A PROPOSAL PROJECT ON

A STUDY OF A BANKING AND FINANCE REPORT ON “ BANK VISIT- STATE BANK

OF INDIA”

SUBMITTED TO

SAVITRIBAI PHULE PUNE UNIVERCITY

IN PRACTICAL FULFILMENT OF THE REQUREMENT FOR THE

AWARD OF THE MASTER OF COMMERCE

SUBMITTED BY

MUNDHE NITAL PANDURANG

ROLL NO. 3004

UNDER THE GUIDENCE OF

PROF. JADHAV SIR

THROUGH

DEPARTMENT OF COMMERCE

MAMASAHEB MOHOL COLLEGE KOTHRUD PUNE - 411038

❖ CONTENTS
1. OBJECTIVES OF THE STUDY

2. INDRODUCTION OF THE BANK

3. INFORMATION COLLECTED DURING THE VISIT

a) BANKING FUNCTIONS

b) SERVICES PROVIDED

4 CONCLUSION

5 BIBLOGRAPHY
TITLE- BANK VISIT [ STATE BANK OF INDIA,ATULNAGAR WARJE BRANCH ]

1) ObJective of The Visit :

1. To create awareness on access to financial services, availability of various types of services

and their functioning.
2. Also, to understand their rights and responsibilities as customers of financial services.
3. .To determine the benefits appointed.
4. To find out what types of accounts they provide for businesses and individuals.
5. To learn about cheques, withdrawing, and depositing limits of individual incorporate banks.

2) INTRODUCTION OF THE BANK- :

The roots of the State Bank of India lie in the 19th century when the Bank of Calcutta (later
renamed as Bank of Bengal) was established on June 2, 1806.
The Bank of Bengal was one of three Presidency banks, the other two being Bank of Bombay
and Bank of Madras.

They have the exclusive right to issue paper currency until 1861 when the right was taken over by
the Government of India.
The three Presidency banks amalgamated on January 27,1921 and were named Imperial Bank of
India.
The Imperial Bank of India remained a joint-stock company without Government participation.
All in all, the SBI was formed after the merger of approximately twenty banks.

According to the State Bank of India Act of 1955, the Reserve Bank of India, acquired a
controlling interest in the Imperial Bank of India and the Imperial Bank of India became theState
Bank of India on July 1, 1955.
But the Indian Government acquired the Reserve Bank of India’s stake in SBI in 2008 to remove
any conflict of interest because the RBI is thecountry’s banking regulatory authority.

In 1959, the government passed the State Bank of India (Subsidiary Banks) Act thus making the
eight banks that had belonged to princely statessubsidiaries of SBI. But now all the subsidiaries
have been merged with SBI.

SBI maintains thousands of branches throughout India and offices in dozens of countries
throughout the world.

The bank’s headquarters are in Mumbai. SBI provides a range of banking product through its
network of branches in India and overseas, including products aimed at non-resident Indians.
SBI has a very conservative approach to accounting particularly when it comes to declaration of
its assets. SBI enjoys a monopoly of the government business.

The Reserve Bank of India owns about 60% of the bank’s equity. Acts as agent of Reserve Bank
of Bank
 3) INFORMATION COLLECTED DURING THE VISIT
A) Banking Functions

Central Banking Functions:

SBI acts as an agent of RBI, where there are no branches of RBI to perform the following
functions-
Currency Maintenance– Essentially, the RBI is responsible for the maintenance of currency. But
the offices of RBI are only available in big cities. In places where RBI has no branches, it
maintains its currency through the SBI.

The currency is withdrawn from these branches of SBI whenever required by the RBI. In other
words, it acts as a CurrencyChest on behalf of the RBI.
Government’s Bank– The SBI caters to the needs of the central and state governments.
Firstly, it collects money and makes payments on behalf of the government.

It also collects the charges on behalf of the government like tax collection and other payments
besides granting advances and loans to the government.
Bank bankers by receiving deposits from and give loans to other commercial banks.
Many commercial banks have their accounts with SBI and these banks resort to help toSBI
whenever they face any financial shortage.

The SBI also acts as a clearinghouse for all commercial banks in places where RBI doesnot have
its presence.

General Banking Functions:

Since its inception, the SBI is working to cover all areas, including the rural areas, which have
remained outside the reach of the banking sector for a substantial period so that their living
standard can be uplifted. Besides performing the above-mentioned work, THE SBI just
like any other public-sector bank performs the normal banking operations that are mentioned
below:
• Accepts deposits from the public under current, saving, recurring and fixed deposits.
• Issue and circulate letters of credit.
• Offer remittance facilities like demand draft, telegraphic transfer, etc.
• Accept, draw, discount, sell and buy bills of exchange and other negotiable instruments.
• Merchant-Banking facilities.
• Operates Non-Resident External and foreign currency accounts.
• Promotes exports through export credit.
 B) SERVICES PROVIDED ARE:

1)DEPOSIT ACCOUNT-

a)Savings Account:

• SBI offers various types of savings account with which account holders can earn upto 4%
p.a.interest on their account balance.
• Account can also link it to MOD account to earn higher interest. Types of saving accounts
are:
• SBI Insta savings account:
• The SBI Insta savings account is an instant savings account, which brings the complete
digital banking ecosystem to your mobile.
• You can open a savings account in minutes with the SBI Yono mobile app or from the
Yono online portal in minutes.
• Insta savings account can be opened easily with OTP-based e-KYC using your Aadhaar
card details which are linked to the mobile number and PAN card details.
• The overall balance at the end of the day can go up to Rs. 1,00,000 and the total annual
credit transactions can go up to Rs. 2,00,000. You will need to maintain a minimum
balance as defined for a normal savings bank account(Metro & Urban - Rs. 3000; Semi-
Urban - Rs. 2000; Rural - Rs. 1000).
• You can only have one Insta savings account and no other accounts at any given time.

b)Current Account:
SBI offers various types of current accounts with low maintenance charges to satisfy
customer’s needs and expectations.

SBI current account can be opened with a minimum balance of Rs. 10,000.

There is 3 type of accounts

I. Normal Current Account:

This current account fits entrepreneurs or traders who deal with the small businesses can open
t his current account in SBI along with basic facilities at a nominal cost.
II. Power Gain Current Account:
This current account fits the Premium Businessmen, Professionals, Traders etc. i.e; those who
look to expand and diversify their operations and handle bulk cash transactions.

III. Power Pack Current Account:

This account is more suitable for elite businessmen, top professionals entities, large traders
etc. operating across the country and who deal with large cash transactions and process huge
number of payments & collection transactions.
❖ LOAN:
 1. Home Loan:
SBI home loans have catered to the need of owning a home of over 30 lakh families in India.
SBI loans come with low processing charges, low-interest rates, and no hidden costs.

2. Personal Loan:
SBI offers 4 types of personal loans for tenure ranging from 1 to 5 years.

SBI Personal Loans cater to the financial needs of any account holder at low-interest rates.
Types of personal loanare:

a) SBI QUICK Personal Loan:

b) SBI Kavach Personal Loan:

c) SBI XPress Credit:
d) SBI Pre-approved Personal Loans:

❖ INVESTMENT
1. Fixed Deposit:
SBI offers a wide array of fixed deposit schemes to regular individuals and senior citizens.
SBI FD rates vary from 5.00% to 6.80% for regular individuals and 5.50% to 7.30% for
senior citizens.

2. Recurring Deposit:
SBI offers a recurring deposit with tenure ranging from 12 months to 120 months. Customers
can avail loan/overdraft up to 90% against SBI recurring deposit

❖ PRODUCTS AND SERVICES OFFERD BY SBI

1. Balance enquiry
2. 24/7 Customer care
3. Net banking
4. Mobile banking
5. Debit and Credit card
6. SBI Mutual Fund
7. AEPS/ATM Transactions
8. Social security schemes
conclusion
After spending a day in a corporate bank and observing their work environment, we could say
that it’s the best services an individual could gain. A corporate bank has everything that is
needed for an average citizen. It includes the transfer of money, quick cash, loans, deposits,
cheques, etc. The positive attitude of the employees gave enormous confidence to the clients
to deal with the bank again.

❖ BIBLIOGRAPHY
https://www.facebook.com/StateBankOfIndia

https://www.instagram.com/theofficialsbi

https://www.linkedin.com/company/state-bank-of-india

https://www.twitter.com/TheOfficialSBI