Banking and Insurance Notes are essential sectors within the financial services industry that provide crucial services to individuals, businesses and governments. Banking involves managing deposits, loans, payments and other financial transactions, supporting economic growth by facilitating liquidity and credit.
“Banking and Insurance Notes“ Insurance, on the other hand, offers protection against financial risks through various policies, such as life, health, property and casualty insurance. It also provides valuable insights into resource utilization and cost-saving All notes provided by Study Hub Zone
Banking and Insurance Notes: ALL UNITS
Unit 1: Introduction to Banking
Introduction to Banking provides a fundamental understanding of the banking system, its functions and its role in the economy.
Unit 2: Financial Products and Services
Financial Products and Services refer to the various offerings provided by financial institutions to meet the needs of individuals, businesses and organizations.
Unit 3: Introduction to Insurance
Introduction to Insurance provides an overview of the concept of insurance as a financial arrangement that offers protection against potential risks and financial losses.
Unit 4: Life Insurance
Life Insurance is a type of insurance policy that provides financial protection to beneficiaries in the event of the policyholder’s death.
Unit 5: General Insurance and Risk Management
General Insurance and Risk Management refers to insurance policies that cover a wide range of risks not related to life, such as property damage, liability, health or accidents.
Syllabus: Banking and Insurance
UNIT – 1
(a) Introduction to Banking:
Definition, functions, and types of banks
Structure of the Indian banking system – scheduled vs. non-scheduled banks, public sector, private sector, cooperative banks
(b) Role of Banks in Economic Development:
Credit creation process
Functions of commercial banks in modern economy
Financial inclusion and priority sector lending
(c) Reserve Bank of India (RBI):
Functions, role in monetary policy, and regulation of banking sector
UNIT – 2
Banking Operations and Services:
Types of bank accounts – savings, current, recurring, fixed deposits
Cheque – features, types, and crossing
Electronic banking – NEFT, RTGS, IMPS, UPI
ATM, credit and debit cards, mobile banking, internet banking
KYC and Anti-Money Laundering Norms
Customer identification procedures and compliance obligations
UNIT – 3
Introduction to Insurance:
Meaning, nature, and functions of insurance
Principles of insurance – utmost good faith, insurable interest, indemnity, subrogation, contribution, proximate cause
Types of risks and risk management
UNIT – 4
Types of Insurance:
(a) Life Insurance – features, types (whole life, term, endowment, ULIPs), policy conditions
(b) General Insurance – fire, marine, motor, health, property, liability insurance
Insurance Policy Documents:
Proposal forms, premium receipts, policy bonds, endorsements
UNIT – 5
Regulatory Framework and Emerging Trends:
Regulatory Authorities:
Reserve Bank of India (RBI) – for banking
Insurance Regulatory and Development Authority of India (IRDAI) – for insurance
Basic provisions of the Banking Regulation Act and Insurance Act
Recent Developments:
Digital banking, insurtech, bancassurance, cyber insurance
Microfinance and microinsurance
FinTech innovations and their impact on banking and insurance sectors