- BES171/Banking Transaction#1: Cheque Types, MICR, CTS, Negotiable Instrument Act
- BES171/Banking Transaction#2: CBS, E-Kuber, NEFT, RTGS; ATMS & Cards
- BES171/Banking Transaction#3: BHIM, UPI, IMPS, USSD, NPCi
Prologue: from now on, from now on, all Powerpoint available at http://mrunal.org/powerpoint
- Till now we’ve finished -the evolution of money, with focus on legal tender and blockchain technology. Now let’s see the bank money in greater depth because of upcoming SBI-PO exam and UPSC prelims.
- Negotiable instrument act 1881: various types of negotiable instruments (bill of exchange, cheque and promissory notes) and Amendments to this act in 2015 for dishonor and bouncing of cheques
- Differences between bill of exchange, cheque, promissory notes.
- Differences between stale cheque vs anti-dated and post-dated.
- Types of Crossing on cheque: bearer, general, specific.
- Stale cheque, anti-dated cheque and post-dated cheque
- Local cheque vs At Par Cheque.
- Check clearance systems: MICR Cheque vs OCR
- IFSC code, cheque truncation system (CTS) of NPCi and its CTS-2010 standard chequebooks.
Youtube Link: http://youtu.be/INxNZK8MwJ12
BES171/Banking Transaction#2: CBS, E-Kuber, NEFT, RTGS, ECS, NACH, White Label ATM, Rupay & EMV Cards
- Core banking solutions softwares: Finacle, BanCS, E-Kuber.
- Classification of digital payment systems: mechanisms of Immediate Payment Service (IMPS), Real Time Gross settlement (RTGS), National Electronic Fund Transfer (NEFT), National Electronic Clearing Service (NECS) , National Automated Clearing House (NACH), Cards system. How do they work? What are their benefits and limitations?
- Classification of Digital payment service providers as per RBI licenses.
- What is White label ATM? What software is used in ATM machine? Recalibration of ATM machines post Demonetization by SS Mundra Taskforce.
- What is micro-ATM?
- What is payment gateway? Why do we need MasterCard, Visa, American Express or RuPay network?
- Various types of credit cards and debit cards
- Technology behind card payment: magnetic strip, EMV chip, RFID and NFC: their range, benefits and limitations
- What is 3d secure technology in card payment and online shopping?
Youtube Link: http://youtu.be/INxNZK8MwJ13
- Understanding USSD, UPI and BHIM- Bharat interface for money by National payment Corporation of India.
- Use of application programming interface (API) in delivery of public services.
- Indiastack API, ispirit thinktank and development of BHIM.
- Recommendations by Ratan Watal committee for further innovation and competition in digital payment services.
- Next Lecture: challenges and reforms for adoption of digital payment in India, with Mains answer writing practice.
Youtube Link: http://youtu.be/INxNZK8MwJ14
from now on, all Powerpoint available at http://mrunal.org/powerpoint