Role of E-Finance
Global integration, deregulation, advances in the Internet technologies are dramatically changing the structure and nature of financial services. Internet and related technologies are enabling new financial service providers to compete more effectively for customers. The technological changes are accelerating financial sector development by lowering the costs, increasing the breadth and quality, and widening access to financial services. It can considerably improve efficiency and decrease the costs of internal business functions such as expense reporting, contract labor management, and time-and-billing procedures.
E-Finance is about web-enabled finance function which includes all areas of financial services industry. However, if its true benefits are to be realized, e-Finance is far more than just adding a web front-end to financial services. It is about changing fundamentally the value proposition of the finance function by redefining its core activities, changing the interaction mechanism between itself and its prime customers, and moving it up the value chain by creating and assisting others in the organization to create better value for shareholders.
Technology enablers play key roles in making the transition to e-Finance. An e-Finance transformation sees finance change its role from transaction processing to true business partnering, with far reaching implications on interactivity with customers, suppliers and others within the organization.
Developments in technology and deregulation are eroding the nature of what has made banks special. On the lending side, e-Finance allows non- banks financial institutions and capital markets to reach far more borrowers, including small and medium-size enterprises (SMEs). On the deposit and payments system side, many deposit substitutes (such as stored value cards) are emerging and many non-banks are offering payment accounts.
The evolution and growth of e-Finance has been phenomenal during the last decade. The adoption of internet technologies around the world and the implementation of key regulatory measures, such as electronic signatures and cross border contacts should spur further growth in e- commerce. Financial services industry was among the earliest adaptors of information technology. E-Finance sector of e-Business are interlinked. E- business in the financial services industry has been slow to evolve because of complexity of inter-organizational relationships, regulations, security concerns, lack of standards, and conservative principles.
E-finance builds on new business models and processes and demands new paradigm and software to clearly position finance as a service center within organizations. The benefits of e-finance are many and include: reducing the cost of transaction processing, expanding the information scope of accounting and finance’s systems, extending the information reach of the finance department and improving the quality of financial information. However, to realize these gains, finance professionals must embrace and leverage new technology, realign the traditional accounting mind-set and skill set, engage in process transformation initiatives, and focus on delivering value-added information services to the organization.
Furthermore, they must have a solid understanding and implementation of the technology platform. The impact of the Internet on financial services is clear. However, certain trends are emerging: expansion of B2B e-finance, automation of customer services, consolidation in local and regional financial operations, growth in global services, migration towards 24/7 global trading, blurring of business and product lines, disintermediation of traditional products and services, creation of alternative partnerships and alliances and consolidation of portals, storefronts, exchanges and marketplaces.
Technological developments should reduce the cost and enhance the security and convenience of dedicated digital media. There is a clear need to ensure open markets, minimizing the effect of switching costs, and police the pricing structures of both new and old transaction media. Regulation and supervision of payments markets should do much to promote the development of digital money. E-Finance can streamline traditional business processes and deliver value-added information services by using Internet-based technology. Leading finance, accounting, and IT executives are transforming the finance function by deploying a strategic application of the IT technologies to the financial services, or e- Finance.
E-FINANCE IN TATA MOTORS
AAGI PAUL C
18MBA01
INTRODUCTION
Tata Group is an Indian multinational conglomerate holding company headquartered in Mumbai, Maharashtra, India. Founded by Jamsetji Tata, the company gained international recognition after purchasing several global companies. One of India’s largest conglomerates, Tata Group is owned by Tata sons.
Tata Motors has auto manufacturing and assembly plants in jamshedpur, Pantnagar, Lucknow, Sanand, Dharwad and Pune in India, as well as in Argentina, South Africa, Great Britain, and Thailand. Tata Motors entered the passenger vehicle market in 1988 with the launch of the TataMobile followed by the Tata Sierra in 1991, becoming the first Indian manufacturer to achieve the capability of developing a competitive indigenous automobile.
Tata Motors is listed on the (BSE) Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, the National Stock Exchange of India, and the New York Stock Exchange. The company is ranked 226th on the Fortune Global 500 list of the world’s biggest corporations as of 2016.
E-FINANCE
E-Finance will empower both consumers and businesses, enabling them to reduce transaction costs, speedily process documents online, and have instantaneous access to information. For businesses, online finance can dramatically improve efficiency and decrease the cost of internal business functions such as expense reporting, contract labor management and time- and-billing procedures.
Role of e-finance in Tata Motors
Tata Motors is open to divesting stake in it’s financing arm, Tata Motors Finance, which is expected to have Rs.50,000 crore of assets under management by 2020, according to company officials.
Tata Motors Finance is restructuring it’s captive vehicle finance arm. It is trying to sharpen the focus on specific segments such as used vehicles, dealer and vendor finance.
As part of the move Tata Motors Finance, one of the largest financiers of new commercial vehicles, has converted itself into a crore investment company (CIC) from a non-baking financial company (NBFC) which was into asset financing, after Reserve Bank of India approval. It is now formally Tata Motors Holding Finance Ltd (TMHFL). The financing business is now being carried out by subsidiaries of the holding company.
The re-organization began in the middle of 2017 and is expected to be complete by May, said a person directly involved. The move was triggered by the heavy loss the finance arm had accumulated.
Elaborating on strategic goals, Tata Motors Finance Ltd (TMFL) CEO, Samrat Gupta said in an investor presentation that the company is aiming to be a Rs 50,000 crore asset under management group by 2020. As part of the plan, TMFL also plans to expand it’s reach by increasing total branches across India to 500 by 2020 from 270 at present, he added.
Moreover, Gupta said TMFL is also targeting to “attain 20% sustainable ROE” by 2020. Apart from driving up financing of it’s new vehicles by TMFL, Tata Motors also looking at the financing arm to help it’s partner suppliers with poor financial health.
AKSHATHA UMESH BABU 18MBA04 ABOUT THE COMPANY Thomas Cook group is the oldest and best known name in leisure travel with the history of innovation that started in 1841. Serving about 19 million customers around the globe is in a year and a focus on transforming the business so as to serve even more customers to deliver better holiday dreams.
Thomas Cook began his international travel company in 1841, with a successful one day rail excursion at shilling a head from Leicester to Loughborough on 5th July. From these humble beginnings Thomas cook launched a whole new kind of company- devoted to help Britons see the world.
ROLE OF E-FINANCE AT THOMAS COOK
E-finance is the use of electronic communication and computation in financial services and markets, E-finance including investing, banking mortgage lending, and insurance will grow at a dazing rate in future. E- Finance will empower both customers and businesses, enabling them to reduce transaction cost, speedily process documents online, and have instantaneous access to information, it helps business to improve efficiency and decrease the cost of internal business function i.e., time and billing procedures, labour management etc.
At Thomas Cook new digital products that the customers save up for and spend on their holidays. Straight forward money services let the customers keep the holiday glow long after they're home. Thomas Cook has appointed Antony Mooney to the newly created role of chief Financial service officer.
Thomas Cook financial services products include travel insurance, prepaid travel money cards and Thomas Cook direct debit payment offering. In the past years, Thomas Cook has put a renewed focus on its financial services offering and was one of the first provided in the UK to launch a multi- currency prepaid travel money card- Thomas Cook cash passport.
Thomas cook has come up with multi-currency travel card it has two different cards to offer:
1) BORDERLESS PREPAID CARD
2) ONE CURRENCY CARD
The prepaid card is the ideal travel partner and welcome, safe and simple alternative to carry currencies in cash, these prepaid cards are reloadable travel prepaid cards for cashless and worry-free travel for business purpose or leisure, 9 currencies can be loaded on the same.
Travel Company Thomas Cook India has teams up with Western Business Solutions and India’s DCB Bank to help the country’s SMEs perform cross-border trade payment, the idea is to leverage Western Union's payment technology and DCB Bank's trade finance expertise to improve relationship management and automate payment confirmation, ultimately enhancing procurement for SMEs.
Thomas Cook launches first of its kind to dedicated forex Card mobile APP to manage multiple currencies on-the-go, as part of its digital strategy, across it core Travel and Foreign Exchange Businesses, Thomas Cook’s foreign exchange business highlights the clear shift with a 47% growth in mobile transactions.
Hence in a strategic move to empower the new age, mobile-first Indian traveller, the company has launched the Thomas Cook Borderless APP. The first of its kind dedicated app, enables its multi- currency Borderless Prepaid Forex Card users to access and manage their Borderless Prepaid Card account anywhere, anytime, from the convenience of a smartphone, Thomas Cook new app aims to further delight the customers or users by providing safety- security and emergency assistance. Thomas Cook Holiday APP allows customer to search select and by their holidays instantly.
E-FINANCE IN CARGILL BUSINESS SERVICES
ANUSHREE HM 18MBA07 E-Finance or Electronic Finance can be defined as provision for financial activities or services and markets using electronic communication and computation.
Electronic finance includes investing, banking, mortgage, lending and insurance. E Finance empowers both consumer and the business by providing various benefits by enabling to reduce transaction cost, speedily process documents online and access to information. In business world it can improve efficiency and can decrease operating costs.
Cargill is an American privately held incorporated company which was started in the year 1865 by William W Cargill in Minnesota United States. Its headquarters is in Wayzata Minnesota, United States. The CEO of the company is David MacLennan. Cargill operates in 66 different countries including India
Cargill Business Services is a financial sector which got started in 2014 in India with an aim of dealing in financial sector. At present it has over 2000 employees all over India serving for Cargill Business Services.
Cargill Business Services looks after the finance of various regions like Africa, Asia Pacific, India, Pakistan, Europe, Latin America, Middle East and North America for the various products and services produced by Cargill like Animal Nutrition, Agricultural products like bio diesel, cotton, palm oil, Metals and Shipping, Cocoa and Chocolate. Each products will be having codes to identify based on their locations.
Cargill Business Services is a captive company in which all the business transactions undertaken in Cargill Inc will be made by their own employees.
The three successful keys for Finance Process Management at Cargill are
1. Identify and manage end to end process 2. Instil strong process governance from get go 3. Recognize that process improvement is a top goal
There are many fields under which the employees work such as: AR- Accounts Receivable, AP- Accounts Payable and RTR or R2R- Record- To -Report.
R2R or Record To Report is a Finance and Accounting management process that involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how business will operate. The system is used to data extraction, data collection, data validation, data transformation, voucher posting and so on.
AP- Accounts Payable is an accounting entry that represents a company’s obligation to pay off a short term debt to its debtors and creditors. They are mainly into business department responsible for making payments owned by the company to suppliers and other creditors.
AR-Accounts Receivables refers to a outstanding invoices a company has or a money client owe the company. It represent the line of credit extended by a company and normally have payments due within a relatively short term period.
Software used:
For the performance of financial activities the company uses various application software like JDE, SAP, Skype Business, Outlook and so on.
JDE is Oracle system developed by JD Edwards World General Accounting which provides flexible foundation to financial operations that streamlines process and enables to respond quickly to change. It helps to
organize, maintain, record and analyse financial information. Most of the transactions in the organization are undertaken through JDE.
Interactions between the employees are mainly done through Skype Business. Through Skype one can text, make calls and can even conduct business meetings through conference call. Most of the meetings are made through Skype. Through conversation of Skype various businesses related problems and doubts can be clarified.
Outlook is a web based tool used to send and receive mails. This is used to share some important documents, work files, request for leave etc. This is the tool used to send and receive business related mails.
SAP is an ERP system used to record financial transactions of the business. Cargill has partially implemented SAP and it is said that it will be replacing JDE in the coming years.
This is going digitalised in every sector. Everything is getting automated by reducing human requirement. Everything has its own advantage and disadvantage in it. Like that way E Finance is also has its own advantage and disadvantage so it is us who must know the beneficial use of it.
E-FINANCE IN AMAZON
BHAVYA MURTHY
18MBA08
Electronic Finance or E-Finance is defined as “The provision of financial services and markets using electronic communication and computation”. It empowers both the consumers and businesses, enabling them to reduce transaction costs, speedily process documents online, and have instantaneous access to information.
Amazon.com, Inc. is an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. The company was founded by Jeff Bezos on 5th July, 1994, in Bellevue, Washington. Amazon initially started as an online marketplace for books but later expanded to sell software, apparel, food, jewellery, electronics, video games, furniture and toys. Amazon has all the tools it needs to succeed in business – a huge customer base, digital expertise and an organization that's skilled in and committed to improving customer experience and service.
From payments to lending to checking accounts to insurance, Amazon is attacking financial services from every angle without applying to be a conventional bank. The company remains very focused on building financial service products that support its core strategic goal that is increasing participation in the Amazon ecosystem.
The company has built and launched tools that aim to:
Increase the number of merchants on Amazon, and enable each merchant to sell more
Increase the number of customers on Amazon, and enable each customer to spend more Continue to reduce any buying or selling friction
Thus the product developments and investment decisions of Amazon reveal that the company does not aim at building a traditional bank that serves everyone. Instead, the company has taken the core components of a modern banking experience and tweaked them to suit Amazon customers.
Amazon Payment
The Amazon Pay program is a payment service that provides customers with an ability to use the payment methods already associated with their Amazon account to make payments for goods or services. The service can be used both on Amazon and across other third-party e-commerce sites. It is a convenient and secure payment option for customers.
Amazon Lending
The Amazon Lending program is an invitation- only service that offers short-term loans to Amazon merchants. These loans can be used for funding inventory purchases and merchants can borrow anywhere from $1,000 to $750,000 with terms of up to 1 year. The Amazon Lending program also offers exclusive cards to customers. Given the extra perks and benefits, cardholders are likely to spend more on Amazon than non-cardholders. This benefits Amazon’s marketplace and boosts customer loyalty.
Amazon Checking Account
The Amazon Checking Account program is designed to appeal to millennial users, particularly those without
bank accounts or debit cards. The account is a completely digital and mobile product. Account holders can pay their rent and utility bills as well as stock up on essentials online. They also get a plastic debit card which would work like any other debit card. The fee for transferring money into the account is also at the lower end.
Amazon Insurance
The Amazon Protect program is a policy against accidental damage, breakdown, theft of goods purchased through the same e-commerce platform. Made in partnership with The Warranty Group, Amazon Protect offers coverage for two or five years from the delivery of the product. It covers incidents which are not typically covered by the manufacturers, as well as damages to a greater extent than that supplied by the producers.
The above key financial service products offered by Amazon support the company’s participants to buy, sell, and transact digitally and much easier than any other platform.
E-FINANCE IN KOTAK MAHINDRA BANK
CATHERINE ALMEIDA 18MBA10
Kotak Mahindra Bank
Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) issued the license to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.
It offers banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, general insurance, life insurance, and wealth management. E-banking uses the internet as the delivery channel by which to conduct banking activity, for example – transferring funds, paying bills, viewing and checking account balances, paying mortgages and purchasing financial instruments and certificates of deposits. The e-banking services are the most important services in the banking sector. It is useful for the both banks and the customers.
Kotak Mahindra bank offers personal finance solutions of every kind from savings account to credit cards, distribution of mutual funds to life insurance products. Net banking helps to view details across accounts, term deposits and DEMAT account – 24x7 Kotak Mahindra banks net banking services bring us the timeless world of instant banking. There is an option to move money within our own Kotak account to someone else’s account, to another bank via NEFT and demand draft. Other purpose for which net banking is helpful:
Transfer funds online between your third party accounts with Kotak Mahindra Bank, or any other bank account via NEFT, RTGS or IMPS Book a Fixed / Recurring Deposit and do premature withdrawal online Pay your Utility Bills, Credit Card, Recharge prepaid mobile / DTH using Kotak Bill Pay Recharge prepaid mobile phone and DTH accounts Book Air, Rail, Bus tickets and do Hotel bookings online Place requests for a cheque book, Payment Gateway registration and many more transaction services Re-generate Debit Card PIN, Activate/Deactivate Debit Card, Activate/Deactivate Debit Card for International Usage, Link Accounts Apply for New Debit Card, Upgrade Debit Card, Apply for Image Debit Card, Apply For Priority Pass, Apply for Card Protection Plan Invest/Redeem in Mutual Funds online and view current Mutual Fund portfolio
Kotak Payment Gateway is an internet based facility by which customers can pay online merchants by debiting the selected bank account. The customers can pay insurance premium, pay for magazine subscription,
make donation to charitable / religious institutions and transfer money to Kotak Securities for margin money settlement transfer or IPO funding. E- tax can be paid online on a monthly basis.
E-finance helps Kotak Mahindra Bank to have fewer transaction cost, less loan initiation cost. It enhances customer relationship management and more targeted customer with less manpower. The customers get cheaper finances, quick and early delivery of financial services. There is less personal visit to financial institutions and it is a more convenient process. With the use of internet the banks can provide their service to a much wider audience than they could do without it.
E-FINANCE IN AGRICULTURAL SECTOR WITH REFERENCE TO ASIAN DEVELOPMENT BANK OF INDIA
CHAITRA K N 18MBA11 The finance sector has a key role to play in allowing agriculture to contribute to economic Growth and poverty reduction. A rapidly evolving technological landscape is opening up new Possibilities to target and price credit, to share risk, and to harness information technology .Expand agricultural productivity. At the same time, many obstacles are not technological, so it is important to look for strategic places where policy and investment can help to improve .Outcomes for agricultural households.
Credit and risk are pivotal dimensions of agriculture everywhere in the world. Two core features of agricultural production are the long time lag between input investment and profit realization, and the large covariate risks imposed on agricultural production by weather shocks. This paper explains recent advances in the technology especially in E-Finance in the context of Asian Development Bank. E- Finance is generating new ways to target and collateralize credit, to price and spread risk, and to organize agricultural value chains. It represents a space where innovation can be made to serve the marginalized in ways that generate both welfare and economic growth.
As per 2017 ADB report finds that digital payment systems could close 40% of the unmet need for payment services and 20% of the need for credit. Information and communication technology is changing agriculture in many dimensions beyond financial services. Clearly, global access to mobile phones is fundamentally changing the way that farmers access price information, search for buyers, and build brands as they attempt to move up the value chain. A large number of rigorous studies conducted on
the use of specific technology in order to transmit price information or to conduct agricultural extension have arrived at mixed results. Recent innovations in risk sharing, such as the use of index insurance, have largely fallen flat due to lack of demand.
An E-Finance solution for Agriculture, such as the use of the block chain, is still largely unproven. Hence, this paper provide a summary of the recent rigorous empirical evidence towards the success of E-Finance innovations, and try to point the way forward for the most promising financial technologies.
Most developing economies begin with a very large share of the population engaged in smallholder agriculture, farming small plots with low capital intensity and trading little of their output. To become a direct contributor to economic growth, agriculture must become more capital intensive so as to allow it to bolster exports and contribute to overall productivity. This process requires heavy investments to be made in the farming sector which will in general amplify the financial risks faced by farming households.
To permit these investments to be made, then, Asian Development Bank consider both the access to finance enjoyed by agricultural households and the tools at their disposal to control the risks they face in making production more capital intensive. Agricultural land itself is the most important store of value that can be used to collateralize this investment, which creates an integral tie between land ownership rights and the default risk in agriculture. E-Finance is being used both to enhance the ability of farmers to use collateral and to permit new forms of more flexible, uncollateralized credit.
The array of digital technologies and E-Finance in Asian Development Bank has dramatically decreased the cost of providing services on the
margin, allowing the services to be offered in smaller packages to poorer customers. This holds out the promise that less developed countries and remote regions could also get the Benefit of E-Finance and they can use mobile/digital technology to drive agricultural productivity in proper ways. Big data tools allow institutions to target credit more precisely, thereby reaching better borrower pools and expanding access to uncollateralized credit.
Better measurement of climate shocks using various types of remote sensing technique permit a shifting of covariate risk within the agricultural system (although progress has been slower here than with credit). Asian Development Bank focus on E-Finance to target and extend uncollateralized credit in new ways and to allow new types of assets to serve as collateral and it also allow for an expansion of agricultural productivity.
Core policy innovations of Asian Development Bank include:
Regional regulatory harmonization to permit efficient international trade: International harmonization of mobile money and digital payment systems to enhance financial exchange. Harmonization of certification requirements for quality grading, organic designation, food safety, etc. Centralized investment in technology as a backbone for agriculture: Block chain based supply chain Architecture. Having been developed in one context this may prove to be highly scalable across countries.
NATIONAL PAYMENTS CORPORATION OF INDIA
CHARANYA
18MBA12
National Payments Corporation of India (NPCI) is an organization which was started for operating retail payments and settlement systems in India, an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) for creating a robust payment and settlement infrastructure in India. Taking into consideration the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” company with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems. The company is focused on bringing innovations in through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.
PRODUCT OVERVIEW
A. UNIFIED PAYMENTS INTERFACE (UPI) Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing and merchant payments into one hood. It also caters to the peer to peer collect request
which can be scheduled and paid as per requirement and convenience.
B. RUPAY RuPay is a new card payment scheme launched by the National Payments Corporation of India, has been conceived to fulfil RBI’s vision to offer a domestic, open-loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in electronic payments.
C. BHARAT INTERFACE FOR MONEY (BHIM) Bharat Interface for Money (BHIM) is an app that lets us to make simple, easy and quick payment transactions using Unified Payments Interface (UPI). We can make instant bank-to-bank payments and pay and collect money using just mobile number or Virtual Payment Address (UPI ID).
D. IMMEDIATE PAYMENT SERVICE (IMPS) For transferring funds real time and 24*7*365 interbank was a major challenge faced in banking industry. Only NEFT and RTGS were available to the user for fund transfer during the banking hours. IMPS provide robust and real time fund transfer which offers an instant, 24*7, interbank electronic fund transfer service that could be assessed on multiple channels like mobile, internet, ATM, SMS, branch and USSD (*99#). IMPS is an emphatic service which allow transferring of funds instantly within banks across India which is not only safe but also economical.
E. NATIONAL ELECTRONIC TOLL COLLECTION (NETC) National Payments Corporation of India has developed the National Electronic Toll Collection program to meet the electronic
tolling requirements of the Indian market. It offers an interoperable nationwide toll payment solution including clearing house services for settlement and dispute management. Interoperability, as it applies to National Electronic Toll Collection (NETC) system, encompasses a common set of processes, business rules and technical specifications which enable a customer to use their FASTag as payment mode on any of the toll plazas irrespective of who has acquired the toll plaza. FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly while the vehicle is in motion. FASTag (RFID Tag) is affixed on the windscreen of the vehicle and enables a customer to make the toll payments directly from the account which is linked to FASTag. FASTag offers the convenience of cashless payment along with benefits like - savings on fuel and time as the customer does not has to stop at the toll plaza.
F. NATIONAL AUTOMATED CLEARING HOUSE National Payments Corporation of India (NPCI) has implemented National Automated Clearing House (NACH) for Banks, Financial Institutions, Corporates and Government a web-based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature. NACH System can be used for making bulk transactions towards distribution of subsidies, dividends, interest, salary, pension etc. and also for bulk transactions towards collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc.
ELECTRONIC TRADING PLATFORM
IMMACULATE SANDRA N 18MBA14
In finance, an electronic trading platform also known as an online trading platform, is a computer software program that can be used to place orders for financial products over a network with a financial intermediary. Various financial products can be traded by the trading platform, over a communication network with a financial intermediary or directly between participants or members of the trading platform.
This includes products such as stocks, bonds, currencies, commodities, derivatives and others, with a financial intermediary such as brokers, market makers, investment banks or stock exchanges. Such platforms allow electronic trading to be carried out by users from any location and are in contrast to traditional floor trading using open outcry and telephone based trading.
Electronic trading platforms typically stream line market prices on which users can trade and may provide additional trading tools, such as charting packages, news feeds and account management functions. Some platforms have been specifically designed to allow individuals to gain access to financial markets that could formerly only be accessed by specialist
trading firms. They may also be designed to automatically trade specific strategies based on technical analysis or to do high-frequency trading.
Electronic stock exchange
An electronic stock exchange refers to a stock bourse where the majority if not all trades take place through electronic trading platforms or portals. Electronic trading is considered more efficient, superfast and accurate and carries out multi-billion dollar worth of trades in equity markets the world over every day. Today, most stock markets around the world are electronically-traded exchanges, where buyers and sellers meet on a virtually- created platform to exchange various kinds of financial securities such as stocks, bonds, currencies, commodities and derivatives.
In the years before the information technology revolution, stock exchanges used to be a crying well of stock brokers and buyers. Even on the Bombay Stock Exchanges, stocks used to be traded through the open outcry method in a pit, where brokers would shout the bid prices for a stock and the best one would win.
The first electronic trading platform in India was launches by the National Stock Exchange (NSE), which revolutionised stock trading in the country. The electronic screen based trading proved more efficient and simpler to use for traders and investors. Some of the key benefits of electronic stock exchanges include increased transparency in stock trading and higher liquidity, as companies are allowed to exchange shares from any part of the country. This facilitates higher competition and reduced transaction cost, helping investors earn more money and increase participation in the market.
What is online trading?
Trading on stocks has become as simple as shopping online. Investors can do that sitting in a coffee shop using a smart phone. All it needs is a good internet connection, subscription t 3-in-1 account, mobile banking
application and sufficient funds in the bank account. Fortunately, all hectic paper work has come down to a single click or touch on the mobile screen.
How to trade online?
1. Open Demat and Trading Account – to begin trading online one need to open an online trading account with an online broking firm. 2. Learn all the stock market basics – The stock market functions on the system of supply and demand. Learning to trade begins with gaining more knowledge about the share market investment. 3. Practice with an online stock simulator – online stock trading simulators are a great way to learn online trading. Since it is a simulator, the losses you make would not affect you, hence you can learn trade without any fear. 4. Draft a plan – it is very important to think through the investment strategies decide in advance how much one is willing to invest in a particular company and set limits on the amount of loss one is willing to bear. If all these points are kept in mind, online share trading will be an easy and profitable task. Stock trading is a long term investment and requires patience and perseverance.
How is electronic trading beneficial?
Explicit trading cost are of two forms – commissions and trading losses. Commissions are paid to the brokers for accepting and routing the order, clearing the trade, and maintaining the customer account. Trading losses arise because investors pay the bid-ask spread to suppliers of liquidity and because trading may have an adverse price impacts.
Implicit trading costs are the costs of delay and the adverse price effects that investors may experience after an order is placed. Electronic markets have reduced all these costs. Commissions are lower because electronic systems have reduced the costs of handling orders. High speed electronic
trading makes it easier for customer limit orders to compete with dealers, thereby reducing with high speed electronic trading.
To conclude stock markets are central to modern capitalist economies. Markets provide liquidity to investors that wish to save or consume. Electronic trading has improved the efficiency of stock markets and hence has reduced the cost of providing liquidity and has increased the accuracy of price signals.
Electronic trading benefits investors by increasing the speed and lowering the cost of trading while at the same time creating a complete audit trail that facilitates monitoring of brokers.
In electronic markets, there is less opportunity for professional traders to take advantage of public investors. But dependence on computers might also subject the markets to computer glitches or errors that might be avoided in a manual market. Another is that the low cost of trading can also lead to excessive uninformed trading in the market.
E- FINANCE IN HSBC BANK
JASIA NIKATH N
18MBA15 WHAT IS E- FINANCE?
The term ‘E-Finance’ is used differently by differently people. E- Finance in simple words is use of Internet and technologies in financial services. It has enabled the people to have any financial transactions without any human intervention. It saves time reduces the paper work and chances of fraudulent. Now days, with the emergence of e-commerce, E-finance has become a buzzword among the entrepreneur, business firms and investors.
Due to the increasing awareness about the use of internet and computer technology I commercial purpose, E- finance has emerged as solutions to simplify the complexion involved in dealing with finance.
E- FINANCE TO BANKING SECTORS
E- Finance to banking services has been more varied across countries. Internet banking in e-commerce is changing the finance industry, having the major effects on banking relationships. Banking is now no longer confined to the branches where one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts.
In true internet banking is increasingly becoming a “need to have” than “nice to have” service. The net banking, thus now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services.
HSBC- CONNECT CUSTOMERS TO OPPORTUNIETIES
UNPARALLELED NETWORK
HSBC is one of the largest banking and financial services organisations in the world, Headquarters located at London. United Kingdom, with operations in 65 countries and territories. They aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitious. It was the 7th largest bank in the world by 2018, and largest in Europe ( as of December 2018).
HSBC BUSINESSES
HSBC four global businesses serve more than 40 million customers worldwide. Their unparalleled network links developed and emerging markets, and spams the world’s largest and fastest- growing trade corridors.
“HSBC HAVE BEEN CONNECTING CUSTOMERS TO OPPOTUNIETIES SINCE 1865”
65 countries and territories their network covers Europe, Asia, North and latin America, and Latin America, and the middle East and north Africa. 238,000 employees- the number of full-time equivalent staff who work for HSBC worldwide.
HSBC BANK INDIA
HSBC BANK INDIA is a subsidiary of HSBC- Holdings plc , is a bank with its operational head office in Mumbai. It is a foreign bank under the Banking regulations Act, 1949 and thus is regulated by the reserve bank of India (RBI). Its Businesses include retail banking and wealth management, commercial banking and Global banking Markets.
HSBC Provides Wide Range of Financial services
HSBC Bank offers a host of credit cards in India that match the varied needs of their customers through HSBC Visa Platinum Credit Card, HSBC Premier MasterCard Credit Card and HSBC Advance VISA Credit Card, HSBC Fixed deposits, Smart Money, HSBC Demat Account and HSBC Debit Card etc.
GET EASYACCESS TO YOUR BANK STATEMENTS ONLINE WITH E- STATEMENTS FROM HSBC
GET YOUR BANK STATEMENTS ONLINE through by registering for E-statements on your bank accounts and credit card and view your statements online.
Help Conserve the Environment When You Switch to E- statements you help save paper and conserve the environment.
. With instant access, view your latest accounts and credit card transactions anytime at your convenience. . No more worries about lost or delayed statements. Stay updated on your card dues and payment dates . Participate in environmental change
ONLINE BANKING AT HSBC
In today’s demanding world, you need instant banking solutions for a better lifestyle. Presenting HSBC’s Internet banking service that gives you complete control over your bank and credit card accounts online. HSBC’s Internet banking is quick, easy and secure you to access to a wide range of transactions such as utility bill payments, fund transfers to your own HSBC accounts, viewing e- statements etc.
To Conclude by telling that Banking plays a vital role in E- financing, which allows countries to establish a financial system without functioning financial infrastructure by its much cheaper since it lowers processing costs for providers and search and switching costs for consumers. HSBC bank classified as one of the largest banking group and financial services origination which provides a variable services for its customers’ such as, local and worldwide money transfer, ATM cards, SME banking, Mobile banking, e- banking and online utility bill collection. Also HSBC ensures safety and protection of its customers.
TRANSPORTATION SECTOR
INDIAN RAILWAYS
KANCHANA.VENKATESH
18MBA16
Indian Railways (IR) is India's national railway system operated by the Ministry of Railways. It manages the fourth largest railway network in the world by size, with a route length of 67,368-kilometre (41,861 mi) and total track length of 121,407-kilometre (75,439 mi) as of March 2017. Routes are electrified with 25 kV AC electric traction while thirty three percent of them are double or multi-tracked. In the year ending March 2018, IR carried 8.26 billion passengers and transported 1.16 billion
tonnes of freight.[2] In the fiscal year 2017–18, IR is projected to have revenue of ₹1.874 trillion (US$27 billion), consisting of ₹1.175 trillion (US$17 billion) in freight revenue and ₹501.25 billion (US$7.3 billion) in passenger revenue, with an operating ratio of 96.0 per cent. Electronic Finance (E-Finance) A part of e-business and provides financial services through over the Internet, but in general, any network, public or private, can be included. E-finance is a part of e-business and provides financial services through over the Internet, but in general, any network, public or private, can be included.
The E-finance feature in Indian Railways through INDIAN RAILWAYS E-PROCUREMENT SYSTEM. Electronic Payment feature to make online transaction in IREPS has been launched in Jan 2012. Currently Integration is only with the State Bank of India for Internet Net Banking users only. Tender Document Cost, Bidder Registration Fee and Standing EMD of lots have been implemented and running successfully. E-Tender
Indian Railways E-Procurement System is the Application Software of Indian Railways for online activities for procurement of Goods, Works & Services, Sale of Materials, and Leasing of Assets through the process of E-Tendering, E-Auction or Reverse Auction. The application allows users to capture data at various levels of the procurement process in a secure manner using various security features like digital signature, digital encryption certificate for encryption and decryption of data etc.
The application can be accessed with valid user ID and Password in combination with a Digital Signing Certificate. The application is divided in different work areas depending upon the nature of activity viz. Supply and Services, Works, Leasing, Auction Sale etc. Vendor and Contractor users can pay the Tender Document Cost (TDC) and Earnest Money Deposit (EMD) by using Credit Cards, Debit Cards, and Net Banking through SBIePay. SBIePay is the payment gateway which is integrated with the IREPS for online payments.
iMMIS
Materials Management Information System was developed at Central Railway in 1998 initially for Stores office, Stores Accounts office and five major depots of the Central Railways. Since then, the system has undergone several customizations and is now successfully implemented on most of the Stores Depots, Divisions & Stores finance branches all over Indian Railways.
Integrated MMIS is a centralized MMIS hosted at CRIS. With implementation of iMMIS, the quality of work and output has improved; flow of information is very quick. The details of all modules implemented under MMIS are as below:- a) Purchase Module: The entire process of procurement i.e. from registration of Demand to release of purchase order and post contract activities is fully computerized. b) Finance Module: It is implemented at Stores A/c. in HQ. Bill passing activities, payments and Stores Monthly Summaries are being generated through MMIS. c) Depot Module: It is implemented in the depots. Sub modules are Ledger Section, Yard, Transaction Module, Receiving Section, Fabrication, Returned Stores, etc. d) Uniform Module: This module facilitated for monitoring of uniform supply to the railway employees. e) Sales Module: This module is for management of sale activity (disposal of scrap) of the railway. f) Local Purchase (LP) Module: This module has been designed, developed and implemented in Divisions & depot for petty purchase stock and non-stock items.
E- FINANCE IN ICICI BANK (RURAL)
KAVYA REDDY
18MBA18
ICICI Bank Limited is an Indian Multinational banking and financial service company headquartered in Mumbai, Maharashtra with its registered office in Vadodara, Gujarat. ICICI Bank was founded of 5th January 1994; which is over 25 years ago. As of 2018 ICICI Bank is the second largest bank in India in terms of assets and markets capitalization. The revenue of ICICI Bank in the year 2019 if Rs77,913 crore (US$11 billion).
ICICI Bank offers a wide range of banking products and financial services for banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized area like investment banking, non-life insurance, venture capital and asset management.
ICICI Bank is one of the BIG FOUR BANKS in India it has the subsidiaries in different countries like UK, Singapore, Hong Kong, Dubai international finance Centre, China etc.
Role of e-finance: The principle objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. ICICI Bank wanted to step in and relevant the landscapes of commodity-based financing. Its challenges is to come up with the scalable platform without having to build full-scale branches at each village.
They built the e-Commodity based Financing (e-CBF). The innovative application enables funding against agricultural commodities to farmers, traders and corporates. There was only one way it could be done i.e., to create a system that could help dissociate risk from the personal credit- worthiness of a farmer and shift the risk to collateral.
The ICICI Bank model is radically different because it uses a combination of automated tools to score credit rather than personally meeting farmers.
The e-CBF marks every market and tracks every accredited warehouse. When the masters are set in the system, every accredited warehouse, its total capacity and the commodities it can store are defined and are given weights that go into the risk calculation algorithm.
The e-CBF ids and web based system that can be accessed by logically appointed warehouse management agent’s (WMS), who interacts with farmers on ICICI Bank’s behalf. Since they operate from remote locations, WMA’s can only access e-CBF on narrow band internet- sometimes using CDMA based mobile a medium.
The rural business was launched with skeletal capabilities, and as more processes began to emerge, the bank’s IT team in conjunction with the rural agri-business team- identified new requirements and best ways to add relevant controls. e-CBF also helps ICICI Bank provide financial support to corporates in the same way it helps farmers.
By providing prices online to farmers in remote locations, the system also ensures that farmers can get a better price for their produce than they have in the past. It efficiently reduces farmer exploitation by intermediaries at local mandis, who withhold information from farmers to force them to sell low. The e-CBF system also has various checks and controls build-in.
For example: if a warehouse issues receipts beyond the capacity stated on the system, a fraud alert is flagged. The application is also capable of matching profiles against other database like defaulter lists from RBI or CIBIL (Credit Information Bureau, India).
A new version of the system is also being planned that would enable a real time updating of files as against the batch file uploading that happens today. “It is fairly a complex system and we have about 4,000 people using it at any given point of time. I believe it has emerged as a kind of lifeline for what we are trying to do in rural India.” Says Vohra.
E – FINANCE IN HDFC BANK KAVYA M.B 18MBA19
E – Finance means it is a use of internet and technologies in financial services. It has enabled the people to have any financial transaction without human interaction. Internet Banking and e-commerce is changing the banking sector. E – Finance in practice includes e-payment, e-trading and e – banking.
HDFC bank is having its own app where customers can do e-banking like they can check their account balance they can easily track their transaction they have done. Funds transfer, Payment of bills, Recharging mobile phone, Open fixed deposit where the app them to open fixed deposit in no time at all.
It allows the users to check their share portfolio instantly looking Demat account and also users can purchase mutual funds and insurance products. Users can also make various service requests like for new chequebook etc. and can also stop payments if users feel that they have issued a cheque wrongly. Users can also check their credit card transactions and it allows them to clear the bills through that app.
Each bank has different security features to ensure that users have a safe, secure and hassle-free mobile banking experience. HDFC mobile banking app includes all of the features and ensures users have a safety convenient mobile banking. Some of the Online transaction mode done by the HDFC bank to its customer on their demand are:
Immediate Payment Service [IMPS] Since NEFT is not available for use on weekends and bank holidays, users can try using IMPS which is 24*7 available. The minimum transfer value is Rs.1 and maximum value is Rs 2 Lakh. To use this service users need to register in bank and they should provide the mobile number and MMID of the beneficiary as IMPS transfer can also be done through mobile phones. Mobile Money Identifier (MMID) is a seven digit unique number issued by the bank. National Electronic Funds Transfer(NEFT) allows individuals, companies and other entities to transfer funds electronically from one bank to another within India. It should be noted that NEFT operates only during business hours on weekdays and it cannot be done on Sundays, bank holidays, second Saturday and fourth Saturday of the month. The minimum transfer value is Rs 1 and there is no upper limit. Real Time Gross Settlement(RTGS) it’s a method of transferring money electronically within the Indian banking system. The minimum amount of for each transaction is Rs 2 lakh and the upper limit Rs 10 lakh. The Beneficiary account receives the money immediately. HDFC bank offers customers a comprehensive range of transactions across multiple products through its netbanking channel.
200+ transaction available in the net banking. Up- to-the second details of users account Access anytime, form anywhere
No queues to stand in, or turns to wait for Some of the transaction can do through netbanking are:
Checking account balance and download 5 year account statement in 5 formats, instantly Book Fixed deposit/ Recurring Deposit Pay Utility bills Request for Demand draft View loan details Apply for IPO Transfer funds between accounts within HDFC bank and other bank accounts Request for Debit card PIN regeneration View of tax credit statement (Form 26 AS)
E-FINANCE IN FMCG SECTOR KAVYASHREE 18MBA20
Fast Moving Consumer Goods are the 4th largest sector in the Indian economy. There are 3 main categories in the sector:
Food and beverages-19% Health care -31%. Household and personal care-50%
The FMCG sector has grown from US$ 31.6 billion in 2011 to US$ 52.75 billion in 2017-18. Growing awareness, easier access and changing lifestyles have been the key growth drivers for the sector. In the last few years, the FMCG market has grown in faster pace in rural India compared with urban India. Due to 100% Foreign Direct Investment allowed by the Government in food processing and single brand retail and 51% in multi- brand retail. This boosts employment and supply chains, consumer spending and encouraging more product launches.
The Goods and Service Tax (GST) is beneficial for the FMCG industry as many of the FMCG products come under 18% tax bracket against the previous 23-24%. Also, the rates on the food products and hygiene have reduced to 0-5% and 12-18%.
India’s online portal is no longer limited to books, electronics, clothing or shoes. Their online shopping list now includes consumer items such as soap, shampoo, hair oil and household items such as grocery, vegetables and packed food among other.
Electronic platforms are the best platforms for launch of products as it helps FMCG companies receive customer feedback and data. FMCG experts said it is a go-to-market strategy for these companies to promote their products first on an e-commerce portal to create buzz about the product and judge consumer behaviour.
The online shopping for food and grocery items is gaining acceptability among Indian consumers. Online players such as Amazon and Flipkart along with online grocers such as Big basket and Grofrs have boosted the consumer confidence for online food and grocery shopping.
In India, rise in internet penetration or better internet connectivity, online banking, mobile wallets, the overall rise in consumer spending and improved infrastructure is leading the way for increased online FMCG sales. Online portals are expected to play a key role for companies trying to enter hinterlands.
The internet has contributed in a big way, facilitating a cheaper and more convenient means to increase a company’s reach. There are various payment methods such as paypal, paytm, google pay, BHIM, bharat pay, debit and credit transaction etc.With the help of online payments save from long queues of ATMs and banks and no need of withdraw from account
It is estimated that 40% of all FMCG consumption in India will be online by 2020. The online FMCG market is forecasted to reach US$ 45 billion in 2020 from US$ 20 billion in 2017. The impact of digitalization has evolved FMCG industry where all payments take place online as India aims at cashless. Hence all sectors have follow online payments and do transactions.
E-FINANCE ON TEXTILE CLOTH INDUSTRIES KOMALA.R
18MBA21. Textiles and clothing industries:-
Textiles and clothing is a diverse sector that plays an important role in European manufacturing industry. European legislation on fiber names and labeling aims to ensure consumer protection and provide correct information to stakeholders. The European Commission is engaged in dialogues with non-European countries on policy and regulatory issues that affect the textiles and clothing industry.
Role of Textiles and clothing in the European:
Textiles and clothing is a diverse sector that plays an important role in the European manufacturing industry, employing 1.7 million people and generating a turnover of European 166 billion. The sector has undergone radical change recently to maintain its competitiveness with a move towards products with higher value added.
Textiles and clothing legislation
Regulation (European) No 1007/2011 on fiber names related labelling and marking of the fiber composition of textile products, aligns laws in all countries, protecting consumer interests, and reducing the risk of fraud. Other legislation relating to chemicals, toys, and personal protective equipment may also affect textiles and clothing.
Textiles and clothing legislation
Other legislation affecting textiles and clothing
Expert Group on textile names and labelling
The Commission Expert Group on textile names and labelling provides expertise and advice related to fibre names and labelling. And International trade textile and clothing industry is a leader in world markets. European exports to the rest of the world represent more than 30% of the world market while the European Single Market is also one of the most important in terms of size, quality and design. The Commission works to ensure a level-playing field in international trade. It does this at multilateral level through the application of World Trade Organization agreements, at bilateral level through negotiations on Free Trade Agreements, and via dialogues such the Euro-Mediterranean Dialogue on the textile and clothing industry, and bilateral dialogues with Colombia and Chinese. A textile industry is now more prefer than the automobile textiles.
E-FINANCE IN HEALTH CARE SECTOR KRITHIKA R 18MBA22
E-finance is defined as “The provision of financial services and markets using electronic communication and computation” It makes it easier for people to have financial transactions sitting at one place and also reduces lot of paper work and chances of fraudulent as everything is handled by internet on secure websites.
Healthcare organizations are the most complex organizations due to ever increasing population in the world and people falling sick more often. Healthcare sector is one of the largest sectors in India both in terms of revenue as well as employment and it is also considered as the fastest growing sector. Healthcare operates like any other business organizations and relies on strong financial management. When the sector has well
organized financial system, they are able to provide good and efficient service to the customers.
The healthcare industry is under immense pressure. Medical staff and skills are in short supply, budgets are getting tighter and patients’ expectations are changing. At the same time demand for services is increasing and the cost of healthcare is rising drastically. Due to the digitalization, the date stored will make the doctors analyze and diagnose the symptoms faster.
Due to lot of this ushering technology, the health care sector has the following services such as monitor technologies, tele medicine, home diagnosis which has made the usage of internet more wide. Billing payment online is one of the major activities in e-finance of health sector.
Hospitals like Narayana healthcare, Apollo etc. has such facilities where patients can pay their hospital bill online. Electronic billing is the process
where the healthcare provider electronically submits a bill to the patient and then the patient pays for the service rendered. In this fast growing digitalization, patients are more keen on digital payments rather than paying in cash as it is easier and less time consuming and the risk factor is also less.
By having this system, the hospital can cut down on lot of costs and it also serves as records of patients’ information in the system and would be helpful in the accounting process.
Importance of E-Finance: -
E-finance looks at all organizational business processes as interrelated activities. It eliminates all non-value added activities. E-finance Offers faster and more accurate financial transactions by processing at a lower cost. it provides Quick and accurate external as well as internal reporting. it is also used for Real time gross settlement, Proactive and strategic planning, Effective risk management, for Ensuring compliance and control. E-finance helps in Total Quality Management and in Effective decision making as it offers analysis on a real time basis.
E-FINANCING IN HOSPITALITY SECTOR KRITHIKA VELU 18MBA23
E-financing is defined as the provision of financial services and markets using electronic communication and computation. It has a greater importance and is playing a vital role for developing economies like India, China, Brazil. E-financing has enabled for people to have any financial transactions without any human interactions. E-financing has become a buzz word among the entrepreneur, business firms and investors.
MARRIOTT INTERNATIONAL’S E-FINANCING
Marriott international is an American multinational diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. It is the third largest hotel chain in the world with 30 brands in 131 countries and territories around the world. Its
headquarters are Bethesda, Maryland, U.S. It is ranked #33 on Fortune’s 100 best companies to work with.
The outstanding results of 2017 of Marriott hotel are deeply gratifying, this has made them to innovate at every level to meet the increasing demand and sophisticated travelers and to meet the disrupted competitors. The primary internet address of the company is Marriott.com, the company provides a link to electronic filing with the US Securities and Exchange Commission including the annual report on Form 10-K, their quarterly reports on Form 10-Q, current report on Form 8-K. They make all such filing available free of charge.
On the reservation of the hotel there is a button titled “ e- certificate” this is a new way that the company adopts and it’s a way of e-financing, in this process during the time of reservation the customer points are been used which they would have received it earlier where only 2 out of 3 rooms will be charged. The company also uses another way of e- financing which is called gift card or e-gift cards. At the participating location gift cards can be used for stay, dining, spa, golf and many more. The money in the gift card of a customer may be used multiple time until the entire value has been redeemed.
The email or purchase receipt containing the e-gift card number will need to be presented at the time of transaction. They also use Marriott Bonvoy Bold credit card in which the customer would be given 50,000 bonus points after they spend 200$ on purchase within the 1st three months from opening the account they would earn 3 points for every 1$ spent at the participating hotel. They receive silver Elite status on each account anniversary as a card member where they get one free night stay. In same manner they have another way of e-financing called Platinum Elite status wherein they get 7500$ eligible purchases on the card in a calendar year. The Marriott hotel also issues a legacy card, it is a prepaid card issued as a part of the former card processing system. It is the 1st generation 15digit
Marriott prepaid card. Legacy card begins with the following set of numbers. The legacy card does not expire and it can be redeemed. The company has mapped all legacy cards to a new card number within the current processing system. The hotel should call the number on the back of the card, read the legacy card number and the new number will be recited so they may enter into system manually. The legacy card may be purchased prior to the transaction in the hotel.
The card does not get expired so once the amount in the card is over the hotel can redeem the points by obtaining the new card number. The company has also launched the first Marriott co- branded credit card with no annual fee- the new Marriott Bonvoy Bold. The customer who wants to jumpstart their travel strategy with the hotel points without having to pay for the credit card with a high annual fee.
The current sign up bonus for Marriott Bonvoy Bold is 50,000 bonus. It earns 2 points per dollar spent on other travel purchases including airfare, train tickets, taxis etc. These are some of the ways in which the Marriott International does e- financing, as e- financing is emerging as one of the key aspects in today’s scenario.
Through e-financing Marriott hotel has reached a lot of customers by providing various facilities as mentioned above. It has also led the hotel to generate additional revenue from being allowed to offer new fee-based services and magnifying the usage of existing product and services offered. By providing such card facilities to customer, it avoids payment through checks and the costs of processing those checks will decrease.
E-FINANCE IN ITES
(INFORMATION TECHNOLOGY ENABLED SERVICES) SECTOR
KUSUM
18MBA24
E-Finance in simple terms means the use of technology and internet in the conduct of financial services. E- Finance in the present days world scenario is growing in terms of its exposure as well as it impact on the economy. People have got new avenues of job, avenues in investment by sitting in any part of the country or world and even managing funds to assets everything online.
Digitalization has also impacted the financial field to a greater extend. Electronic finance otherwise known as E Finance helps the business grow their services via internet for all its stakeholders. These stakeholders might be their customers, suppliers, employees, government, investors or general public.
GROWTH OF E-FINANCE IN ITES SECTOR:
ITES stands for Information Technology Enabled Services ITES sector is a very old sector but the growth in terms of it adapting to new technology has just seen growth. They have started using various technologies for their operations and have utilized the important technology tools to its
optimal. ITES is also called as the BPO sector. In this type of sector there will be enormous people with different skills and talents.
The “Finance department" is one of the major departments in any industry. It is the backbone of the company. Now focusing on the finance department of the ITES sector. It is very important to know that electronic finance has helped the management to carry their task easily as everything is happening online. They make payments to their major suppliers who can be people who can be consultancies or who can also be any equipment supply company or any other.
It helps them to pay salary to their employees easily as the online app helps them to credit money to all at once. It helps the investors track their share in the company and also know the amount of growth the company will show in future. E-finance also helps the investors to get their part of dividend or interest directly to their account. It helps the management in investing in any tangible or intangible asset.
Hence, E-finance is growing in an ITES sector and it has become very important for any sector today to use electronic services in any of its departmental operations. Usage of internet is a vital and hazardous, so with respect money every organization must be careful and conscious.
E-FINANCE IN FLIPKART
LEKHASREE M 18MBA26 INTRODUCTION
“Finance” is a commercial term, refers to the use of monetary resources by entrepreneur, firm or any business house in a project or venture. The state of business is evaluated by the position of its finance. With emergence of e-commerce, the field of finance has not been untouched by technology. As a result of the use of internet and technology in the field of financial activities, its allocation and financial services, the term “E- finance” came in to the light. It simply means the allocation, implementation and treatment of financial resources through a virtual communication system i.e., by using internet technology. As it is itself a key component of “E-commerce”, the various components that empower the concept of E-finance are like e-banking, e-payment system, e-cash, digital currency and IMPS (International Module Phone Service). COMPANY PROFILE
FLIPKART is one the leading e-commerce players in the country. With over 11.5 million book titles listed, 11 different categories, more than 2 million registered users and sale of 30,000 items a day. Flipkart was started by Sachin Bansal and Binny Bansal in Bangalore, Karnataka in 2007,with initial capital of INR 4 lakhs. As of 2017, its revenue was Rs. 199 billion (US $2.9 billion). Its subsidiaries are Myntra, Jabong.com, PhonePe, Ekart, Jeeves and 2GUD. The company initially focused on book sales, before expanding into other product categories such as consumer electronics, fashion and lifestyle products. The company is currently owned by Walmart (77%).
E-FINANCE IN FLIPKART Flipkart’s has provided the sellers on its platform an opportunity to avail loans at competitive interest rates from NBFC’s [Non-Banking Financial Companies] and banks.
The loan gets approved in one day and money credited within 48 hours. Flipkart sellers can avail loans up to INR 3 crore, at an interest rate of 9.5% for a period upto 12 months. Revamping its sellers financing program ‘Growing Capital’ to empower MSME’s [Ministry of Micro, Small & Medium Enterprises], Flipkart’s move will benefit more than 1lakh sellers on its platform. Flipkart has partnered with 10 lenders as part of the program. MSME sellers need to go through a minimal documentation process for getting the loan. Financial partners for the program include State bank of India, Bank of Baroda, Axis Bank, Aditya Birla Finance, Development Bank of India, LendingKart, Indifi and Happy Loans. The average loan size is INR 7 lakh, but sellers can avail loan up to INR 3 cores, at interest rates as low as 9.5%. The tenure on term loan an dcredit line options is upto 12 months.
Flipkart CEO Kalyan Krishnamurthy said the program will help sellers scale their businesses. This is considered a part of Flipkart’s core mission of developing shared value in the ecosystem and helping digitise India through the latest tech and innovations.
Ranjith Boyanapalli, head of Fintech and Payments Group, Flipkart said the key aim of fintech arm of Flipkart I sto use technology to power financial inclusion within the country.
The ‘Growth Capital’ program will help Flipkart reach a traditional underserved market and make financial services more accessible to all. Through this, the seller community on Flipkart will be able to transform their businesses and realise their growth aspirations. It is a natural progression of our Fintech journey to reach out to the seller community and empower them with easily accessible low-interest financing options.
To ensure a speedy and hassle-free service, Flipkart has also built an end-to-end API integration, from application disbursal, with its lending partners to provide a complete digital loan application experience for its sellers. They can access and monitor their loans directly through the company’s seller portal. Flipkart’s in-house technology analyses seller performance metrics for lenders to enable real time credit offers.
E-FINANCE AT MANAPPURAM FINANCE LTD
MARIA
18MBA28
Manappuram Finance Ltd is a leading non-banking financial company (NBFC) in India. It was founded by the late V.C. Padmanabhan in 1949. Manappuram Finance was first started in Valapad of Thrissur District in Kerala .Today Manappuram gold loan branches are over 3300 in 27 states & UT’s. Manappuram branch network is extensive for its fluent operations.
SERVICE AVAILABLE TO CUSTOMER ONLINE PORTAL
Through the Customer Online Portal, eligible customers can opt for online gold loan (OGL) disbursement, i.e. avail a fresh gold loan where the loan amount is instantaneously transferred to his bank account.
The other services we offer are:
Make payments to gold loan account(s) through DEBIT CARD/NET BANKING View statement of account of gold loan Download the OGL Pawn Ticket Down load OGL One-time Registration form
Manappuram Finance Limited eService’s
Manappuram Finance Limited eService’s bring almost our full range of services to the comfort of your own home or office. All services are available anytime, and accessible anywhere in the world with an internet enabled device. You can, for instance, opt for an online gold loan (OGL) disbursement where a new gold loan is disbursed by
immediate transfer to your bank account. Other services include payment of interest or principal to your gold loan accounts through DEBIT CARD/NET BANKING and generating a statement of your account. Online Gold Loan (OGL) customers can download the OGL pawn ticket.
Make online repayments
After you have registered for Manappuram Finance Limited eServices, you can remit interest and/or principal to your gold loan account by accessing the Manappuram customer portal using your registered User ID and password.
The system will display complete information about your Gold Loan accounts. Select the appropriate loan account and make repayments through your Debit Card or Net Banking account.
Online Settlement of Gold Loan
Customer can settle the gold loan by accessing the Manappuram customer portal through his User ID and password. After entering User ID and password, the system will give complete information about the Gold Loan accounts. By selecting the appropriate loan account, the
customer can remit the settlement amount through the following options:
a. Debit Card b. Net Banking c. Mrupee Wallet
Chargeable on online payment
Customer will have to bear his bank’s service charge, if any, for online payments. Presently, for payments through Net banking facility, the customer has to pay Rs. 13/- plus service tax, i.e. Rs.14.82, and this is irrespective of the transaction amount. If customers choose the Debit Card option, they have to pay 1 per cent of the transaction amount plus servicetax. 0.95 % plus service tax on the value of the transactions done through Mrupee wallet.And Credit Card are not allowed for online payments.
Why Online Gold Loan
Access gold loan from anywhere, anytime Free insurance cover for your gold Easy documentation, instant approval, convenient 24X7 online repayment Hassle-free, paper-less transaction from your mobile device Free safe custody for your valuable gold No hidden charges, fully transparent
Online Gold Loan (OGL) by Manappuram Finance
Loans up to Rs.1.5 crore Pay interest only for the exact number of days 100% safety and security for your gold jewellery Enjoy anytime liquidity
Online Gold Loan App
The Manappuram OGL app lets you avail a gold loan anytime, anywhere, even from the comfort of your home. Now you can pay interest, check account statement, or locate the nearest Manappuram Finance branch conveniently with this easy-to-use mobile app. make it your trusted companion for all your financial needs. Go Digital the easy way, with Manappuram Finance.
Integration of Finance and technology is important for a business in todays’ evolving world it gives a wide range of opportunity and makes business easy.
ROLE OF E-FINANCE IN AMERICAN EXPRESS
MEGHA ADHIKARY
18MBA30
E – Finance is a part of e- business and provides financial services through over the internet, but in general, any network, public, can be included.” - By IGI GLOBAL
“E – Banking is a method of banking in which the customer conducts transaction electronically via the internet.” - By Oxford Dictionary
American express company is an American multinational financial service corporation. The company is best known for its charge cards, credit cards and travellers cheque businesses. American express is a publicly traded company in the financial services industry. It offers both credit lending and network processing services.
American express company had launched their online brokerage facilities in the year 2000. It was activated from November. Barry Murphy, senior vice president of American Express Brokerage of the year 2000 said that “Online trading shouldn’t be an end unto itself, but it can be a powerful tool in executing a financial plan to meet client’s varied needs.” The service called as American Express Brokerage clients could not only trade online but also get as much advice as they wanted and whenever needed.
American express’s product and services are: cards products which includes
Consumer cards, Card acceptance outside the United States, Express Pay, Commercial cards and services, Non-proprietary cards, Merchant account
Non card products
Traveller’s checks, financial advisors, International bank, Travel, Publishing, Individual banking. .
American Express generates a significant portion of its revenue from transaction processing. Many merchants accept American Express cards and are willing to pay the transactional fees associated with processing because of the advantages that come with offering American Express as a payment option to customers.
In an American Express transaction the merchant acquiring bank communicates with American Express as both the processor and
issuing bank in the transaction process. Merchant acquiring banks must work with the American Express processing network to transmit communications in American Express transactions, American Express is also the issuer which authenticates and approves the transaction. Merchants pay a small fee to American Express for its processing network services which are part of the comprehensive fees involved with a single transaction. As both a processor and high quality lender, American Express has built a strong reputation in the financial services industry.
ROLE OF E-FINANCE IN ASHOK LEYLAND
MEGHNA ADHIKARY
18MBA31
Introduction
Ashok Leyland is an Indian automobile company which is situated in Chennai, India. It is owned by the Hinduja Group.Founded from the year 1948, it is the second largest commercial vehicle manufacturer in India, fourth largest manufacturer of buses in the world and 10th largest manufacturer of trucks globally. Operating nine plants, Ashok Leyland also makes spare parts and engines for industrial and marine applications. It sold approximately 140,000 vehicles in FY 2016. It is the second largest commercial vehicle company in India in the medium and heavy commercial vehicle segment. With passenger transportation options ranging from 10 seaters to 74 seaters, Ashok Leyland is a market leader in the bus segment. In the trucks segment Ashok Leyland primarily concentrates on the 16 to 25-ton range. However, Ashok Leyland has a presence in the entire truck range, from 7.5 to 49 tons.
Products and services
Its main product line includes Trucks, Buses, Defence & Special Vehicles and Engines for Indian and overseas market.
Ashok Leyland – is the market leader in Indian bus market, offering CNG, Double Decker and Vestibule bus variants.
Ashok Leyland – is the market leader and pioneer for multi axle trucks and tractor-trailers Ashok Leyland – enjoys market supremacy in Diesel engines for Industrial, Gen-set and Marine applications. Ashok Leyland – is the largest supplier of logistic vehicles to the Indian army.
Ashok Leyland Ltd stock market value
NSE: ASHOKLEY
Rs 66.75 INR +0.100 (0.15%) increase
Role of E- finance in Ashok Leyland
1. Ashok Leyland tie up with Induslnd Bank - IndusInd Bank Ltd. and Ashok Leyland "Hinduja Group flagship" have entered into an agreement, where IndusInd Bank will provide channel finance facilities to Ashok Leyland’s dealers. The dealers of Ashok Leyland will now have access to ready upstream finance from IndusInd Bank to meet their working capital requirements in addition to the existing retail finance arrangements. This tie up is a part of the strategic focus of IndusInd Bank in developing the supply chain business. 2. Ashok Leyland ties up with Suryoday Small Finance Bank for vehicle loans - The two partners have signed an initial agreement to enter a strategic financing partnership for three years, Ashok Leyland. Under the pact, the bank will provide end-to-end financial solutions to Ashok Leyland's customers for auto loans across India. The partnership with Suryoday Small Finance Bank will benefit our stakeholders and customers with financial products, which are specifically tailored for hassle-free experience 3. BSIV Implementation in Our Innovation - A strong push in Industries and Infrastructure development by the Government
of India has led to a multidimensional improvement in the M&HCV TIV. However, the Commercial Vehicle industry has witnessed the maximum number of new entrants. 4. e-Diagnostics- e-Diagnostics is first-of-its-kind Bluetooth diagnostic device that can easily pinpoint the error code for customers’ vehicle by connecting the smartphone with their vehicle via Bluetooth. A handy troubleshooting list pops up to help the mechanic or the driver resolve the error in a simple step by step visual process. 5. i-Alert - i-ALERT is a state-of-the-art telematics technology that lets customers track and trace their vehicles in real time. i- Alert’s live dashboard displays information regarding all the vitals of their vehicle’s health in real time. Moreover, if their vehicle needs attention, i-Alert sends the alerts directly to their mobile. It provides information on vehicle performance, predicts service requirements, helps in planning maintenance schedules for quick and efficient service at service centers, and ensures faster turnarounds, thus helping vehicles stay on-road longer.
MIDHATH AFSHAN 18MBA32
Axis Bank is the third largest private sector bank in India. With effect from 30th July 2007, UTI Bank Changed its name to Axis Bank. The Bank has its Head office in Mumbai, Maharashtra.
Corporate Internet Banking:
For ease of the banking and using your Axis Bank account, customers can try corporate internet banking. All their needs, transactions and other activities can be easily done online from anywhere and anytime. They believe in saving papers. Business Internet Banking provides you with a number of features available by simply using your account details. With these internet banking services, the bank aims to ensure that customers are comfortable because customer convenience is their prime focus.
TFConnect App:
TFConnect app is a user-friendly platform for all your trading transaction needs. View all ongoing, pending and initiated transactions on your personalised dashboard and conveniently receive confirmations regarding trade transactions. Security features of the app includes two fold verification via OTP and MPIN. Faster, digital and secured trade transactions are a few benefits of the app along with many others. Features of the TFConnect app like dashboard, real-time status are quite useful.
Features:
1. Simple, convenient, user friendly and secured trade finance app to approve Trade transaction.
2. Allows corporates to
View trade transaction dashboard.
Authentic trade transactions entered by the corporate initiator
NAIMA ERUM
18MBA33
Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany.
The bank is operational in 58 countries with a large presence in Europe, the Americas and Asia. As of April 2018, Deutsche Bank is the 15th largest banking the world by total assets. As the largest German banking institution in the world, it is a component of the DAX stock market index.
https://in.images.search.yahoo.com/yhs/search;_ylt=AwrwJRi6YWdd1 1gAI1YO9olQ;_ylu=X3oDMTBsZ29xY3ZzBH
The E-Finance services that the bank use are as follows: Loan Interest Section The Provisional Interest certificate for the current year and Final
Interest certificate for the previous year for all active Home Loan accounts can be downloaded from the online portal. This facility comes at absolutely no charge.
Verified by Visa Deutsche Bank AG, India in association with Visa International
('Visa') lets it’s customer shop online securely with their existing International Debit Card. Debit Card can only be used on merchant websites that subscribe to services of 'Verified By Visa™' (VbV). db Direct Debit Deutsche Bank Savings or Current Account can be used to make online purchases at various merchant websites. The customer need not carry Debit Cards or cash anymore. Only require db Online Banking Login ID and Passwords.
Online Bill Payment The customer can just login to db Online Banking, register billing details and start paying utility bills, insurance premiums etc. What’s more, this facility is free of charge. db Quick Pay db Quick Pay is a quick and easy one-stop payment solution that helps customer make a host of online payments at convenience without the hassles of registering billers.
Online Tax Payment Direct taxes can be paid online using your Deutsche Bank Savings or Current account. The facility is available through our arrangement with
IDBI Bank Ltd. for payment of all kinds of direct taxes such as Income Tax, Advance Tax, TDS / TCS etc.
Fund Transfer The customers can transfer funds online to both Deutsche Bank and non-Deutsche Bank accounts in over 250 cities across India. They have a option of initiate the fund transfer instantly or schedule the fund transfer on a later date. also schedule repetitive periodic payments with one single instruction.
Online Trading db Trade Pro is a unique platform for online trading in shares, through Sharekhan Ltd. to further Deutsche Bank’s commitment of providing holistic solutions with Financial Planning.
Online Investment The customers can manage their investment and finances as per their convenience with online wealth management tool - db WealthPro.
Book Fixed Deposit Fixed Deposit Account can be opened online in 4 simple steps using db Online Banking.
These are some of the prominent E-Finance services provided by Deutsche bank.
E-FINANCE IN CANARA BANK
NIDHISHRI.L
18MBA35
E-finance is defined as the provision of financial services and markets using electronic communication and computation with the help of internet by the use of hi-tech IT. It can also be concerned with the use of funds by business firms (electronically) to maximize profit by way of cutting various costs and to achieve greater reach. Anytime, anyplace anywhere services at the lowest cost with the help of hi-tech IT can be achieved through e-financing. E-financing facilitates more accurate and faster financial transactions along with quick internal reporting. Also useful in strategic analysis, Total quality management, effective decision making and risk management.
E-finance technology were used by majority of businesses of banking and financial intermediaries by the end of 1990’s. E-finance made its presence significant in securities market where online trading had taken larger market shares of about 28% of brokerage services being provided online.
New software applications with inbuilt multiple security control structures enabled banking sector to take up high end IT- technology to provide various products and services virtually. ICICI was the first bank to launch website for banking in 1996 and in 1997 it started Internet banking which was governed by Information Technology (IT) Act, 2000. Through various channels like computers, mobile phones, kiosks, e-finance is spreading around the globe, including in emerging markets.
Canara Bank which is one of the leading public sector banks in India also use e-financing extensively in its Banking operations. Canara Bank is celebrating Digital India Celebrations on 1st July 2019 for completing 4yrs of Digital India successfully.
Canara Bank provides,
Digital services like:
Real Time Gross Settlement Fund Transfer BHIM AADHAAR Pay BHARAT QR/ BHIM QR BHARAT BILL PAY USSD BBPS PoS Machine Debit and Credit Cards Internet and Mobile Banking Prepaid cards Canara Diya Corporate Net Banking
Other Online services like:
Online SB A/C Opening Sukanya Samriddhi Online Payment Online Bill Payments-Water, Electricity, Gas, DTH, Telecom bill. Online Tax Payments
Contactless MSME loans in 59minutes
E-auction-Offices, shops, apartments, factory buildings (Commercial and residential properties under SARFAESI Act) Canara Easy Fee -Next generation fee payment processing platform IMPS Transaction MMID services
It provides mobile app products like:
empower -Canara UPI CanMobile- Mobile Banking CanaraSwipe- Missed call/SMS Canara e- Info Book Can Money ePass Sheet
Grievance Redressal/ Service request like:
Online Retail Banking Online Corporate Banking Online Mobile Banking Digital Signature (PKI) Can Digital
E-FINANCE IN BANK OF BARODA NIKITHA SHARON
18MBA36
Bank of Baroda is the second largest public sector bank in India. It is an Indian multinational, public sector bank which also provides financial services. Vijaya bank and Dena bank merged with bank for Baroda to provide better service to their customers.
Bank of Baroda is launching an online market place to its customers offering banking services and farm-related products.
The bank will be offering different schemes and services on its e- commerce platform. Which can be greatly benefited by its customers. Bank of Baroda focuses on strategizing and enhancing the online digital capabilities with a focus on creating a marketplace for the customers to fulfill their services relating to the customer’s daily needs and also to bridge the gap between the farm-related issues.
The bank also put forth a request proposal stating the need for a partner who will support and assist them to supply digital commerce platform and provide support for its implementation.
The online portal will provide assistance to merchants on catalog management, purchase management fulfillment, pricing, promotion and other similar services.
Analytics will be used as a tool to ascertain the customer demands, behavior, cross selling and sub-selling of products, digital security management, advisory management, location based offers and publicity management.
In the farming category the bank offers different products like Agri crop loan, farm machinery seeds, and fertilizers. The bank also provides loan against different assets like loan against gold and all kinds of insurance products, investment products etc.
Punjab National Bank
E- Finance Services
RAKSHITHA NJ
18MBA39
PNB Retail Internet Banking
There is 24/7 facility for Fund Transfer. FD and RD account can be opened through online Customers can Stop Payment of cheque thorough PNB Retail Banking Customers can change credit card limit Future Transaction Management -Provision for recurring & scheduling transactions Customers can create their Own transaction limit
PNB Corporate Internet Banking
Quick view of account details/ Nominee details/ Cheque inquiry/ Statement of Account. Instant registration & activation with online User & role Management Simplified Limit Setting process & Beneficiary Management. Utility Bill payment services -Electricity/mobile/telephone etc. Other Payments/Services: Railway / Airlines tickets, travel hotel booking [like IRCTC, Airlines] Education fees can be paid online. Subscriptions/donations can be transferred to charitable institutes/organizations.
PNB ONE
This PNB one helps the customers to avail all the e – finance services at one step. The customers can carry out their transactions through this PNB one application. Customers can view their recent transactions They can open term deposit account, invest in mutual funds and insurance. Customers can also obtain the following benefits Auto Payment Registration Change card limit Damaged card replacement Investment in government initiatives and schemes Applying for locker.
PNB VERIFY
Customers using internet banking will get a message instead of OTP for verification of transaction. This message is to verify the transaction of the customer. The customers need to verify the transactions through PNB Verify mobile app within 3 minutes. The user should login to the REL-ID mobile app to view the notification and approve or decline the transaction.
E-FINANCE
S VENKATARAJALAKSHMI 18MBA41
E-finance-including investing, banking, mortgage lending, and insurance- will grow at a dazzling rate in the coming years. It's a reflection of the spectacular growth of the Internet. In just five years, the World Wide Web has gone from being terra incognita to becoming a ubiquitous medium for transacting business, sharing information, and communicating with people all over the world.
E-finance will empower both consumers and businesses, enabling them to reduce transaction costs, speedily process documents online, and have instantaneous access to information. For businesses, online finance can dramatically improve efficiency and decrease the costs of internal business functions such as expense reporting, contract labour management, and time-and-billing procedures. Plus, by providing personalized information about consumers, the Internet lets companies engage in "one-to-one marketing," allowing them to tailor the online experience to fit unique individual needs.
For consumers, the Internet is becoming part of daily life. About 44.4 million American households will be online by the end of this year, up
from 12.7 million in 1995, according to IDC. That represents an increase of nearly 250 percent in five years. According to industry experts, traffic on the Internet doubles every 100 days.
INTRODUCTION TO CITIBANK
Citibank (stylized as citibank) is the consumer division of financial services multinational Citi group. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico operated by its subsidiary Banamex. The U.S. branches are concentrated in six metropolitan areas: New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. In 2016, the United States accounted for 70% of revenue and Mexico accounted for 13% of revenue.
ROLE OF E-FINANCE IN BANKING SECTOR WITH REFERENCE TO CITIBANK
1. Online Banking:
Free Online Bill Payment. Citi Text Banking. Account Alerts. Virtual Account Numbers. Online Bank Statements. Online Transfer Services.
Citi Financial Tools (plans for the future in one place with expense analysis tools, customizable budgets, viewing categorized transactions and more.).
Online and Mobile Fraud Protection 24/7 Customer Support.
2. Monitoring customer Accounts:
Helps in viewing transactions on customer account. Viewing statements for the last 18 months. Signing up for Citi Alerts. Linking customer accounts for a single login. Analysis and tracks customer spend pattern.
3. Management of Accounts:
Get User ID and Password to access customer account online. Change customer mailing address, phone numbers and E-mail address. Signing up for e-Statements. View or edit customer Standing Instructions on customer account. Helps customers to send queries securely using the mail box option. Re-order Cheque Books. Customer’s queries answered through the self-help 24x7 tool, "Ask Me".
4. Operation of customer Accounts:
Orders Demand Drafts.
Transfer funds across banks in India using National Electronic Funds Transfer (NEFT) / Real Time Gross Settlement (RTGS) / Immediate Payment Service (IMPS).
Chooses from over 100 Billers in India to pay customers utility bills or insurance premium. Repay customers Home Loan from your linked Citibank Account. Helps customers to access Personal Loan details online. Helps customers to view, buy and sell Mutual Funds
E-FINANCE IN PRAGATHI KRISHNA GRAMIN BANK SHALU
18MBA43
The e-finance plays an important role in the functioning of the economy through intermediation. Intermediation can take on many forms beyond the traditional banking service of taking deposits and making loans. Investment banks intermediate between investors and bond issuers. Brokers perform a similar function in connecting the buyers and sellers equities. Pragathi krishna grameena bank provide safe and efficient payment system essential to support the day-to-day business transactions. Pragathi krishna grameena bank includes cash and non-cash payments as well as transactions in financial assets Pragathi krishna grameena bank includes pooling resources to combine a number of small deposits to make a large loan. Pragathi krishna grameena bank provides liquidity. Pragathi krishna grameena provide digital payments such as :- 1) BANKING CARDS:- Pragathi krishna grameena bank provide krishna credit card, debit card, Rupay and kisan card so you can use this card for digital payments. For example customer can store card information in digital aaps or mobile wallets to make a cashless payment.
2) USSD:- This is another type of digital payment method it can be used to carry out mobile transactions without downloading any aap. 3) AADHAAR ENABLE PAYMET SYSTEM:- AEPS can be used for transactions such as balance enquiry, cash withdrawal, cash deposit, payment transaction, aadhaar to aadhaar fund transfer, etc Pragathi krishna grameena bank also internet banking, mobile wallets, digital paymets aaps ( BHIM, DIGI, UPI)
FINANCIAL EXCLUSION - EXTENT a) General
51.4% of fanner households are financially excluded from both formal and informal sources. b) Region-wise
Exclusion is mot acute in Central, Eastern and North-Eastern regions-
Having concentration of 64% of all financially excluded farmer
Households in the country Overall indebtedness to formal sources of
Finance alone is only 19.66% in these three Country. c) Occupational Group
Marginal fanner households constitute 66% of total farm household.
Only 45% of the households are indebted to cither formal or non -formal
Sources of finance. d) Social Groups
Only 36% of ST farmer households are indebted (SC and other Backward
Classes – OBC 51%) mostly to informal sources.
MEDIA AND ENTERTAINMENT INDUSTRY SHARMILA M 18MBA44 The film industry is mainly composed of large, multinational corporations, major studios, and independent studios. Many of the top-name film companies are part of larger media conglomerates that also include television, cable, newspaper, and magazine organizations. Within the film industry are subsectors: film production, film exhibition, and film post- production. The top movie companies include 21st Century Fox, Comcast Corporation, The Walt Disney Company, and Viacom Inc.
In general, media and entertainment jobs include reporters, correspondents, and broadcast news analysts; writers and authors; editors; photographers; graphic designers; translators; film and video editors and camera operators; broadcast and sound engineering technicians;
announcers; producers and directors; and performers—from actors to musicians and composers. The workers who are behind the scenes and focused on the business side are public relations people, talent agents and representatives, marketing managers, entertainment lawyers, and distribution workers, among others.
E - FINANCE IN SYNDICATE BANK SHAYEEZA FATHIMA 18MBA46 Syndicate Bank is one of the major public sector banks incorporated in India. The bank provides a range of financial products and services to the retail customers including housing loans, retail trade loans, vehicle loans, consumer loans, education loans, mortgage loans, and investment loans.
INTRODUCTION
E – Finance has evolved as the new development in the field of IT and Banking sector.
E – Finance is the provision of financial services and markets using electronic communication and computation. The main benefit of E – Finance is the electronic payments systems. This benefit has eased the work of many banks and financial institutions. E – Finance platforms enable internet payments systems to be linked together.
ROLE OF E – FINANCE IN SYNDICATE BANK
E – Finance plays a very prominent role in the functioning of syndicate bank. A major development of E – Finance in the bank is the SYND E – PASSBOOK.
To provide convenience to customers the bank has introduced SYND E PASSBOOK. It is a mobile application where the customers can view the electronic version of passbook for CASA accounts, online or offline in their smartphones. The SYND E PASSBOOK has the following features;
It provides with account details of the customers. It acts as a physical pass book in electronic form. It displays the account statements of the customers. It allows the customers to change their Mobile Pin (MPIN).
E – Finance has also helped the bank in providing other electronic based services to their customers such as;
TAB Banking Syndicate Global Cards Online Tax Payments E – Filling of Income Tax Online Bill Payments
Therefore, E – Finance in today’s era plays a crucial role in the day to day activities of people and also makes the job of the bankers easier through electronic systems applied and operated in the banks that provides benefits to the bankers such as less time consuming, easy accessible online applications and also to maintain the customers records electronically.
RBI: ELECTRONIC-FINANCIAL SERVICES IN INDIA SHIVARANJINI.V 18MBA47
The Reserve Bank of India (RBI) published its first guideline on mobile banking in 2008, and the conversation on integrating Aadhaar numbers with bank account numbers on one hand and mobile numbers on the other started as soon as UIDAI was established. However, it is the post-2010 period, with rapid growth of the e-commerce sector in India, that saw rise of digital financial services and intermediaries, and hence the demand for regulatory intervention in the sector. The regulatory framework of the digital financial sector in India, including both mobile banking and online transactions.
Introduction
The advent of new technology usually leads to innovation in industry. Regardless of the sector, new technology is almost always adopted to make tasks easier and more efficient, and this applies to the financial sector as well. Advancements such as credit cards and ATMs have fundamentally changed the process of banking and finance. The past few years have seen some major innovation in the sector, leading to a shift in the way people interact with the financial system of the country. Pursuant to the same, the Reserve Bank of India has responded to these advancement.
The e-commerce industry in India has seen unprecedented growth over the last few years, largely because of a higher level of internet penetration
among the population. From a worth of $3.9 billion in 2009, the worth of the Indian e-commerce market went up to $38.5 billion in 2017. The number of online shoppers was 35 billion in 2014, and is now it is 32.70 billion in 2018. The newfound presence of the e-commerce industry in the country has led to a new form of payment: the online wallet. A more convenient method than using a credit card for every transaction, it is expected to achieve a compound annual growth rate of 68% this year.
Infrastructure for Online Payments between Private Parties
Pursuant to the goal of enabling infrastructure for financial transactions between private parties, the NPCI implemented the Immediate Payment Service (IMPS) in 2010. The service offers an instantaneous, 24x7 interbank electronic fund transfer service, which can be utilised through mobile, internet, or an ATM.
This service is superior to the previously used NEFT service, as NEFT transactions are settled in batches and hence are not in real time. Also, the NEFT service is only available during the working hours of the RTGS system, while the IMPS can be used at any time.
Building on the IMPS service, the NPCI has developed the Unified Payments Interface (UPI), which will allow customers to transfer money and make payments almost as easily as they send messages. Multiple bank accounts can be linked to one application, and the need for sharing sensitive information such as bank account numbers, OTPs, or mobile numbers has been eliminated. This interface has been touted to have a large impact on the payment space, and help the economy move closer to a
‘less-cash’ economy. On launch of the Interface in April of this year, 29 banks concurred to provide UPI services to their customers, and 21 of those banks have already joined the UPI as payment service providers.
On downloading the UPI application of a bank, a ‘virtual identifier’ is generated by the application which works as a payment identifier for sending and collecting money, and is protected by a single click two-factor authentication. The virtual ID is an email ID-like format: for example, if a customer named ABC had an account in HDFC bank, his virtual ID would be ABC@hdfc. However, the customer has the choice to use his/her mobile number or Aadhar number in place of the name. In order to protect the customer’s privacy, there is no account number mapper anywhere except the customer’s bank.
When a customer selects UPI as the payment mode for an online transaction and the request reaches the merchant’s server, it is immediately passed onto the acquiring bank’s server where a UPI collection transaction is initiated on the customer’s virtual identifier. This request reaches the customer’s phone through the UPI server on the basis of the virtual identifier, and the customer authenticates it using the MPIN to complete the transaction.
The UPI can be utilised for real-world transactions as well. Instead of handing over cash, the customer can simply tell the cashier his/her virtual ID. The cashier can then initiate a pay request through the UPI, and the customer can authenticate it on his/her phone, leading to the completion of the transaction.
Conclusion
The RBI, setting out a goal of financial inclusion and a less-cash economy, has kept up with developing technology in the financial sector, in order to ensure that consumers can glean the benefits of these advancements, and the goals it set out can be achieved. E-commerce is growing in the country, leading to a new financial space being created, which the RBI is privy to. The NPCI has been a boon in this sector, achieving a considerable amount since it was launched.
E-FINANCING IN STATE BANK OF INDIA SHRUTHI.M 18MBA49 India is undergoing a digital transformation and witnessing an accelerated pace of innovation and technology adoption. During FY2018, it launched an integrated omni-channel digital platform YONO as an integral part of their digital drive. This is India’s first fully digital service platform designed to facilitate banking as well as lifestyle needs of their customers through an all-encompassing B2C marketplace.
With an all-pervasive digital transformation taking hold, they are highly motivated to integrate and absorb multiple technologies into their operational culture. The potential and the productivity of new age technologies like block chain, machine learning, artificial intelligence and IoT with data and analytics as their foundation have been recognized by the Bank. State Bank of India (SBI) offers an array of services to its vast clientele across 25,000+ branches and 32 countries. SBI wanted to empower its customers to avail services through digital channels—while inside a physical branch or on the move. SBI also wanted to tap the vast unbanked masses of India and drive financial inclusion.
SBI Digi Voucher: a green banking initiative that provides digital alternatives to paper vouchers through a multi-channel solution and as a mobile app. SBI Video Statement: animated and voice-guided customer-level statements complete with analytics and customers spending patterns. SBI Scribe: a solution that converts non-digital data (handwritten text) into digital data (system readable) to drive high-level efficiencies in account opening and KYC. SBI Mingle: a solution that provides access to banking operations from social media.
SHWETA KONDA 18MBA 49 E-FINANCE ON FILM SECTOR E-Finance role in film industry is an aspect of film production that occurs during the development stage prior to pre-production, and is concerned with determining the potential value of a proposed film. In the United States, the value is typically based on a forecast of revenues (generally 10 years for films and 20 years for television shows), beginning with theatrical release, and including DVD sales, and release to cable broadcast television networks both domestic and international and in flight airline licensing.
Traditionally, the finance functions within media companies have supported the business by providing core accounting services such as accounts payable, payroll, credit control management accounting and client accounting.
There has been a significant increase in the demand for commercial accounting skills such as commercial analysts who support the business in terms of developing more sophisticated reporting tools such as WIP (Work in Progress) tracking, assisting with the bid and tender process for new work, and trying to add value internally and externally. And if you work your way to the top, you really do become invaluable to your showbiz clients
PRIVATE SOURCES
Gap/Super Gap Financing
In motion pictures, gap/supergap financing is a form of mezzanine debt financing where the producer wishes to complete their film finance package by procuring a loan that is secured against the film's unsold territories and rights.
Slate financing
A relatively new method of financing, slate financing involves an investment in a specified number of studio films ranging from a mere handful to dozens of pictures, typically by private equity firms and hedge funds. Slate financing's proliferation typifies the complex relationship that has developed between the studios and Wall Street.
The idea for slate financing came from multifilm credit lines" that banks and investment firms created for studios in the late 1990s. There were three main advantages to this strategy: risk mitigation (since funds covered a pool of movies rather than one film), less interference from investors, and freeing up studio equity towards "big-budget franchises" for which they do not have trouble fundraising.
Bridge financing
Bridge finance has increased in prevalence in filmmaking in recent years. Bridge financing is an answer to the common "catch-22" problem of needing funding to get the actors, but not being able to get the funding without actors. Bridge financing, for example, can be used in scenarios where a filmmaker has a promissory note from an investor to finance a film provided the filmmaker can attach an approved actor, however without money to escrow for the actor's payment, the filmmaker is unable to meet the investor's criteria.
In this instance, a short-term lender can provide a bridge loan to secure the actor with the promissory note as collateral; once the actor's payment is escrowed, the equity investment would be triggered, and the bridge loan would be paid back with a small interest.
Crowd funding as an Alternative Financing Model
Crowd funding refers to financing projects by a large number of supporters. It can be described as a subtopic of crowd sourcing, which involves tasks that are outsourced to a large community through an open call. With a rising popularity of online crowd funding more and more films are getting financed directly by the consumers. Crowd funding films gives the consumer a voice in what films are being produced, allow for riskier, more socially relevant, more innovative, les profit-oriented.
FEDERAL BANK SOPHY RODRIGUES 18MBA50
Federal Bank is a private sector scheduled as commercial bank in India, headquartered in Aulva, Kochi.
Electronic clearing services:
Federal Bank offers Electronic clearing Services that will help the customers to make repetitive and periodic payments/ receipts with ease. It is used by the institutions in making bulk payment of amounts towards distribution of dividend, interest, salary, pension etc., or for bulk collection of amounts towards telephone, electricity, ECS helps bulk transfer of money from one bank to other banks accounts. Customers need not keep track of due date for payments.
National Electronic Funds Transfer:
Federal Bank provides NEFT services to make fund transfer easy, secure and convenient. It is a nation-wide payment system facilitating one-to-one funds transfer. It can also be used for a variety of transactions like payment of credit card dues to the card issuing banks, payment of loan EMI etc.
Real Time Gross Settlement:
It helps to transfer funds from one bank to another on a “real time” and on “gross” basis. RTGS is the fastest possible money transfer system through the banking channel in India. Federal Bank is the first Bank in India to offer this facility through 100% of the branches spread across the country.
Billdesk Bill Pay (Visa bill pay):
BillDesk Bill Pay is an extremely simple, convenient and secure way to pay bills. Federal Bank Visa Debit Card can be used to pay electricity,
telephone, cellular, insurance and other bills, make contributions to various charities and other institutions. The payments are made quickly and conveniently and no longer have to track payment due dates. Depending on the card use the customers may be eligible to earn reward points or special discounts.
Telephone Bill Payment through Fed E-Pay:
It avoids standing in queues for bill payment. Federal Bank makes Telephone Bill payments easier by allowing payment through Fed E-Pay services. It makes the process even easier by making the choice to opt for AutoPay. If the balance is insufficient, system will retry payment for specified number of days.
ECollection:
Federal banks E collection facility is an effective tool for dailies, chit, kuri companies, telecom companies, educational institutions, FMCG companies and other agencies for utility services. E Collection is suitable for Exam or Admission fee collection, Insurance premium collection, Variable fund collection, Subscription collection etc., and in E Collection the receipts numbers are generated automatically.
SOUJANYA.K
18MBA51
E-finance provides state of the art Electronic Payment Solutions and Business Integration & Optimization services to the government and financial sectors in a secure environment according to the international security standards.
E-Finance provides electronic mode of doing things. This makes the task easier and faster. E-finance is emerging as fast-growing trend because of its benefits. It is used in almost all the sectors like education, banking, automobiles and many more.
E-Finance in Education sector
Education sector is one of the biggest sectors. It is somewhere everyone is enrolled and a platform where individuals learn everything. Education plays a very important role in everyone’s life. At the same time Finance is a very important branch of study. Whether for a management professional or others.
Finance and financial knowledge is an important aspect of life without which it is difficult to carry on sound financial position of that particular individual. For instance, if we consider particular college there will be number of procedures, books of accounts, ledgers etc. for maintaining finance of the college. It will be huge in number and is very difficult to maintain the same.
Parents have to stand in ques to fill in the form, apply, deposit money etc. There are many such problems in maintaining Finance or accounts of big institutions. With the emergence of E-finance problems got the solution.
The work became much easier, simpler, reliable and faster. Parents who wanted to get their children admitted to the schools or colleges could download the application, fill in the form, submit, pay the fees and get the admission just at one mouse click.
The chance of risks has also reduced because of e-financing as everything happens online. This is the reason why our Prime Minister Mr. Narendra Modi encourages DIGITALISATION, CASH LESS TRANSACTION in the economy. When transactions in Education or any other sector takes place through Electronic medium there will be less or no chance of frauds.
ELECTRONIC CLEARANCE SERVICE (ECS)
SUSHMITHA.V
18MBA54
Electronic clearance service in Indian bank is well established, quick, reliable and economic processing for periodic Bill Payments. LIC is happy to offer this facility to its valued customer totally free for payments of
premiums.
Portal Payment
Online Payment gateway is LIC’s initiative to provide on demand premium collection service within a few clicks. The payment gateway initiative is an important component of the offer. It provides for real time payment of renewal premium-dues through the portal.
Online activities are a simple process with one-time enrolment of the Policies.
Paytm allows you to pay the premiums of your LIC plan anytime and from anywhere. Premium can be paid anytime and anywhere. Most convenient method of payment if the policy holder is out of country. The Eligibility criteria for this scheme is decided by central office, Procedure is same as for agent’s collection. Payment is online using LIC portal.
“Stock holding provides wealth management (service) across all financial products to our clients in the retail segment. As an insurance repository, we were unable to offer insurance products to our clients. With the corporate agency licence, we will be able to promote life and general insurance products very soon,” According to IRDAI, LIC has a 73% share in the life insurance segment.
The LIC is close to signing a Rs 1,100 crore Electronic data management system (EDMS) contract with a consortium-led by Global IT major HP
(Hewlett Packard). HP will lead a Consortium of IT firms, including Mumbai – based Vakrangee Software for three and half year that would entail digitalization of its 20 crore policies. The global IT major would also have to rollout LIC’s Electronic data management system initiative and computerize all its 2048 branches.
Online Payment
Online Payment gateway is LIC’s initiative to provide you with on demand service within a few clicks! You can now have many of the functionalities that were available only at a branch office, online at your fingertips.
The payment gateway (PG) initiative is an important component of the offer. It provides for real-time payment of renewal premium-dues through the portal. This functionality is available only to registered customers who have enrolled their policies.
Public sector life insurance giant LIC is facing tough competition from private players that are using new-age digital financial technologies. According to latest data from insurance regulatory and development authority of India (IRDAI), the financial share of LIC in terms of 1st year premium up to May 31,2019, was 66.08%, down from 67.40% up to May 31st 2018.
SWATI KONDA
18MBA55
Deloitte refers to one or more of Deloitte Touché Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities.
Eight exponential technologies that will redefine the way Finance of the future is going to be conducted. These are: Robotic Process Automation (RPA), Cognitive Computing, In-Memory Computing, Visualization, Block chain, Internet of Things, Advanced Analytics, and Mobility.
Finance organizations are finding it hard to keep to keep pace with the growing requirements of their business. Technology has enabled organizations to receive significant amount of data which need to be optimally utilized for decision making. Information is flooding into business and pushing data volumes through the roof.
Apart from internally generated business data, there is a lot more outside the business which influences decision making. Big data, social media, The Internet of Things, and many more sources which cannot be ignored.
To manage the influx of such large data, organizations will need to develop a robust ecosystem which will enable utilization of this data for effective decision making. Organizations in India are significantly investing in futuristic technologies such as robotics, cognitive, block chain, in-memory computing, visualization, etc., which will potentially come together to define the way Finance is going to function in future.
All these technology solutions helped Finance organizations keep pace with the dynamic business environment of those times and provided relevant information for decision making. Two such exponential technologies that have a wide ranging impact in shaping the future of finance profession are:- a.)Robotics Process Automation (RPA)
RPA is computer-coded software, commonly referred to as BOT, that emulates human actions and is able to drive automation of rule-based processes. It is an ideal automation technique for any process that has heavy dependence on data entry, data manipulation, triggering responses, and communicating with other digital systems. Organizations see this ‘IT- light’ technology as a blessing to dramatically bolster process efficiency levels, accuracy levels, and throughput for transactional processes, without having to navigate IT organization complexities required for other automation interventions.
b.) Cognitive computing
The goal of cognitive computing is to create automated IT systems that simulate human cognitive skills, grinding through mountains of data to automate insights and reporting in real time. Cognitive solutions may be deployed from the cloud and offered as a hosted service or deployed as in- house servers depending on the organizational IT landscape and requirements.
When used in Finance, cognitive technologies working alongside the existing ERP systems and Robotics can upend operational finance and bring about unprecedented speed, agility, and transparency to the processes.
Machine learning in other Finance areas
In other areas tools have been developed which use machine learning technology to scan electronic papers and automatically identify and extract key accounting information from a wide range of documents like contracts, policies, agreements, purchase orders, sales orders, commercial invoices, etc. These artificial tools then improve with every human interaction, which will over time increase their power as they gather more information.
Natural Language Generation (NLG) in Finance
NLG in Finance can be used in generating cumbersome Financial and Statutory and compliance reports which can consume significantly amount of human efforts.
ROLE OF E-FINANCE IN SERVICE SECTOR
TANYA RAKSHA B
18MBA56
Tata Consultancy Services.
TCS finance and accounting services enables companies to minimize manual touch points across their business processes, and thus, shorten the turnaround time (TAT) for key financial transactions. Automation paves the way for increased working capital and higher operational efficiency. We help enterprises simplify and standardize their workflows for better substantiation of balance sheet accounts, leading to effective, transparent business controllership. Our predictive analytics tools foster improved spend and invoice management by empowering organizations to gain real- time, granular visibility into expenses, and generate a comprehensive view of collections. We also deliver accurate and actionable insights on key performance indicators (KPIs) and business trends, for a better customer experience and improved business profitability.
They help the organizations transform the following key financial and accounting sub functions:
Accounts payable: Optimize days payable outstanding (DPO), through ongoing operational enhancements, for improved cash flow; provision analytics tools for spend analysis; generate insights for intelligent sourcing
Accounts receivable: Foster effective working capital management, as well as reduction in the number of days sales outstanding (DSO) and bad debt.
Financial planning and analysis: Improve financial planning through transformation of budgeting, financial reporting, and forecasting processes.
Trust accounting: Improve trust fund management through streamlining and automation of business processes; reduce doubtful debts through provisioning of accurate of data and optimized workflows.
Treasury and billing services: Transform risk, liquidity, and investment, and cash flow management functions; ensure accurate and timely billing; view analysis of unbilled cases to prevent revenue leakage; reduce aged debt.
General ledger services: Benefit from end-to-end support for accounting activities; simplify business processes to improve operational efficiencies and ensure compliance with country- specific regulations.
CFO Risk Services: Improve risk assessment, risk mitigation, and risk reporting process; to identify major risks or highly interpretive accounting issues through detailed financial reviews and alignment to GAAP/ IFRS.
TCS Finance services suite delivers four key benefits: Enhanced CX, improved operational productivity, and efficiency, reduced regulatory and compliance risks, and optimized costs.
With TCS support commercial banks worldwide have realized the following benefits:
Gain greater than 25%improvement in productivity through process reengineering, standardization and automation.
Over 45% TAT improvement for critical trade transactions through imaging and workflow system. More than 20% improvement in cycle time through LC issuance automation.
Over USD 20 million value of transactions fraud and sanction risk averted through rigorous monitoring, training and appropriate controls.
Nil post-production defects for over 2000 global users migrating to new trade platforms.
Over 70% reduction in errors due to revamped trade finance operations.
Up to USD 3 million potential saves in operational costs by leveraging benchmarking, standardization, and automation. By partnering with TCS commercial banks stand to gain from the following differentiators:
Domain expertise: TCS has over 20 years of experience in partnering with global, large and midsized banks. With their trade finance Coe and their sustained banking engagements across 62 countries, they are ideally placed to manage the entire finance life cycle. Bank across the globe have established strong fraud control mechanism by utilizing TCS expertise in industry-wide applications and in structuring complex trade agreements.
IT- BPS synergy: TCS market leadership in providing BPS and IT allows richly talented domain experts, including business analysts and consultants across operations and IT on the same platform, leading to quicker IT- enabled solution delivery, and bringing out the best of technology and business processes.
E- FINANCE IN EQUITY BROKING SERVICES VAISHNAVI 18MBA59 The internet has emerged as a powerful tool for people to manage their money and get financial news. As a result, there has been a boom in online brokerage firms and financial news websites.
E-finance including investing, banking, mortgage lending, and insurance will grow at a dazzling rate in the coming years. It’s a reflection of the spectacular growth of the internet. E-finance will empower both consumers and businesses, enabling them to reduce transaction costs, speedily process documents online, and have instantaneous access to information.
Karvy equity advisors will help you time the market better with their expert guidance and ensure that you make smart decisions. Stock markets are considered unpredictable, but they reflect the mood of the economy.
Over the years, investment in equity is considered to be the best long- term wealth maximization option. The gap between unpredictability and a safety anchor in the market is bridged by the in-depth knowledge of market functioning and changing trends, planning with foresight and choosing one’s option with care.
From the perspective, Karvy’s equity broking and advisory’s services are beyond just a medium for buying and selling stock’s and shares. Instead they provide services which are multi-dimensional and multi- focused in its scope.
They offer online trading on both key platforms-National Stock Exchange and Bombay Stock Exchange. More importantly, they make trading safe to the maximum possible extent by accounting for several risk factors and planning accordingly. Karvy has created a very robust
trading platform that facilitates customers to trade online not only in equities, but also buy fixed deposits, mutual funds, commodities, currencies and also participate in a public issue.
The online platform enables customers to view their portfolio online and also access their various research reports and views on stock. It also provides them with a facility to communicate with Karvy’s research/advisory teams online.
Karvy is assisted by their in-depth research, constant feedback and sound advisory capabilities. Karvy’s highly skilled researched team comprising of technical analysts and fundamental specialist’s-secure result-oriented information on market trends, market analysis and market predictions.
Karvy can boast of the largest-owned network among financial services companies in India. This has ensured that where ever a potential customer is located, it is never too far from a Karvy office. Given the wide network, there are a number of trading terminals that provide retail stock broking facility. Karvy services have increasingly offer customer-oriented convenience which they provide to a spectrum of investors-high net worth or otherwise with equal dedication and competence.
KARUR VYSYA BANK VINITHA.G 18MBA60 Karur Vysya bank originated in the year 1916 and headquartered in Karur, Tamil Nadu. It is a private sector bank providing banking services and financial products to its commercial and retail customers.
ROLE OF E-FINANCE IN KARUR VYSYA BANK
Karur Vysya bank has launched two primary co-branded credit cards in association with State Bank of India, in which these co-branded credit cards can be used globally.
Credit cards
Using this credit cards, the card holder earns reward points on his spend that can be redeemed for exciting gifts 1 cash point on every 100 spent. If the card holder uses his card on daily basis for purchasing groceries then the card holder would get a discount of 2.5% on grocery purchase.
At the end of the month the bank would send a statement to its customer (Credit card holder). It includes the details about the transactions done through the credit card. The statement would also contain outstanding balance due in the credit card.
KVB DLite app.
KVB introduced the smart new KVB DLite app, an easy way to manage the bank account from anywhere and anytime. This app is used for financial and non- financial operations. The customers can transfer their funds using this app and can also make bill payments.
This app provides many other benefits to the customers such as card view for customer accounts, scan and pay option on board, control on debit cards using card control (spend limit, daily limit, safe limit).
Unified Payment Interface (UPI)
Unified Payment Interface is a quick and easy way to send and receive money and make payments using virtual Payment Address (VPA) without entering any additional Bank.
UPI is 24/7 available for operations, the user or the customer can send or receive money instantly using VPA. It gives the customer safe and secured payments.
KVB FASTAG
FASTAG is the brand name given tag enabled with RFID technology facilitating electronic toll collection at toll plaza.
The user has to add money into their FASTAG account. The user has to scan the tag while passing through the plaza, it helps the user to
travel non-stop through dedicated FASTAG lane at toll plaza and the automated scanning of RFID tag deducts toll charges from the linked prepaid account without stopping for the cash transaction. It helps the user to save fuel and time.
REFERENCES
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COMPILED BY
SWATI KONDA
2ND MBA