Safe deposit locker facility is a service offered by banks to provide customers with a secure and convenient way to store valuables such as jewelry, important documents, and other possessions. These lockers are typically located within the bank's premises and require customers to have a key or access code to open them. The contents of the locker are only accessible to the customer or authorized individuals, ensuring that they remain safe and protected from theft or damage.
One of the main advantages of using a safe deposit locker facility is the high level of security it provides. Banks have strict security measures in place to protect the contents of the lockers, including surveillance cameras, alarms, and secure access control systems. This gives customers peace of mind knowing that their valuables are safe and secure, even when they are not in their possession. In addition, banks also have insurance policies in place to cover the contents of the lockers in case of any unforeseen events such as theft or natural disasters.
Furthermore, safe deposit locker facilities are also a convenient way for customers to store their valuables without having to worry about them taking up space in their homes. Customers can access their lockers at any time during the bank's operating hours, making it easy to retrieve or store items as needed. This is especially useful for individuals who travel frequently or do not have a safe place to store their valuables at home. Overall, safe deposit locker facilities offer a secure and convenient solution for customers to protect their valuables and have peace of mind knowing that they are safe and accessible when needed.
Safe is mainly used to secure all valuable objects in your home.
Below mentioned is the various type of high security safe.
The manual safe locks are supplied with two keys and not be easy to use.
It is durable with high quality and useful for those who did not remember the numeric pass codes.
Key locks are commonly used for home safes or small businesses with limited people access, so you need not worry about someone misplacing the key.
Electronic safe locks The electronic safe locks are offering different features.
Introduction MBA In Banking Management: Concept of Banking“Banking can be explained as the business process of accepting and safeguarding money owned by other individuals this money to earn again.”Functions of Banks: Primary Functions Secondary Functions Primary functions are of two types: Accepting Deposits Granting loans and advances Accepting deposits are of four types:Saving DepositFixed DepositCurrent DepositRecurring Deposit2.Granting Loans and Advances are of four types:Cash CreditBank OverdraftLoansDiscounting Bills Secondary Functions: Agency Functions Utility Functions Agency Functions are of 5 types:Funds TransferCheque collectionPeriodic payment/collectionPortfolio ManagementOther functions Utility Functions: Issue of Drafts, Letter of CreditLocker facilityUnderwriting of sharingDealing with Foreign ExchangeProject reportsSocial welfare programTypes of Accounts: Savings Bank AccountThe main goal is to promote savings.No limitations on the number and amount of deposits.Withdrawals are subject to certain limitations.No loan advantage is provided against saving accounts.Neither frills accounts.2.Current AccountMost liquid and no restrictions on the number of transactions.Punishment is charged if minimum balance is not maintained.Commonly banks do not pay any interest in current accounts.Bank charging a payment for a current account current is most suitable for a businessman.
3.Fixed Deposit Account:The amount can be paid only once.Premature withdrawal is permitted in some banks without penalty other banks charge a minimum rate of interest as a penalty.
Consumers can avail loans against Fixed deposits up to 80 to 90 percent of the value of deposits.
Bank management is distinguished by the particular object of management - financial connections connected with banking occupation and other relations, also connected with the implementation of management functions in banking.
Bank management also discusses the application of management functions in the banking sector.
Significance of Banking Management in MBA: Changing Regulation of Banks: at the finish of the 3rd decade of the 20th century, thousands of banks across the world failed due to the economic recession known as the Great depression.
When you think about protecting your valuable assets, you think of the safest place to keep them.
Generally in a rectangular shape, low-cost deposit locker is available in various forms to suit different purposes.
They are kept in schools, parks, gymnasiums, colleges, hospitals, banks, houses, libraries, etc.
The locking system can vary from key locking to a padlocking system.
In key locking, a flush lock, cam hole, or rotating handle lock are used while padlocking has a shape and staple.
They have excellent resistance to impact and mechanical stress.
When you open a Deposit Bank, of course, to pay attention to the interest rate, but not only.
The more frequent the capitalization, the better, because every month you will earn interest, which can be displayed or further, take your seats.
The most popular in our country are Bank deposits on the standard you need:
monthly, quarterly, semi-annual and annual.
the function of the gold market or real estate).
If you can't freeze your money for a year or more, then for such clients, banks offer deposits for shorter periods of time, even for one day.
