24 Oct
IPCI Info

Banking Channels

Banking Channels, all banking services were offered from the bank branches.
Automated Teller Machines:(ATMs) made it possible for customers to handle their transactions at multiple ATM locations across the country.
Tele-banking: supported by call centers and automated messaging made 37 it convenient for customers to handle many services from their home.
E-banking: (through the internet) Banking online or by phone allows you to make banking transactions such as transferring money, paying a bill, checking your balance or setting up a regular payment on your bank or building society’s secure website.
M-banking: (through mobile phones) have added another chapter of banking convenience.
Thus, with the aid of technology, the service offering of banks and convenience of customers.

24 Oct
IPCI Info

Society for Worldwide Interbank Financial Telecommunications (SWIFT)

Society for Worldwide Inter bank Financial Telecommunications (SWIFT) is solely a carrier of messages. It does not hold funds nor does it manage accounts on behalf of customers, nor does it store financial information on an on-going basis.
As a data carrier, SWIFT transports messages between two financial institutions. This activity involves the secure exchange of proprietary data while ensuring its confidentiality and integrity.
SWIFT, which has its headquarters in Belgium, has developed an 8-alphabet Bank Identifier Code (BIC). For instance HDFCINBB stands for:
• HDFC = HDFC Bank
• IN = India
• BB = Mumbai
Thus, the BIC helps identify the bank. 

24 Oct
IPCI Info

Real Time Gross Settlement (RTGS)

Real Time Gross Settlement (RTGS) transfers are instantaneous – unlike National Electronic Funds Transfer (NEFT) where the transfers are batched together and effected at hourly intervals. As with NEFT, the transferor needs to know the IFSC Code and the beneficiary’s bank account no.
RBI allows the RTGS facility for transfers above Rs2 lakhs. The RBI window is open on weekdays from 9 am to 4.30 pm; on Saturdays from 9 am to 12.30 pm.

24 Oct
IPCI Info

National Electronic Funds Transfer (NEFT)

National Electronic Funds Transfer (NEFT) is a nation-wide system that facilitates individuals, firms and corporate to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country.
In order to issue the instruction, the transfer or should know not only the beneficiary’s bank account no. but also the the IFSC (Indian Financial System Code) of the concerned bank. IFSC is an alpha-numeric code that uniquely identifies a bank-branch participating in the NEFT system. This is a 11 digit code with the first 4 alpha characters representing the bank, and the last 6 numeric characters representing the branch. The 5th character is 0 (zero). IFSC is used by the NEFT system to route the messages to the destination banks / branches.
Once the NEFT instruction has been issued, it will be effected between the concerned banks in the next settlement. During weekdays, between 9am and 7 pm, there are 11 settlements i.e. every hour. On Saturdays, there are 5 hourly settlements between 9am and 1 pm. The beneficiary can expect to get credit on the same day, for the first nine batches on week days (i.e., transactions from 9 am to 5 pm) and the first four batches on Saturdays (i.e., transactions from 9 am to 12 noon). For transactions settled in the last two batches on week days (i.e., transactions settled in the 6 and 7 pm batches) and the last batch on Saturdays(i.e., transactions handled in the 1 pm batch) beneficiaries can expect to get credit either on
the same day or on the next working day morning (depending on the type of facility enjoyed by the beneficiary with his bank).

23 Oct
IPCI Info

Deposit Insurance and Credit Guarantee Corporation (DICGC)

Deposit Insurance: Deposit Insurance and Credit Guarantee Corporation (DICGC) was set up by RBI with the intention of insuring the deposits of individuals. The deposit insurance scheme covers:
• All commercial banks, including branches of foreign banks operating in India, and Regional Rural Banks
• Eligible co-operative banks. The insurance scheme covers savings account, current account, term deposits and 30 recurring accounts. However, the following deposits are not covered by the scheme:
• Deposit of Central / State Government
• Deposit of foreign governments
• Inter-bank deposits
• Deposits received outside India
In order for depositers in a bank to benefit from the insurance scheme, the bank should have paid DICGC the specified insurance premium (10 paise per annum per Rs. 100 of deposit).
Under the Scheme, in the event of liquidation, reconstruction or amalgamation of an insured bank, every depositor of that bank is entitled to repayment of the deposits held by him in the same right and same capacity in all branches of that bank upto an aggregate monetary ceiling of Rs. 1,00,000/- (Rupees one lakh). Both principal and interest are covered, upto the prescribed ceiling.

23 Oct
IPCI Info

Cash Reserve Ratio (CRR)

Scheduled Commercial Banks are required to maintain with RBI, an average cash balance, the amount of which shall not be less than 6% of the total of the Net Demand and Time Liabilities(NDTL) in India.

Demand Liabilities include all liabilities which are payable on demand and they include current deposits, demand liabilities portion of savings bank deposits, margins held against letters of credit/ guarantees, balances in overdue fixed deposits, cash certificates and cumulative/ recurring deposits, outstanding Telegraphic Transfers (TTs), Mail Transfer (MTs), Demand Drafts (DDs), unclaimed deposits, credit balances in the Cash Credit account and deposits held as security for advances which are payable on demand.
Time Liabilities are those which are payable otherwise than on demand and they include fixed deposits, cash certificates, cumulative and recurring deposits, time liabilities portion of savings bank deposits, staff security deposits, margin held against letters of credit if not payable on demand, deposits held as securities for advances which are not payable on demand, India Millennium Deposits and Gold Deposits.

The CRR is calculated on the basis of average of the daily balance maintained with RBI during the reporting fortnight. Scheduled Commercial Banks are required to maintain minimum CRR balances up to 70 per cent of the total CRR requirement on all days of the fortnight.

23 Oct
IPCI Info

Banking Structure in India

The Banking Regulation Act, 1949 defines a banking company as a company which transacts the business of banking in India. Banking is defined as accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, order or otherwise. Section 49A of the Act prohibits any institution other than a banking company to accept deposits from the public withdrawable by cheque. RBI is the apex regulater for banks.
Banks can be broadly categorized as Commercial Banks or Co-operative Banks.
Commercial Banks include:
• Public Sector Banks (SBI, SBI Associates and Nationalised Banks)
• Private Sector Banks (Old, New and Foreign)
• Regional Rural Banks
Co-operative Banks include:
• Urban co-operative banks
• Rural / Agricultural co-operative banks.
Banks which meet specific criteria are included in the second schedule of the RBI Act, 1934. These are called scheduled banks.Scheduled banks are considered to be safer, and are entitled to special facilities like re-finance from RBI. Inclusion in the schedule also comes with its responsibilities of reporting to RBI and maintaining a percentage of its demand and time liabilities as Cash Reserve Ratio (CRR) with RBI.

23 Oct
IPCI Info

IBPS Release Score-P.O/MT-V

Dear Aspirants
IBPS has released the marks secured by the qualified and unqualified candidates in the IBPS PO Preliminary Exam. You can check the marks by clicking on the below link.
Check your Score

IBPS P.O -V Cutoff marks each section:

Subject Max Marks General Cutoff OBC SC/ST PWD
Numerical Ability 35 7.75 5.0 5.0 2.0
English 30 7.25 4.75 4.75 4.50
Reasoning 35 11.26 7.75 7.75 2.0
Sectional Cutoff   37.25 37.25 30.75/17.25 10-15
23 Oct
IPCI Info

PROGRAMS OFFERED

IPCI offers two specialised programs to help you prepare for your banking entrance exams(IBPS, Bank Clerk and Probationary Officer, RBI Officer, SBI Clerk and P.O).
The programs cover an extensive study of banking concepts that are necessary to be learnt to qualify the exams & getting trained in providing excellent customer service.
IPCI Offers:
Welcome To Banking Institute in Mumbai || IBPS Institute in Mumbai || Staff Selection Commission Institute in Mumbai || MBA Entrance Exam Centre in Mumbai || SSB Interview Coaching Centre || IBPS Institute in Mumbai || Bank P.O Exam Centre at dadar || IBPS P.O Exam Prepration Centre in Mumbai || RRBs Exam Institute in Mumbai || MAH – CET Coaching Institute || IBPS Clerk Institute at Dadar || Banking Institute at Dadar || Banking Institute In Mumbai || Banking Tuition in Mumbai || RBI Grade-B officer Exam Preparation|| Banking Awareness Coaching at Dadar || Quantitative Math Coaching || Logical Reasoning Coaching centre in mumbai || Banking Institute ||

23 Oct
MBA Exams

Common Admission Test (CAT)–2015 admit card

Common Admission Test (CAT)–2015 admit card
Authority conducting CAT Exam postponed the date of issuance for CAT Admit Card 2015.
Now admit card will be available, for download, from 01:00 pm on 25 October to 29th Nov. 2015. Common Admission Test (CAT) 2015 is scheduled to be held on 29 Nov. 2015.
The candidates who have submitted their application form withingiven official time, will only be eligible for downloading CAT Admit Card.
The admit card is a mandatory to appear in Common Admission Test (CAT) – 2015. Thus the candidates will not be permitted to participate in exam if they don’t have a valid CAT 2015 Admit Card.
All candidates are advised to carry a valid photo ID proof such as Passport, Driving License, PAN Card, Voter ID, Aadhar Card or any other valid photo ID for the purpose of verification at the exam center
Click Here to download
MAH-CET & SNAP New Batch Satrt from 1st November,