Banking and Insurance for beginners

The banking and finance sector is one of the most significant sectors of the Indian economy. With the rapid advancement of the various products and services offered by banks and the growing need for investment in our country, there is an increasing interest in professionals with specific knowledge and skills. Therefore, students are getting attracted to banking courses at an increasing rate every year.

Banking is an integral part of the modern economy. But the nature and functions of modern banks have evolved over a long period.

A bank is a financial institution that deals with deposits, advances, and other related services. It receives money from those who want to save in the form of deposits, and it lends money to those who need it. A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets.

A bank is a connection between customers that have capital deficits and customers with capital surpluses. Due to their influence within a financial system and an economy, banks are generally highly regulated in most countries. Most banks operate under a technique known as fractional reserve banking, where they hold only a small reserve of the funds deposited and lend out the rest for profit.

Course Description:

In this course, you will learn about the Origin and Evolution of Banking. We will also make you understand the different functions of the Banking Sector.

The Theoretical part will give you an understanding of the Procedure for Opening & Operating a Deposit Account and the lending Principles, Credit Creation, and Balance Sheet of a bank.

All the aspects of Technology wise intervention in the Banking sector and the advantages that everyone has will be deeply discussed and learned in this course curriculum.

What you’ll learn (Course Outcome):

On completion of the course curriculum, you will have a complete understanding of the following:

• Evolution of Banking
• Functions of Bank
• Procedure for opening and operating of deposit account
• Methods of Remittances
• Lending principles, Credit Creation, and Balance Sheet of a bank
• Technology in Banking

What Is Insurance:

Insurance means protection from unexpected sudden financial loss, It is an Intangible (Invisible – a Concept) product, A valid legal contract between two persons. Insurer and Insured.

Origin of Insurance:

Concepts of Insurance have also been found in 3rd century BC Hindu scriptures such as. Dharmasastra, Arthashastra and Manusmriti

In ancient days, Greeks had marine loans. Money was advanced on a ship or cargo to be repaid with considerable interest if the voyage prospers. However, the money would not be repaid at all if the boat were lost, thus making the rate of interest.

Certification in Insurance:

On Completing the basic Certification, you will be provided with a certificate entitled to secure a family post getting through the IRDA examination, you can be affiliated with any of the insurance companies of your choice and earn money.

Types of Insurance:

– Life Insurance
– General Insurance
– Health Insurance
– Bifurcation

Life Insurance:

– ULIP,ENDOWMENT, TERM, MONEY BACK, RETIREMENT / Pension.

General Insurance:

– Motor, Health, Crop, Travel, Marine, Accidental Insurance, Aviation, Fire, Property, & Live Stock, etc.

Health Insurance:

– A health insurance policy extends coverage against medical expenses incurred owing to accidents, illness, or injury.

Why do we need Insurance?

• Compensate Financial Loss
• Tax Benefits
• Savings For future