Question and question

  What is money laundering? List down the general guideline on anti-money laundering with regard to KYC .how KYC is help in AML? Money laundering is the procedure of making large amount of money generating by a criminal activities such as drug trafficking terrorism funding and illegally safe tax appear to have come from a legitimate source There are three stage in money laundering ·         Placement ·         Layering ·         Integration Placement : placement is the first stage of money laundering at this stage that money that have come from illegal activity is enter into a legitimate financial system Layering : Stage two of money laundering is the movement of money with the intent to mix it with legitimate funds and hide the dirty money’s illegal origin. Commonly, a money launder will go about layering by transferring funds both domestically and international...

Type of bank customers Individual Joint Hindu families Joint account customer Partnership firm Limited liability companies C lub and associations Individual customer It is an account open by one   person in his/her own and individual capacity. Such type of account are maintain and operate upon only by the single person who has open the account this solo and single person is the customer of the bank . There are many type of individual like educated, illiterate,   insane,   intoxicated , insolvent, minor percent etc they have to be introduced their self by my filling the account opening form and KYC form etc. Joint account customer Joint account is a bank account share between two or more individuals. Joint account are most likely to be used by relatives couples or business partner who have a level of trust with each others Type of accounts open between two persons Either or survivor Jointly Jointly or survivor Former or survivor Joint account open betwe...

  What Issues faced by foreign bank when entering in India?? Capital requirement The minimum capital required for WOS (wholly owner subsidiary) at the time of entry may generally be in line with the capital prescribed for a new private sector bank. Therefore the WOS of foreign bank would be treated at par with the new private sector bank in regards to minimum capital requirement. The WOS shall be required to maintain a minimum capital adequacy ratio of 10% of the risk weightage asset. Licences granting issue   generally RBI has been thrift in granting finance licences. Banking licences in the private sector were last granted in 2003 again in 2014 and most recently in 2019. It is quite difficult for foreign banks to obtain licences due to the complexity in questions. In additional administrative issue licenceing of foreign banks is concerned with the relationship between India and foreign banks country of origin.and RBI want more foreign bank and branchs opened in rur...

  How many Types of banks?? Commercial banks Commercial bank are most important type of bank. Commercial bank essentially   profit making institution. They collect deposit from the public and lend  (देना) money to business firms, traders ,farmers and consumers for the purpose of consumption and investment to make profit. Development Banks It is a specialised financial institutions. It provide medium and long term finance to business units. It does not accept deposit from the public. It is not just a term lending institution it is a multipurpose financing institution. It is essentially a development Orient Bank. It’s primary objective to promote economic development by promoting investment. It provide financial assistant not only to private sector but also to public sector enterprises. To promote economic activity in backward religion of the country. Co- operative Banks Cooperative bank is retail bank and commercial banking organised on a cooperative basis. ...

What is foreign banks or international banks ?? Foreign banks are those bank which belong to foreign countries and have their incorporated head office in foreign countries and branch offices in India and   the share   capital of the foreign banks will be fully contributed by foreign investors it’s called foreign banks What is the role of foreign banks or   international banks in india or Indian economy?? 1. Generation of employment opportunities Foreign bank also helpful in increasing employment in business process outsourcing (BPO) sector. As India is an emerging (उभरता हुआ ) information technology service provider with low cost technology and Availability of English speaking employee, which give acceleration to BPO sector and in result increasing employment generation. 2. Foreign capital flow As the foreign bank operate in different countries and dealing with the multinational corporation thus helpful in bringing foreign capital flow in India as investment d...

  How was banking System reform in India ?? The banking system is the heart of all economic activity of the country and small change in its regulation affect the entire economy History of the banking sector reform The banking System in India can be categorised in two phases 1. Pre Independence phase (1786-1947) 2. post independence phase (1947 – till date) Pre independence phase 👉 Modern banking in India started back to 1786 with the establishment of general Bank of India 👉 Three Presidency bank bank of Bengal, bank of Bombay and Bank of Madras establishment under character of British East India company 👉 In 1935 the presidency Bank merge together and form a new bank name Imperial Bank of India 👉 In 1955 the Imperial Bank of India was nationalized and name the State Bank of India 👉 first Indian owner Allahabad Bank was set up in 1865 in Allahabad 👉  Many more commercial banks such as Punjab National Bank Canara Bank Indian Bank Central Bank of In...