Banking History

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COMPILED BY : - GAUTAM SINGH STUDY MATERIAL – BANKING AWARENESS 0 7830294949 First in Banks- Banking History . o First bank in India- Bank of Hindustan (1770) o First Bank managed by Indians- Oudh Commercial Bank o First Bank with Indian capital- Punjab National Bank (Founder of the Bank is Lala Lajpat Rai) o First Foreign Bank in India – HSBC o First bank to get ISO certificate – Canara Bank o First Indian bank outside India –Bank of India o First Bank to introduce ATM – HSBC (1987, Mumbai) o First Bank to have joint stock public bank (Oldest) – Allahabad Bank o First Universal bank – ICICI (Industrial Credit and Investment Corporation of India) o First bank to introduce saving account – Presidency Bank (1833) o First Bank to introduce Cheque system – Bengal Bank (1833) o First bank to give internet banking facility – ICICI o First bank to sell mutual funds – State Bank of India THANKS FOR READING – VISIT OUR WEBSITE www.educatererindia.com COMPILED BY : - GAUTAM SINGH STUDY MATERIAL – BANKING AWARENESS 0 7830294949 o First bank to issue credit cards - Central Bank of India o First Rural Regional Bank (Grameen Bank) – Prathama Bank (sponsored by Syndicate Bank) o First bank to get ‘in principle’ banking license – IDFC and Bandhan Bank o First Bank to introduce merchant banking in India – Grind lays bank o First bank to introduce block chain technology – ICICI o First bank to introduce voice biometric – Citi Bank o First bank to introduce robot in banking service- HDFC Miscellaneous points: o Largest public sector bank in India – State Bank of India o Largest private sector bank in India – ICICI o Largest foreign bank in India – Standard Chartered Bank o Bank with more branches in India – State Bank of India Present 5 Associates of SBI : o Bank of Travancore o Bank of Patiala o Bank of Bikaner and Jaipur o Bank of Hyderabad o Bank of Mysuru THANKS FOR READING – VISIT OUR WEBSITE www.educatererindia.com .

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BANKING LAW Time : 1:30 Hours Maximum Marks-100 Tc Rd Dgk U Tk;] Bl Á’Uiqflrdk Dks U [Kksysa
Á’uiqfLrdk Øekad Roll No.-------------------- Question Booklet No. Á’uiqfLrdk fljht O.M.R. Serial No. Question Booklet Series A L.L.B (Fifth Semester) Examination, 2021 LLB504 BANKING LAW Time : 1:30 Hours Maximum Marks-100 tc rd dgk u tk;] bl Á’uiqfLrdk dks u [kksysa funsZ’k % & 1. ijh{kkFkhZ vius vuqØekad] fo”k; ,oa Á’uiqfLrdk dh fljht dk fooj.k ;FkkLFkku lgh& lgh Hkjsa] vU;Fkk ewY;akdu esa fdlh Hkh Ádkj dh folaxfr dh n’kk esa mldh ftEesnkjh Lo;a ijh{kkFkhZ dh gksxhA 2. bl Á’uiqfLrdk esa 100 Á’u gSa] ftues ls dsoy 75 Á’uksa ds mRrj ijh{kkfFkZ;ksa }kjk fn;s tkus gSA ÁR;sd Á’u ds pkj oSdfYid mRrj Á’u ds uhps fn;s x;s gSaA bu pkjksa esa ls dsoy ,d gh mRrj lgh gSA ftl mRrj dks vki lgh ;k lcls mfpr le>rs gSa] vius mRrj i=d (O.M.R. ANSWER SHEET) esa mlds v{kj okys o`Rr dks dkys ;k uhys cky IokabV isu ls iwjk Hkj nsaA ;fn fdlh ijh{kkFkhZ }kjk fu/kkZfjr Á’uksa ls vf/kd Á’uksa ds mRrj fn;s tkrs gSa rks mlds }kjk gy fd;s x;s ÁFker% ;Fkk fufnZ”V Á’uksRrjksa dk gh ewY;kadu fd;k tk;sxkA 3. ÁR;sd Á’u ds vad leku gSaA vki ds ftrus mRrj lgh gksaxs] mUgha ds vuqlkj vad Ánku fd;s tk;saxsA 776 4. lHkh mRrj dsoy vksŒ,eŒvkjŒ mRrj i=d (O.M.R.
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Note on Banking
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Unit 1. Evolution of Banking
DNYANSAGAR ARTS AND COMMERCE COLLEGE, BALEWADI, PUNE – 45 Subject – Banking And Finance - I (115 B) Class: FYB.COM (2019 Pattern) Unit 1. Evolution of Banking Introduction Money in the Economy is like blood in the human body”. The flow of money in the economy determines the characteristics of any economy. Robust money and capital markets are essentials for a developed economy. The short term and long term needs of money of individuals and institutions can be efficiently met by financial intermediaries. Pooling of scanty deposits into a large capital base and lending it to the desirable sectors is the core of banking business. In a developing economy like India, the role of banking sector becomes even more critical. In the initial years of economic development, when other sophisticated financial institutions were not present, banks were the only financial intermediaries which helped in bring about the change. The sense of confidence in the ethical functioning of financial intermediaries, in the minds of common man, was brought about by well-regulated commercial banks. The word ‘bank’ is of Germanic origin though some persons trace its origin to the French word ‘Banqui’ and the Italian word ‘Banca’. It referred to a bench for keeping, lending, and exchanging of money or coins in the market place by money lenders and money changers. According to Banking Regulation Act, 1949 of India, “Banking means the accepting for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdrawable by cheque, draft, and an order or otherwise”. A bank is a financial institution which deals with deposits and advances and other related services.
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Date of J:elease for loan This book should be returned on or before the date last mentioned below. An overdue charge of 5 paise will be levied for each day the book .is kept beyond this date . ;188 1 2 Sf? 1921 I [ f -2. OCT 1991 2 9 AUG, '1991 . ~, 'APal\Q9S ~ -5 '·1l.Jlt995 . A.B.P.P. I j ____ -...J. ___ ~ A BANKER'S OFFICE INDIGENOUS BANKING IN INDIA ~~ ~.f.\A...~ .9 • MACMILLAN AND CO., Lnrrnm LONDON • BOMBAY • CALCUTTA • MADRAS MELBOURNE THE MACMILLAN· COMPANY NEW YORK • BOSTON • CmCAGO DALLAS • SAN PllANCISCO THE MACMILLAN COMPANY OF CANADA, LIMITED TORONTO INDIGENOUS BANKING IN INDIA BY L. C. JAIN M.A., LL.B., PH.D. (ECON.) LOND. LScruUJl, IN CORUNCV AND BANKING AT THB UNIVERSITY OF ALLAHABAD WITH AN INTRODUCTION BY DR. GILBERT SLATER, M.A., D.Se. (ECON.) LoND. LATE i>ROFasSOR OF INDIAN BCONOMICS, MADRAS UNIVERSITY MACMILLAN AND CO., LIMITED ST. MARTIN'S STREET, LONDON J9 2 9 COPYRIGHT (Thesis approved for 'he Degree of Doctor of Philosophy (Economics) in the Universitr of London) 41303 PRINTED IN. GREAT BRITAIN TO MY REVERED FATHER BALMUKAND JAIN, ESQ. B.A., C.T., A.C.P. (LoNDON) AN APOLOGY FOR TWO YEARS' ABSENCE FROM HOME PREFACE IN the following pages an attempt is made to describe the present indigenous banking system in India. Literature on the subject is almost non-existent. Such inform~tion as is given in works on the Indian money-market is incomplete, largely repetitive and in other ways unsatisfactory. There is som'etimes confusion of thought and consequent misre presentation of facts.
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These are few chapters extracted randomly from our General Studies Booklets for Civil Services Preliminary Exam. To read all these Booklets, kindly subscribe our course. We will send all these Booklets at your address by Courier/Post. BestCurrentAffairs.com BestCurrentAffairs.com PAGE NO.1 The Indian money market is classified into: the organised sector (comprising private, public and foreign owned commercial banks and cooperative banks, together known as scheduled banks); and the unorganised sector (comprising individual or family owned indigenous bankers or money lenders and non-banking financial companies (NBFCs)). The unorganised sector and microcredit are still preferred over traditional banks in rural and sub- urban areas, especially for non-productive purposes, like ceremonies and short duration loans. Banking in India, in the modern sense, originated in the last decades of the 18th century. Among the first banks were the Bank of Hindostan, which was established in 1770 and liquidated in 1829-32; and the General Bank of India, established in 1786 but failed in 1791. The largest bank, and the oldest still in existence, is the State Bank of India (S.B.I). It originated as the Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks funded by a presidency government; the other two were the Bank of Bombay and the Bank of Madras. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934.
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Banks: Evolution, 1 Types & Functions
BANKS: EVOLUTION, 1 TYPES & FUNCTIONS BANK: DEFINITION The word bank is derived from Latin word ‘bancus’, French word ‘banque’, Italian word ‘banca’, meaning "table"; German word ‘banc’, meaning bench or counter. Benches were used as makeshift desks or exchange counters during the Renaissance by Jewish bankers, who used to make their transactions atop desks covered by green tablecloths. The Indian Banking Regulations Act, 1949 defines the term Banking as the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise. According to the Indian Banking Regulations Act, 1949 a Banking Company means any company which transacts the business of banking. Thus, a company which is engaged in the manufacture of goods or carries on any trade and which accepts deposits of money from the public merely for the purpose of financing its business as such manufacturer or trader shall not be deemed to transact the business of banking. The activities specified in the Act as banking activities are lending, borrowing, accepting and discounting of bills, dealing in foreign currency, deposit lockers, transfer of money etc. The Act prohibits a bank from buying and selling goods and also from holding immovable property. EVOLUTION OF BANKING There was no such word as ‘banking’ before 1640, although the practice of safe-keeping and savings flourished in the temple of Babylon as early as 2000 B.C. The first bank called the ‘Bank of Venice’ was established in Venice, Italy in 1157 to finance the monarch in his wars.
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Structure of Indian Banking System with Diagram
COMPILED BY : - GAUTAM SINGH STUDY MATERIAL – BANKING AWARENESS 0 7830294949 Structure of Indian Banking System with Diagram . Banking System in India or the Indian Banking System can be segregated into three distinct phases: A. Early Phase of Indian Banks, from 1786 to 1969 The first bank, namely Bank of Bombay was established in 1720 in Bombay. Later on, Bank of Hindustan was established in Calcutta in 1770. General Bank of India was established in 1786. Bank of Hindustan THANKS FOR READING – VISIT OUR WEBSITE www.educatererindia.com COMPILED BY : - GAUTAM SINGH STUDY MATERIAL – BANKING AWARENESS 0 7830294949 carried on the business till 1906. First Joint Stock Bank with limited liability established in India in 1881 was Oudh Commercial Bank Ltd. East India Company established the three independently functioning banks, also known by the name of “Three Presidency Banks” - The Bank of Bengal in 1806, The Bank of Bombay in 1840, and Bank of Madras in 1843. These three banks were amalgamated in 1921 and given a new name as Imperial Bank of India. After Independence, in 1955, the Imperial Bank of India was given the name "State Bank of India". It was established under State Bank of India Act, 1955. In the surcharged atmosphere of Swadeshi Movement, a number of private banks with Indian managements had been established by the businessmen from mid of the 19th century onwards, prominent among them being Punjab National Bank Ltd., Bank of India Ltd., Canara Bank Ltd, and Indian Bank Ltd. The first bank with fully Indian management was Punjab National Bank Ltd. established on 19 May 1894, in Lahore (now in Pakistan).
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All India Maha Mock : NPS Trust Officer Exam 2021 Directions (1-7): Read the following passage carefully and answer the questions given below them. Certain words are given in bold to help you locate them while answering some of the questions. India’s ‘water crisis’ took over social media recently. That India’s cities are running out of water, coupled with Chennai’s drinking water woes, made the ‘crisis’ viral, raising questions about the quality of the discourse and choice of water governance strategies in India. If there is a water crisis, what is the nature of the crisis? Where is the crisis prevalent? And how do we deal with it? Usually, a delayed monsoon or a drought, combined with compelling images of parched lands and queues for water in urban areas raise an alarm in the minds of the public. Similarly, episodes of inter- State river water disputes catch public attention. However, this time, it was somewhat different. Videos and news reports claiming that Indian cities are running out of groundwater went viral. These news items could not have gained the traction but for the fact that they relied on a 2018 report of India’s own Niti Aayog, which was titled ‘Composite Water Management Index: A tool for water management.’ Later, thanks to yet another series of tweets by Joanna Slater of The Washington Post, the ‘crisis bogey’ lost some of its sheen. Ms. Slater investigated the “zombie statistics” in the Niti Aayog report, especially the piece of information that said: “21 major cities are expected to run out of groundwater as soon as 2020, affecting [nearly] 100 million people.” Her perseverance led to an eventual conclusion that there was no sure evidence for this assessment.
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Vijaya Bank and Dena Bank Into the Bank of Baroda (Bob) Has Come Into Effect and All Branches of the Former Two Will Function As Branches of Bob
The pain you feel today, will be the strength you feel tomorrow Index • Banking & Economy • Appointments & Resignations • Science & Technology • Obituaries • Person on Visit • Sports • Agreements & MOUs • Days & Events • Extra Highlights Banking and Economy Reliance MF launched Voice-Based Transactions रिलायंस एमएफ ने 鵍वनन-आधारित लेनदेन श셂ु किया Banking and Economy • Reliance Nippon Life Asset Management (RNAM) has joined hands with Google to enable the customers of Reliance Mutual Fund to carry out voice-based financial transactions. • रिलायंस निप्पॉि लाइफ एसेट मैिेजमᴂट (RNAM) िे गूगल के साथ ममलकि रिलायंस 륍यूचुअल फंड के ग्राहकⴂ को ध्वनि- आधारित ववत्तीय लेिदेि कििे की सुववधा प्रदाि की है। Banking and Economy • With this, RNAM became the first company in India, to provide a conversational interface that would help customers regarding funds transactions. • इसके साथ, RNAM संवादात्मक इंटिफेस प्रदाि कििे वाली भाित की ऐसी पहली कंपिी बि गई है, जो ग्राहकⴂ को पैसे के लेिदेि मᴂ मदद किेगी। Banking and Economy Extra Information: Reliance Founded: 08 May 1973 Founder: Dhirubhai Ambani Headquarters: Nariman Point, Mumbai, India Key people: o Mukesh Ambani (Chairman & MD) o Alok Agarwal (CFO) Banking and Economy Reliance Nippon Life Asset Management Limited (RNAM) Executive Director & Chief Executive Officer: Mr. Sundeep Sikka Banking and Economy Google Founded: September 4, 1998; California Founders: Larry Page, Sergey Brin Headquarters: California, U.S. Key people: o Sundar Pichai (CEO) o Ruth Porat (CFO) Parent: Alphabet Inc. (2015–present) Banking and Economy BOB becomes 3rd Largest Bank बिℂ ऑफ बड़ौदा 3 सबसे बडा बिℂ बना Banking and Economy • The amalgamation of Vijaya Bank and Dena Bank into the Bank of Baroda (BoB) has come into effect and all branches of the former two will function as branches of BoB.
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