass market banking which reaches out to large number of individual end customers. Apart from accepting deposits, their services include personal loans, vehicle loans, consumer durable loans, loans against equity shares, debit and credit cards, mortgages, etc.
commerce - - . . PM . Housing Finance Housing finance is provided against the security of immovable property of land and buildings.
Many banks such as SBI, Bank of India, etc, have set up housing finance subsidiaries. . Mutual Fund It is a financial intermediary that pools the savings of investors for collective investment in diversified portfolio securities in the capital market and money market. Many banks like SBI, Indian Bank, etc, have set up mutual fund subsidiaries.
. Venture Capital Fund Venture capital fund provides start-up share capital to new ventures of little known, unregistered, risky, young and small private business, especially in technology oriented and knowledge intensive business. Many commercial banks like SBI, Canara Bank, etc. have set up venture capital fund subsidiaries.
. Factoring Factoring is a continuing arrangement between a financial intermediary (factor) and a business concern (client) whereby the factor purchase the clients’ accounts receivable. Banks like SBI and Canara Bank have established subsidiaries to provide factoring services. .
Electronic Banking Functions This reduces cost and time and makes banking service convenient to the customers. It is operated through internet. This service is a substitute for drafts, cheques and other paper based transfer of funds. .
NEFT - National Electronic Funds Transfer This was launched by the RBI in . Under this electronic funds transfer system, bulk transfer of transactions are settled in