Hi Jai,
Now my concern is I have seen struts and spring framework but they mostly deals in front end.
That�s not entirely true, or at least not about spring. Spring will allow your application to integrate with any other technology, including EJBs, Hibernate, JDO, etc. It also have strong fron-tend support, including
JSP tags and its own application controller, but it is not definitely just a front-end framework. It might also be a very good candidate for your banking framework.
Could anybody help in proceeding with this framework design
I would suggest you two things: first please read this article and see if you need an EJB container.
http://www-106.ibm.com/developerworks/library/ibm-ejb/ If the answer is no (or even your answer is yes) you might like considering to use spring & hibernate. This is a very strong combination and looks like what EJB 3.0 want to become in the near future.
Regards.