To provide extra skills knowledge to the students in the area of Debt Collections, Don Bosco Tech, Sabbavaram, Andhra Pradesh Centre had organized a virtual guest lecture on ‘Retail Banking and KYC Norms on June 23, 2021. It was held via online mode on Google Meet. The lecturer Mr. Dhanesh Kumar Sah, Assistant Manager in ICICI Bank, Chennai, Tamil Nadu invited as a guest lecturer to enhance the skills of trainees by his experiential words. An Interactive Beginning: The session started with the speaker relating to his experience with ICICI Bank. He had two years of work experience in the banking sector. It was an impactful session, with the students learning about the various aspects of retail banking, as well as the prospects and the means to reach there in the banking sector. It was a great learning experience for students, learning from someone who has made a successful career in banking. Retail Banking: The speaker asked the students what banking is, to which the students gave several answers, including lending money, saving money.
The speaker gave an overview of banking, dividing it into three aspects; Liabilities (Current Accounts, Savings Accounts, and Term Deposits)Assets (Loans)Free Income (Forex, Trade)These are the three classes that are the sources of income for the bank. Then he shared, how retail banking works and its importance in the banking sector. Mr. Dhanesh then elucidated some vital concepts in retail banking and KYC Norms. The objective of KYC guidelines is to prevent banks from being used intentionally or unintentionally by criminal elements for money laundering activities. Also the end of the session he explained the objectives and importance of KYC. At the end, of the session, On behalf of Don Bosco Tech, Sabbavaram Centre, we extended our deep gratitude to Mr. Dhanesh Kumar Sah, who gave a wonderful session to the students. Trainees also gave their feedback on the session and they had cleared their doubts with the expert.