1. BES171/Banking Transaction#1: Cheque Types, MICR, CTS, Negotiable Instrument Act
  2. BES171/Banking Transaction#2: CBS, E-Kuber, NEFT, RTGS; ATMS & Cards
  3. BES171/Banking Transaction#3: BHIM, UPI, IMPS, USSD, NPCi

Prologue: from now on, from now on, all Powerpoint available at https://mrunal.org/powerpoint

BES171/Banking Transaction#1: Cheque Types, MICR, CTS Truncation, Negotiable Instrument Act

  • 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.

Cheque Truncation
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?

NEFT RTGS ECS NACH E-Banking
Youtube Link: http://youtu.be/INxNZK8MwJ13

BES171/Banking Transaction#3: BHIM, UPI, IMPS, USSD, NPCi & Mobile Banking

  • 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.

BHIM UPI IMPS USSD Mobile Banking
Youtube Link: http://youtu.be/INxNZK8MwJ14

from now on, all Powerpoint available at https://mrunal.org/powerpoint