Business Services

HARIKUMAR.G
 Types of
services

Business Social Personal

services- services-
services services which
services are
provided
- voluntarily experienced
Refer to for achieving differently by
those certain social different
services goals. E.g customers. E.g
health care
which help
services. entertainment
the services.
business
organisation in
 Types of business services
banking
The banking regulation act, 1949, defines the term
banking as ‘ the acceptance of deposits, for the
purpose of lending or investment of money from
the public, repayable on demand or otherwise and
withdrawable by cheque, draft, order or otherwise’.
it means, the essential elements of banking are:
• Acceptance of deposits
• Deposits should be received from the public.
• Deposits should be repayable on demand or on the
expiry of a term or after a specified period.
• Purpose of deposits should be lending or
 Benefits of e-banking

To the customers
•E-banking provides 24 hrs, 365 days a year service to
the customers of the bank.
•It develops sense of financial discipline by keeping a
record of each and every transaction.
•It provides greater security to the customers
as they can avoid travelling with cash.
•Provides satisfaction to the customers by
offering unlimited access to the bank.
•It helps the customers to make some of the permitted
transactions from house or office or while
travelling even through mobile telephone.
 Insurance
Insurance is a form of contract under which one party
(Insurer or Insurance Company) agrees in return of a
consideration (Insurance premium) to pay an agreed sum of
money to another party (Insured) to make good for a loss,
damage or injury to something of value in which the insured
has financial interest as a result of some uncertain event.
•The party which promises to indemnify the loss is
called insurer (insurance company)
• The person or a property subjected to risk is called insured.
•The agreement for providing an insurance is
called insurance policy.
• The consideration paid for the insurance is called premium.
It can be quarterly, half yearly or yearly.
 Fire Insurance :
It provides safety against loss
from fire. If property of insured gets
damaged due to fire the insured will receive
the value of damaged property as
compensation frominsurance
company. It no such event happens, insured
will not receive anything. For such
service insurance company charges premium
depending upon the amount of loss insured.
Marine Insurance :
Marine insurance provides protection
against loss during sea voyage. The
businessmen can get their goods insured
whereas the ship owner can get his ship
insured by paying the premium fixed by
the insurance company. The fundamental
principlesof marine insuranceare the
same as the general of
principles insurance.
 Comparison b/w life, fire and marine
BASIS insurance .
LIFE INSURANCE FIRE INSURANCE MARINE
INSURANCE

SUBJECT The subject matter of The subject matter is The subject matter
insurance is humanlife. any physical property is a ship, cargo or
MATTER or assets. freight.
ELEMENT It has the element of It has the element of It has only
protection and investment protection and notthe the element
or both. element of investment. of
protection.

INSURABLE This must be present at This must be present It must be present

INTEREST the time of effecting the
policy, but need not
necessarily be present at
the time when claim falls
due.
DURATION Policy usually exceeds a
year and is taken for
longer periods ranging 5 to
30 yrs of whole life.
both at the time of at the time when
effecting policy as well claim fall due orat
as when claim falls the time of loss
due. only.
Usually does not Is for one year or
exceed one period of voyageor
year. mixed.
CONTINGENCY It has an element of It has an elementof It has an elementof
OF RISK certainty. The uncertainty. The uncertainty. The
maturity of policyor insured is to get the insured is to get the
death of the claim only on the claim only on the
insured is sure to happening of an happening of an
happen, therefore event i.e. event i.e. loss at sea.
surety of getting destruction by fire.
claim.

Postal Services
Every business sends to outsiders and receives from
outsiders several letters, market reports, parcel, money
order etc. every day. All these services are provided by
the post and telegraph offices scattered throughout the
country. The postal department performs the following
services.