urgent {insurance & banking}(need answer of few Questions)

talent

Q 2 iv) each bank has its own cash management product n one unique way to manage it. so following are of SBI. i have given SBI's purposely becoz its the India's biggest nationalise bank.
A BRIEF INTRODUCTION:

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STATE BANK OF INDIA provides cash management services to Corporate Clients under the brand name SBI-FAST (Funds Available in Shortest Time).

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SBI FAST ensures optimization of collections and payouts while ensuring predictability in the cash flows.

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SBI FAST ensures getting Funds in time, quick transfers, account reconciliation, easy disbursements, controlled processes and customized MIS.

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SBIFAST eliminates the inherent delays of the traditional funds transfer mechanism and enhances liquidity to ensure optimum planning and utilization of funds.

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We also offer File upload facility on our web based portal and can provide complete Host to Host facility for Payments and e- collections.

FEATURES & BENEFITS:

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Centralized Control of cash.

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Interest Cost reduction on borrowings.

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Enhanced Liquidity.

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Interchange of Information between Treasury & Operating units.

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Cash forecasting & scheduling.

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Effective control over disbursements.

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Efficient Financial Management.

SBI F.A.S.T.Cash Management Services Offerings:

1.
COLLECTIONS (Cheques/drafts etc.)

Local Cheques Collection:

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Collection of instruments tendered at various CMP collection centres.Depending on the clearing practices prevailing at the various centres (i.e. Day-‘0’, Day-‘1’, or Day-‘2’), credit is afforded, as mandated, to the clients’ main account at the pooling centre the same day as the proceeds are cleared.

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Convenient collecting locations across the country with Pooling facility at any of our 11500+ branches as per client’s choice, which are physically connected to our central hub at Mumbai.

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Instruments can be deposited at the collection centers either by their dealers/ distributors/representatives or through couriers as per the arrangement.

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Client is not required to open any account at the Centre from which this facility is availed.

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Collection of instruments in High Value Clearing, General / MICR Clearing, drawn on local branch and drawn on other local SBI Branches.

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No correspondent arrangements. Collections are handled exclusively through our own network and hence cost effective.

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SBI is the acknowledged leader in the collection services.

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Centralized Reconciliation Support.

OUTSTATION CHEQUES COLLECTION:

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Outstation Cheques also can be deposited at our CMP Cell branches, presently 751 and growing, and we afford Guaranteed Credit facility with credit available on Day 0 to Day 7.

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Outstation cheques drawn on our own branches are paid the same day at very concessional charges.

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Cash collection

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We also offer the facility of Cash Deposit at our CMP Cell branches on CMP software which facilitates automatic pooling of funds with MIS.

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Cash Pick up facility is also offered at select centres.

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Uncleared funds

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Option of credit against Uncleared Instruments presented in Gen/MICR or High Value clearing. Offered selectively at Bank’s discretion.

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A nominal limit is required to be set up to take care of returns.

BALANCE SWEEP:

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Transfer of day-end-balances in collection accounts maintained at various CMP centres across the country to the pooling account.

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Clients can use the account for crediting local and outstation collections as well as for meeting payments and the residual balance at the end of the day is swept to the main account.

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Debit transfers

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Debit Balances in operating accounts, where drawals are permitted up to a pre-fixed daylight limit, maintained at CMP Centres transferred to the main account at the end of the day.

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The facility dispenses the use of allocated limits and thereby ensures better control, for the client over debits.

CUSTOMISED MIS:

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Daily presentation / Credit / return reports provided to the representative dealer at the local centre.

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Daily location-wise / product-wise presentation / credit / returns reports provided to the Corporate Office through E-mails.

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Customized weekly / fortnightly / monthly consolidated reports in soft-form, compatible with the clients accounting system, through E-Mail / Floppy / CD-ROM as required, for easier and speedier reconciliation.

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Daily Credit forecast reports through E-Mail.

ELECTRONIC COLLECTIONS

DIRECT DEBIT

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For Collection of invoice payment from Dealers, SIP/ Premium etc.

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Payment can be pulled from any account at any of our 11500+ branches.

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Mandate of Account holders required, which is validated by us

RTGS/NEFT RECEIPTS

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Funds received through RTGS/NEFT modes are credited to the Corporate pooling Account on the same day.

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MIS is generated giving Dealer Name, location, Invoice no., product etc. and amount received.

2.
PAYMENTS

A. ELECTRONIC:

i.
Real Time Gross Settlement

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Inter Bank Product - Settlement through RBI.

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Minimum Transaction Amount Rs.1.0 lac.

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Settlement on the day of transaction.

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Competitive market related rates.

ii.
National Electronic Fund Transfer

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Inter Bank Product - Settlement through RBI.

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Used for amount less than Rs.1.0 lac.

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Settlement on the same day or next day.

iii.
National Electronic Clearing Scheme

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Electronic mode of payment at all ECS centers.

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Useful for payment of interest, dividend, salary, pension to a large number of investors/ share holders/ employees/ ex-employees.

iv.
Direct Credit

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For credit to accounts at all SBI branches.

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Same day settlement online & available between CBS branches (Over 11,500+ & growing).

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Can be used for payment for Purchases, Rent, Incentives, Salaries, interest, dividend etc.

B. PAPER PAYOUTS

i.
Drafts

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Meets Bulk Drafts requirement on day ‘0’.

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Issued with Facsimile signatures up to Rs.5.0 lacs.

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Printed with/without forwarding letter also.

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Provision for direct despatch to the beneficiary.

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Despatch information also available.

ii.
Multi City Cheques

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Printed with Client’s facsimile signatures affixed=<Rs.5 lacs.

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Printed with/without customised forwarding letter giving details of invoice/deductions/net amount etc.

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Provision for direct despatch to the beneficiary.

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Maximum amount per cheque Rs.10 lacs.

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Payable at all CBS branches of the Bank.

iii.
Dividend Warrants

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Instruments printed in bulk at CMP in a highly secured way.

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Printed in-house, provide greater security.

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On-line validation of Dividend warrant particulars to avoid frauds.

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Payable at par at all or large number of designated branches

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Full support for Reconciliationand providing Paid/Unpaid data at desired intervals.

iv.
SBIFAST Cheques

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Similar to multi city cheques but would be payable at all district headquarters branches numbering over 650.

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Payable at PAR and would be non transferable.

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Varying validity period of 30/45/60/90/180 days from date of issue.

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Customized MIS with periodicity of daily/weekly/fortnightly/monthly reports.

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Payee name validation possible at the time of payment.

3.
LIQUIDITY MANAGEMENT

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We provide sweep facility from all our branches to identified Account at any of our branches

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Reverse sweep facility also provided for pushing balance and pulling debits from all branches of our Bank

4.
PRICING:

The pricing of the above products is competitive and volume driven and depends on the location, type of facilities and amount of individual instruments.

talent

Q 2 V) Many successful E-purse schemes have been implemented in “close communities" including college campuses, clubs, food malls, shopping complex and massive transportation services. Generally speaking, debit and prepaid cards for small value payments will soon be common when more merchants accept this payment scheme.
The future of smart card in electronic commerce is not just in payment cards, but also loyalty cards, airline tickets and other value-added cards. Customers’ preferences, bonus and other information could be kept in the card. Companies could then obtain their customers’ preferences and shopping histories for planning more customer-oriented marketing strategies. The card could also be personalized to hold the cardholder's profile. In this way, companies could become more competitive in attracting customers.