 In order to perform cash transactions through

bank, a business requires to operate an

account in commercial bank which is known
as 'Bank Account'.
 Security, Safety
 Various types of Loans
 Saving and Deposit facility
 ATM Services
 Money Transfer
 Internet banking, Mobile Banking
 Decidethe Type of Bank Account you want
to Open :

Saving Account, Recurring Account, Fixed

Deposit Account and Current Account.
 Saving deposit
 Fixed deposit
 Current deposit
 Recurring deposit
 Current account Saving account

 day to day  safe and potentially

transactions profitable
 No interest  Interest on deposit
 Unlimited transaction  Limited transaction
 Fixed deposit Recurring deposit

 Lump-some, specific  Regular income every

month, fixed amount for a
time interval specific time interval

 Longer the period  Interest rate depends

upon the maturity period
greater the interest
rate.  Partial withdrawal is not
 Premature and partial applicable
withdrawal facilities are
available
 TDS not applicable
 TDS applicable
 Approach any Bank of choice & meet its
Bank Officer:

The bank officer will provide a proposal

form (Account Opening Form) to open bank
account.
 Fill
up Bank Account Opening Form -
Proposal Form:

Necessary details regarding name, address,

occupation and other details must be filled in
wherever required. Two or three specimen
signatures are required on the specimen
signature card, latest photograph for the The
proposal form.
 Give
References for Opening your Bank
Account:

The introducer introduces by signing his

specimen signature in the column meant for
the purpose The reference or introduction is
required to safeguard the interest of the bank.
 Submit
Bank Account Opening Form and
Documents:

The duly filled in proposal form must be

submitted to the bank along with necessary
documents.
 Application in the Prescribed Form
 Photo ID proof: Three copies of either a PAN Card /
Voters ID / Passport / Driving License (Learners also
acceptable) / UID (Aadhaar) are required as the customer's
photo identity proof .
 Address proof: Telephone bill / Electricity bill / Bank
statement not more than 3 months old / Bank Passbook /
Ration Card/ Passport / Voter Id Card/ Registered Lease or
Sale Agreement for Residence/ Driving License / Flat
Maintenance bill / Insurance copy
 The name & address on the proof should match with the
name, residence address mentioned on the application
form.
 Officer
will verify your Bank Account
Opening Form:

He checks whether the form is complete in

all respects or not.
 Deposit
initial amount in newly opened
Bank Account:

After getting the proposal form cleared, the

necessary amount is deposited in the bank.
After depositing the initial money, the bank
provides a pass book, a cheque book and pay in
slip book in the case of savings account
 Customer service has great significance in
the banking industry. The banking system in
India today has perhaps the largest outreach
for delivery of financial services and is also
serving as an important conduit for delivery
of financial services. While the coverage has
been expanding day by day, the quality and
content of dispensation of customer service
has come under tremendous pressure mainly
owing to the failure to handle the soaring
demands and expectations of the customers
 Regularly update customer accounts –
Constant communication with customers
signal your genuine care for them. Keep
them posted on the status of their finances
and earn their respect for your
perseverance.

 Use customer data to customize service –

Customer data is collected for a reason. It’s
vital to knowing what your customer needs,
and can help you predict their behavior. To
gather data more effectively and use it to
your advantage, invest in technology
that integrates system and captures data
effortlessly.
 Monitor corporate social responsibility
performance and raise the level of
service – Bank tellers, CSRs—they’re your
first line of service providers. Training is not
enough to raise their skill level. You have to
follow that up with constant monitoring and
evaluation. Use customer feedback to enrich
your recommendations.
 Infrastructure facility
 Providing entirely separate enquiry counters
 Displaying indicator boards at all the counters in
English, Hindi as well as in the concerned
regional language.
 Providing customers with booklets consisting of
all details of service and facilities
 Reviewing and improving upon the existing
security system in branches.
 Rewarding the best branches from customer
service point of view by annual awards
 Customer service audit, Customer surveys.
 Training to staff.
2. Board Meeting to Review and Deliberate on
Customer Service
3. Branch Level Customer Service Committees
4. Cheque Collection Policy
5. Customer Compensation Policy
6. Customer Grievance solving Policy
7. Basic Savings Bank Deposit Account (BSBDA)
Deposit Insurance and
Credit Guarantee
Corporation
 Deposit Insurance and Credit Guarantee
Corporation (DICGC) was launched on 15th July
1978.
 DICGC is one of the subsidiaries of the Reserve
Bank of India.
 This corporation was derived by combining two
corporations namely, Deposit Insurance
Corporation (DIC) and Credit Guarantee
Corporation of India Limited (CGCI).
 DICGC aims to provide insurance for deposits and
to guarantee credit facilities to the customers of
banks.
 The role of DICGC helps establish trust in the
banking function amongst customers and
depositors in India.
 DICGC operates to benefit the small
depositors by securing the public confidence
relating to the banking system by provision
of deposit insurance. Hence, in case of
failure of a bank, DICGC undertakes to
compensate small depositors by repaying
them the amount deposited in any bank.
 All commercial banks including foreign,
local, co-operative banks and regional banks
are covered by the Deposit Insurance and
Credit Guarantee Corporation (DICGC).
 Every depositor is provided with Rs.1 lakh
guarantee for both the principal and interest
amount.
 If the customer has accounts in various
banks, all the accounts will be insured for Rs.
1 lakh each.
 If the customer has access to more than one
account in a bank, all the accounts will be
considered as one account.
 The depositors or customers can avail the
benefits of the deposit insurance for free of
cost.
 On the other hand, the deposit insurance
premium is paid by the insured banks to the
DICGC.
 DICGC is endowed to cancel the registration
of an insured bank if the bank does not pay
the premium for three continuous half-year
periods.
 DICGC can also restore the registration of a
bank if the bank makes requests for
restoration after payment of all overdue
premiums.
 Allbank deposits are insured by DICGC.
 They are
 saving deposits,
 current deposits,
 recurring deposits, etc.
 Deposits made by the foreign Governments
 Deposits made by the Central/State
Governments
 Inter-bank deposits
 Deposits made by the State Land
Development Banks with the State co-
operative banks
 Any amount due and deposit received outside
India
 The amount that is spared by the corporation
with the previous approval of the RBI
 It is mandatory for an insured bank to pay the premium
within the last day of May and November every year. If
the payment is not made within the allocated time
period, an interest of 8% must be paid along with the
overdue premium. The interest is calculated for the
number of default days taking into account 1 year as
365 days. The premium amount can be paid in the
following manner.
 It can be directly credited to the Deposit Insurance
Fund account that is maintained under RBI, Deposit
Accounts Department, Mumbai.
 It can be paid by crossed cheque, demand draft or T.T.
drawn and should be paid in Mumbai.
The funds that are maintained by the Corporation are as follows.
 Deposit Insurance Fund

 Credit Guarantee Fund

 General Fund

The Deposit Insurance Fund and the Credit Guarantee Fund are funded by the
insurance premium and by the guarantee fee. These funds are used to
compensate the respective claims. The General Fund is used for the
establishment and administrative expenses of the Corporation. The balance
amount from these three funds is funded to the Central Government securities.
The income received from such investments are credited to the respective funds.