22-06-2013, 12:37 PM
A Project report on Banking System
Banking System.docx (Size: 2.27 MB / Downloads: 23)
INTRODUCTION
Bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers with capital deficits to customers with capital surpluses.
Banking sectors are considered to be the life blood of the national economy. Without banking services, trading and business activities cannot be carried on smoothly. Banks are the distributors and protectors of liquid capital which is of vital significance to a developing country.
Banking is now an essential part of our economic system. Modern trade and commerce would almost be impossible without the availability of suitable banking services. First of all, banking promotes savings. All manner of people, from the ordinary laborers and workers to the rich land owners and businessmen, can keep their money safely in banks and saving centers.
TYPES OF ACCOUNT
Savings Bank Account
Savings Bank Accounts are meant to promote the habit of saving among the citizens while allowing them to use their funds when required. The main advantage of Savings Bank Account is its high liquidity and safety.
Joint account
This type of account is shared by two or more individuals. Any individual who is a member of the joint account can withdraw from the account and deposit to it. Usually, joint accounts are shared between close relatives or business partners.
Current Account
Current Account is primarily meant for businessmen, firms, companies and public enterprises etc. that have numerous daily banking transactions. Current Accounts are cheque operated accounts meant neither for the purpose of earning interest nor for the purpose of savings but only for convenience of business hence they are non-interest bearing accounts
LIMITATIONS OF EXISTING SYSTEM
In the existing system, the work is done manually, and these tasks take a lot of time and man power, more paper work and higher possibility of errors. If employees increases in the organization, more and more information is needed to be maintain and stored. Along with this, adding, searching or updating the details related to customers takes more time and also it is difficult to find information about any particular transaction. Doing all these tasks manually, the whole process becomes complicated, difficult to understand and retrieval of the information. So, it is not a reliable and efficient approach to do work manually.
GOALS & OBJECTIVES OF SYSTEM
This System is based on Banking. So the Primary Objective of this system is to allow its users to create, update and delete Customer’s bank A/C.
To processes all the Banking transaction likes Depositing and Withdrawing money etc.
To follow necessary Constraints like Balance should not fall less than 1000.
To generates Banking Statements for its Account Holders on their request.
Operational Feasibility
Any project can be beneficial only if it can meet the organizations operating requirements. The operational feasibility is very much important in order to find out whether the system is in work after it is developed & installed. Also it includes the options of the users, their remarks and their involvement in the project. The proposed system is operationally feasible because the organization and its employees need a system, which would maintain their login details and customer’s data with security and the proposed system is guaranteed to do so.
Conclusion and Future Enhancement
In future this system can be connected to internet when the consultancy opens its branch in different geographical locations. At that time, the database security has to be enhanced .
We are trying to provide other services too. Like e-banking , credit and debit cards.