JAIIB | IE AND IFS | PARA BANKING ACTIVITIES UNDERTAKEN BY A BANK- CASE STUDY

Are you a banking professional seeking early career growth and professional growth? Choosing the JAIIB exam can be a cautious decision for candidates who want to establish their proficiency. JAIIB stands for “Junior Associate of Indian Institute of Bankers” and is a flagship course exam conducted by the IIBF twice a year to enhance the banking and financial knowledge of bankers. 

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In the banking outlook of India, banks have evolved beyond their traditional functions to include a wider range of services known as Para-banking activities. These activities play a major role in the expansion of the banking ecosystem, contributing to the development of the Indian economy and financial system. Learning Sessions presents this article on case study that examines the concept of Para-banking in India, focusing on how it relates to the JAIIB syllabus, especially within the Indian Economy and Indian Financial System module. For the extensive preparation of candidates, get details through our YouTube videos for JAIIB IE & IFS Module wise Syllabus with explanations and tips to help candidates in their preparation journey.

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Para-banking refers to services offered by banks apart from their core banking functions of accepting deposits and lending. These services include activities like insurance, mutual fund distribution, portfolio management services, investment banking, credit cards, and pension schemes. Main features of Para Banking Activities in India are:

1. Insurance Products 
2. Mutual Fund Distribution
3. Credit Cards and Debit Cards
4. Wealth Management
5. Investment Banking
6. Pension Products 
7. Forex Services

Taking everything into account, the union of Para-banking activities within Indian banks has transformed the banking landscape, providing a wider pattern of financial services to customers. As displayed in the JAIIB’s Indian Economy (IE) and Indian Financial System (IFS) module, Para-banking plays a central role in enhancing the financial ecosystem, contributing to financial inclusion, and offering additional revenue streams for banks. However, as banks continue to transform, they must also focus on robust risk management practices and regulatory compliance to ensure the sustainability of their Para-banking activities. Learning Sessions provides additional information about JAIIB IE & IFS CENTRAL BOARD OF RBI by giving examples of real life scenarios.

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