Introduction to financial_research

May 28th, 2015
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Financial innovation can be defined as the act of creating and then popularising new financial instruments as well as new financial technologies, institutions and markets. It includes institutional, product and process innovation.

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Study on Financial Innovations inDeposit Products with specialreference to 3 major banksBY:Ritesh sharmaRanjeeta kumariSrijit SahaWhat is Financial Innovation?Financial innovation can be defined as theact of creating and then popularising newfinancial instruments as well as newfinancial technologies, institutions andmarkets. It includes institutional, productand process innovation.Institutional innovationrelate to the creation of new types offinancial firm( internet banks and so on).Product innovationrelates to new products such as derivatives,securitised assets, foreign currencymortgages and so on.Process innovationsrelate to new ways of doing financialbusiness including online banking, phonebanking and new ways of implementinginformation technology and so on.INDUSTRIAL DEVELOPMENT BANKOF INDIAINNOVATIVE IDBI BANK DEPOSITSCHEME OFFERS VARIABLE RATE.INNOVATIVE IDBI BANK DEPOSIT SCHEMEOFFERS VARIABLE RATEinterest rate will be pegged to the average yield of the364-day treasury bill of the government.Interest rate for the new product will be reset everyquarter. The minimum amount of deposit will be Rs10,000 and in multiples of Rs 1,000 thereafter. The maximum investment is capped at Rs 1 crore asthis is the definitional threshold for a retail deposit. Further, the floating rate deposit will have a lock-inperiod of one year and it will be accepted in six maturityslabs, ranging from 1 to 10

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