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NEO Banking - A Future Digital Banking, Development Scope, Threat and Challenges

What is Neo Banking? NEO banks are the banks which has no physical branches. NEO Banks are digital only financial institutions that operate exclusively online through websites and mobile apps.  The financial services industry has undergone massive transformations from manual to Core Banking and now digital without any physical branch. the evolution of banking has been marked by innovations aimed at making financial services more accessible, convenient, and efficient.   NEO Banks offers services like below: Account Management: Account Opening, Checking, Savings, and Money Transfers Loan Services: Quick and seamless loan approvals Low Fees: Minimal or no fees due to lower operational costs Tech Features: Budget tools, instant payments, and real-time alerts Why Are Neo Banks becoming popular now? Convenience : 24/7 mobile banking—no waiting in lines. Lower Fees : No hidden charges, free international transfers, and zero maintenance fees. User-Friendly Apps : Seamless, f...
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Quick Refernce Guide for CAIIB-Retail Banking Part 5 of 5


14.   Annual Depreciation
a.   Straight Line Method – Depreciation is allocated uniformly over life of the property and generally adopted for tax calculation

Annual Depreciation D = C-S/n
        Where C – Original Cost
                   S – Salvage Value
                    n- Building Life (in Years)

b.   WDV (Written Down Value) Method – It is assumed that the property will lose value by a constant percentage of its value at the beginning of the year. The amount of depreciation goes on reducing every year because when depreciation is charged at fixed percentage, the capital value of asset decreases by depreciation charged every year.
                WDV = C (1- p)n
Where C – Original Cost
n- Life in years
p – Percentage


Part 1         Part 2       Part 3       Part 4 
Other Important Topics

RetailBanking  - > Valuation of RealProperty

      YP - Year Purchase

      FSI/FAR (Floor Space Index or Floor SpaceArea)
      Sinking Fund
      Depreciation
Retail Banking – > Lender’s AppraisalProcedure
Moratorium
Powerof attorney
EquatedMonthly Installment (EMI)
Check-offFacility
         Loan Repayment through Post Dated Cheques (PDCs)

Mortgage As Security

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