Paper 5.3 (B): INDIAN BANKING AND INSURANCE SYSTEM Duration: 3 hrs. Marks: 100 Lectures: 65 Objectives: To enable the students to acquire knowledge about basics of banking and insurance Unit 1 – Concept of Bank and Banking: Historical Evolution of Banking: Origin and Development of Banking - Structure of Banking in India Banks and Economic Development of – –Functions Commercial banks (conventional and innovative functions) Central Bank RBI functions – – – – Emerging trends in Banking. Unit II – Types of Customers and Account holders: Procedure and practice in opening and operating the accounts of customers - individuals including minors - joint account holders -Partnership firms - joint stock companies - executors and trustees-clubs and associations Unit III – Introduction to insurance: Purpose and need of insurance, insurance as a social security tool - insurance and economic development - Principles of insurance -various of insurance - life, marine, fire, medical, general insurance - features. Unit IV – Life Insurance - Law relating to life Insurance; General Principles of Life Insurance Contract; Proposal and policy; assignment and nomination; title and claims; General Insurance - Law relating to general insurance; different types of general insurance; general insurance Vs life insurance Insurance business in India. – Unit-V Definition of an Agents regulations; Insurance Fundamentals of Agency Law: intermediaries; Agents' compensation. Procedure for Becoming an Agent: Pre-requisite for obtaining a license; Duration of license; Cancellation of license; Revocation or suspension/termination of agent appointment; Code of conduct; Unfair practices. Functions of the Agent: Proposal form and other forms for grant of cover; Financial and medical
Paper 5.3 (B): INDIAN BANKING AND INSURANCE SYSTEM Duration: 3 hrs. Marks: 100 Lectures: 65 Objectives: To enable the students to acquire knowledge about basics of banking and insurance Unit – 1 Concept of Bank and Banking: Historical Evolution of Banking: Origin and Development of Banking - Structure of Banking in India – Banks and Economic Development –Functions of Commercial banks (conventional and innovative functions) – Central Bank – RBI – functions – Emerging trends in Banking. Unit – II Types of Customers and Account holders: Procedure and practice in opening and operating the accounts of customers - individuals including minors - joint account holders -Partnership firms - joint stock companies - executors and trustees-clubs and associations Unit – III Introduction to insurance: Purpose and need of insurance, insurance as a social security tool - insurance and economic development - Principles of insurance -various of insurance - life, marine, fire, medical, general insurance - features. Unit – IV Life Insurance - Law relating to life Insurance; General Principles of Life Insurance Contract; Proposal and policy; assignment and nomination; title and claims; General Insurance - Law relating to general insurance; different types of general insurance; general insurance Vs life insurance – Insurance business in India. Unit-V Fundamentals of Agency Law: Definition of an Agents regulations; Insurance intermediaries; Agents' compensation. Procedure for Becoming an Agent: Pre-requisite for obtaining a license; Duration of license; Cancellation of license; Revocation or suspension/termination of agent appointment; Code of conduct; Unfair practices. Functions of the Agent: Proposal form and other forms for grant of cover; Financial and medical
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