MA0039 – RETAIL BANKING

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

Q.1 Log on to any commercial bank’s website and discuss the features of   retail banking liability

products.

 

Ans: Features of  retail banking liability products :

 

Commercial banks offer a variety of “liability products” to consumers. These products are known as “liability products” because they represent liabilities of the bank. Consumers generally know them as “deposit” products. Typically, liability products include checking and savings accounts, money market accounts and certificates of deposit (CDs). Bank liability products are useful to consumers since they provide a safe place to keep their funds and give them the opportunity to earn interest on cash that they may not immediately need. Liability products also give consumers access to cash via checks and ATMs, and except for most checking

 

 

 

 Q.2 Compare and contrast the debit and credit card.

 

Ans: Similarities :

 

1. Rewards Programs:

 

Both credit cards and debit cards offer points and cash-back incentives for card purchases. Points may accrue for day-to-day purchases, such as food, gas and clothing, as well as travel expenses. Contact your financial institution for program details, rate structures and restrictions, which vary widely.

 

 

 

 

 

Q.3 Briefly explain customers of retail banking.

 

Ans : Customers of retail banking :

 

Retail banking is when a bank executes transactions directly with consumers, rather than corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. The term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking. It may also be used to refer to a division of a bank dealing with retail customers and can also be termed as Personal Banking services.

 

 

Q.4 Discuss the relationship between banker and customer.

 

Ans : Relationship between banker and customer :

 

Discussed below are important banker-customer relationships.

 

1. Relationship of Debtor and Creditor

 

When a customer opens an account with a bank and if the account has a credit balance, then the relationship is that of debtor (banker / bank) and creditor (customer).

In case of savings / fixed deposit / current account (with credit balance), the banker is the debtor, and the customer is the creditor. This is because

 

 

Q.5 Discuss whether a cheque is a bill of exchange?

 

Ans : A cheque is a bill of exchange. But it has some special features. They are-

• A cheque must be in writing.
• The cheque must be dated.
• It contains an unconditional order to pay.

The drawer must sign the cheque. The signature of the drawer must match with the specimen signature given by the drawer (accountholder)

 

 

Q.6 Discuss few examples of product and process innovation in banks.

 

Ans : Examples of product and process innovations :

 

Baking has now become a challenging job. This challenge can be met by product and process innovations. We can attract customers by new products and process as per their need and choice. Area of operations of banks has been changed from conservative banking to innovative banking. Product innovation means modification in the existing available banking products and creation of new products to the customers. New products

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