BM0020- ELECTRONIC BANKING

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ASSIGNMENT

DRIVE	WINTER 2014
PROGRAM	BCOMIS
SUBJECT CODE & NAME	BM0020- ELECTRONIC BANKING
SEMESTER	5
CREDITS	2
MARKS	30

Note: Each Question carries 5 marks.

1. What is ECS? Discuss the main components and benefits of ECS?

Answer : Electronic Clearing Service

ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, insurance premium etc.

2. Explain the hurdles in the way of implementation of Basel II.

Answer : Basel II has turned the spotlight on enterprise-wide reference data management as the key enabler for collating and organizing business data at a granular level and processing the data to derive accurate regulatory capital. Reference data poses stiffer challenges to data management as the data inconsistencies are complex and difficult to resolve as compared to those related to transaction data. As banks try and get their arms around managing reference data, they typically are confronted with problems of

3. Explain the concepts of de-materialization and re-materialization.

Answer : What Is Dematerialization?

Dematerialization in short called as 'demat is the process by which an investor can get physical certificates converted into electronic form maintained in an account with the Depository Participant. The investors can dematerialize only those share certificates that are already registered in their name and belong to the list of securities

4. Discuss the concept of online trading and its advantages.

Answer : The general meaning of Online Trading is trading of the stocks with the aid of internet. Online Trading has successfully brought the stock exchange facilities within the easy reach of the people requiring them. There are a number of trading sites today that facilitate Online Trading. With the introduction of Online Trading, the investors, mainly the new ones, who were not actively involved in the market, are now rushing towards it.

5. Describe the process of funds transfer in a flow chart.

Answer : One of the safest and secure ways to transfer money is by doing a wire transfer. You will need to have a bank account, at the bank where the wire transfer will be done, in order to have the transaction completed. There are other methods of transferring funds but they can prove to be costly. If you are thinking about

6. Explain the concept and advantages of RTGS.

Answer : Real Time Gross Settlement (RTGS) is an electronic form of funds transfer where the transmission takes place on a real time basis.

In India, transfer of funds with RTGS is done for high value transactions, the minimum amount being Rs 2 lakh. The beneficiary account receives the funds transferred, on a real time basis. The main difference between RTGS and National Electronic Funds Transfer (NEFT) is that while transfer via NEFT takes place in batches (with

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