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Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009 (Bill Passed

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Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009 (Bill Passed > Title: Discussion on the motion for consideration of the State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009 (Bill Passed). MR. CHAIRMAN : The House would now take up item no. 16 − State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009. THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA): Sir, I, on behalf of Shir Pranab Mukherjee, beg to move: "That the Bill to repeal the State Bank of Saurashtra Act, 1950 and further to amend the State Bank of India (Subsidiary Banks) Act, 1959, be taken into consideration." Sir, the State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009 was introduced in the Lok Sabha on 4th December, 2009 to repeal the State Bank of Saurashtra Act, 1950 and to make consequential amendments in the State Bank of India (Subsidiary Banks) Act, 1959. All shares of the State Bank of Saurashtra rests in the State Bank of India. In view of the recent developments in the international banking scenario and for the better functioning, the State Bank of India, with the sanction of the Central Government and in consultation with the Reserve Bank of India, entered into negotiations of acquiring business including the assets and liabilities of the State Bank of Saurashtra. Accordingly, the acquisition of the State Bank of Saurashtra Order 2008 was published in the Gazette of India on 13th August, 2008. After the acquisition of the State Bank of Saurashtra by the State Bank of India, the State Bank of Saurashtra ceases to exist and therefore it is necessary to repeal the State Bank of Saurashtra Act, 1950 and to make consequential amendments in the State Bank of India (Subsidiary Banks) Act, 1959. MR. CHAIRMAN :Motion moved: "That the Bill to repeal the State Bank of Saurashtra Act, 1950 and further to amend the State Bank of India (Subsidiary Banks) Act, 1959, be taken into consideration." शीमती सिु मता महाजन (इदौर): सभापित महोदय, आज यह जो सौरा बक रपील का िबल सामने आया ह ै और एक पकार से टेट बक ऑफ इंिडया म उसके मजर क बात उसम आई हई ह,ै धीरे-धीरे ऐसा होना ह ै िक एक के बाद एक छोटी मछिलय को खाने क ब ू इसम कह न कह आती है पहली बात मेरी समझ म नह आ रही है म आिथक बात क िवशेष नह हं लेिकन 1959 म जब थानीय बक को टेट बक ऑफ इंिडया के छत म लाने या सहयोगी बनाने क ि से जब यह अिधिनयम लाग ू िकया गया था, उस समय वातव म जो बात िदमाग म थी िक 1955 म यह बात सामने आई थी िक िनजी बक क उपिथित गामीण ेत म बहत कम है गांव के लोग को या िनजी िकसान को साहकार के चंगलु से मु कराने के िलए गामीण ेत म बक क शाखाओ ं का िवतार आवयक ह ै और चंिू क उस समय राीयकरण नह हआ था लेिकन जहां तक मुझे याद ह,ै इपीरयल बक को जब टेट बक ऑफ इंिडया बनाया गया था, मगर उसके बाद भी कह न कह गामीण और शहरी इन दोन के िवकास का असंतुलन बढ़ता गया और गामीण ेत म या म यह कहंगी िक अपने- अपने पदेश म छोटे छोटे थान पर लोग के िवकास क ि से बक का िजतना िवतार होना चािहए था, वह नह हो पा रहा था एसबीआई भी इसम कह न कह िदख रही थी और तब एक बात सामने आ गई िक इस असंतुलन को कै से दूर कर और इस असंतुलन को दूर करने क ि से यह िवचार िकया गया िक ेतीय पहचान वाली जो ब स ह, अलग-अलग रयासत ने अपने-अपने ेत म जो थािपत क हई बक थी, चाहे बक ऑफ तवै णकोर हो, बक ऑफ इंदौर हो, चाहे टेट बक ऑफ मसै रू हो 16.00 hrs. ऐसे अलग-अलग बक िजनका इंटरट भी थानीय होता था थानीय लोग के वभाव और अिमता से जुड़ा हआ ऐसा एक बक था, जो थानीय िवकास म सहभागी होता था, सहयोगी बनता था य े बक अपने-अपने ेत और पदेश के िवकास म यादा इंट ट लेते थे इसिलए इनका सहयोग िलया जाए 16.0¼ hrs. (Shri Francisco Cosme Sardinha in the Chair) म समझती हं िक जब 1959 म अनुषंगी बक का िबल लाया गया, तो मन म यह बात आई थी िक इन सभी बक को बड़ा दजा िदया जाए और टेट बक से जोड़ा जाएं तािक य े बक अपनी जगह पर अछे तरीके से काम कर म इह छतछाया म लेने क बात कह रही हं, तब िवलय क बात नह थी यह राीय िवकास का एक िकोण था और इस िकोण को लेकर टेट बक ऑफ इंिडया चल रहा था आप इस राीय िवकास के िकोण को आग े बढ़ाते रह और आग े बढ़ाने म सहयोग द यह बात 1959 के अिधिनयम के अतं गत थी इसम िवलय क बात कह भी जरा सी भी नह थी इसम इह अनुषंगी बक बनाया गया था हालांिक अपर हड टेट बक ऑफ इंिडया का ही था इसम कई ऐसे पावधान थे जसै े - चेयरमनै एस ऑिफिशयो रहेगा, टेट बक ऑफ इंिडया जसै े कहेगा, जसै े एडवाइज करेगा वसै े इन बक ने चलना ह,ै आरबीआई सबसे बड़ा रहेगा ऐसा लगता था िक य े बक उसी तरह से काम करग े जसै ा टेट बक चाहेगा वहां तक भी बात ठीक थी लेिकन अगर हम अपने टेट म देख िक इन बक ने, छः-सात बक ने बहत अछे तरीके से काम िकया मेरा अनुभव ह ै और म इसिलए इतने िवतार से बता रही हं यिक इसका अगला भय मेरे यहां का टेट बक ऑफ इंदौर है यह भय बनने वाली है म अतं मन से बोल रही हं िक यह पहचान थी, अपने पदेश क पहचान थी य े बक अपनी संकृ ित क पहचान ह य े बक आपक यानी टेट बक ऑफ इंिडया क छतछाया म काम कर रहे थे और वातव म यह तय था िक िवलय नह करना है यह तय था, म इसिलए बोल रही हं िक यिक 2007 म एक अिधिनयम लाया गया था और यह संसद म पास हआ था भारतीय टेट बक का संशोधन लाया गया था और इसम कई सारी चीज सहयोगी बक को दी गई थी िक अपना अलग चेयरमनै बना सक ग,े पजंू ी बढ़ाने का माग कै से पशत हो सके गा, िनदेशक मंडल को वाया दी जाएगी इसम य े सभी पावधान िकए गए थे म 2007 के संशोधन क तरफ आपका यान आकिषत कर रही हं यिक उस समय भी िवलय क बात िदमाग म नह थी इसम उलटा इन बक को आग े बढ़ाने क बात क गई थी िक अपना चेयरमनै बनाओ, एसऑिफिशयो नह, आपका अपना िनदेशक मंडल रहेगा, अपना कारोबार और बढ़ाओ यह संसद म पारत है म संसद म पारत बात पर जोर दे रही हं यिक आग े यह बात आएगी यहां भी यह बात िदखती ह ै िक य े बक अछे काम कर रहे ह यह वातिवकता भी है हम टेट बक ऑफ इंदौर अपना लगता है म के वल इंदौर क बात नह परू े मय पदेश और छीसगढ़ क बात कह रही हं छीसगढ़ मय पदेश का िहसा था इसिलए यहां के लोग को लगता ह ै िक यह हमारा अपना बक है उसी तरीके से व े उसक तरफ देखते ह, िनवशे करते समय भी, बक म पसै े रखते समय भी, बक से लोन लेते समय भी और बक का लोन रीपे करते समय भी यही एक भाव मन म रहता ह ै िक यह मेरा अपनी बक है उसी के अनुसार यिद आप देखो तो इनसे जो अपेा थी िक गामीण ेत म आप यादा से यादा पजंू ी िनवशे बढ़ाइय े तो यिद आप टेट बक ऑफ इंदौर को देखो तो 2008 म साख जमा का अनुपात 115 परसै ट ह ै यानी अगर उह सौ पय े िमले ह तो उहने 115 िनवशे िकया है दूसरी तरफ टेट बक ऑफ इंिडया ने भी इतना नह िकया ह,ै उसने 80 पितशत िकया है इसके अलावा बाक भी कई सारी चीज आप देख सकते ह िक इसने यादा से यादा िवकास क तरफ ही यान िदया है 2007 म आप एक पकार से यह बात करते हो और मुझे नह मालमू तुंत एक ऐसी कोई विै क बात आ जाती ह ै और उसम यह होता ह ै िक परू े िव म हमारे हाथ म कोई एक बड़ा बक होना चािहए ठीक ह,ै विै क परिथित बदल गई और इसिलए लगता ह ै िक बाहर के बड़े-बड़े उोग आयग ,े उह देने के िलए हमारे पास बड़ी पजंू ी होनी चािहए इसिलए छोटी-छोटी मछिलय को खाकर अपना पेट बढ़ाओ जो कह न कह गामीण ेत को बढ़ावा दे रही ह जो कह न कह अपने-अपने पदेश के िवकास म लगी हई ह जो कह न कह अपने-अपने पदेश का पितिनिधव कर रही ह जो अपेित भी है इसके बाद म पछू ना चाहंगी िक इतना करने के बाद भी यह संभव हो रहा ह,ै यिद देखा जाए तो आज टेट बक ऑफ इंिडया क टि डंग या ह?ै अगर म गलत नह हं तो परू े िव म हमारा नबर 64वां ह बीच म मन े यह भी सुना था िक एक मीिटगं हई थी िक सभी बड़े बक का िवलय करके या हो सकता ह,ै इस बात पर भी सोचा गया था ऐसा सोचने के बाद जो बात सामने आई थी, वह यह थी िक यह होने के बाद भी हम 50व नबर पर आ सकते ह, पहले नबर पर िफर भी नह आ सकते अगर म गलत नह हं तो मेरे पास आकं ड़े ह, मगर आकं ड़े आपके पास भी ह, इसिलए म व े आकं ड़े यहां दे नह रही हं यह देखकर भी जो बड़े-बड़े ब स टड ड चाटड बक या िसटी बक हो, िजससे भी आप तुलना करना चाहोग े तो सब छोटी-बड़ी मछिलय को खाने के बाद भी आपक पिू त नह हो रही है दूसरी बात म यह कहती हं िक यिद पिू त हो भी रही हो तो आिखर हम करना या चाहते ह? यिद आपको बड़ा बनना ही ह ै तो अपने ही तालाब का कु छ खाने के बजाय दूसरे सागर म से कु छ खचकर लाओ, िकसी िवदेशी बक को अपने म िवलीन करो, वहां क छोटी-छोटी बक का िवलीनीकरण करने के प ताव लाओ और िफर बड़े बनो तो बात समझ म आती है लेिकन वातव म मेरे यह बात गले नह उतर रही ह ै िक हम ऐसा य कर रहे ह? इसम एक बात यह हो गई, िजसका मुझे दुख हो रहा ह,ै हमने बीच म एक ऐसा टेटमै ट पढ़ा िक अब इसके आग े नह करग े यानी हम लोग को तो खा िलया, टेट बक ऑफ इंदौर का शायद प ताव कर िलया और वह प ताव भी आप आड़े राते से कर रहे हो, चोरी-िछपे कर रहे हो और िफर सदन म ला रहे हो जसै े बक ऑफ सौरा का आपने िकया मुझे नह मालमू िक इससे कमचारय का थोड़ा बहत फायदा हो भी सकता ह,ै मगर म अभी इसिलए आत नह हं, िक एसबीआई म िवलीनीकरण के बाद इनक जो सीिनयरटी बनेगी, वह सीिनयरटी िकस पकार से बनेगी, म इस बारे म आत नह हं बक ऑफ सौरा क भी मन े जो थोड़ी बात देखी ह,ै व े तीन-तीन वष िपछड़ ही रहे ह, लेिकन समान प से एक साथ खड़े नह हो पा रहे ह इस तरह से कह न कह कमचारय का कोई बहत बड़ा फायदा इससे नह होगा वसै े भी आपक ि कमचारय के फायदे पर नह है आज क तारीख म आप कमचारय का कोई फायदा नह देख रहे हो, ना आप िहंदुतान के उस गांव के गरीब और िकसान का फायदा देख रहे हो िक उह हम कु छ यादा दे सक , इसके िलए हम अपनी पजंू ी बढ़ा रहे ह, तािक िकसान को हम यादा कजा दे सक , गांव के छोटे उोग को हम यादा कजा दे सक , इसके िलए हम बड़े बन रहे ह तो भी बात समझ म आ जाती वह उेय अनुषंिगक बक बनाने के समय था िकसी को खाने के समय यह उेय नह है आज आप अपना उेय यह बता रहे हो िक हम िव म बड़े बनगे अगर िव म बड़ा नह बन रहे ह तो यह सब कवायद य कर रहे ह, यह मेरी समझ से परे क बात है यह य कर रहे ह, इससे कौन सी आप क जोिखम मता बढ़ रही ह,ै कौन सी लाभपदता बढ़ रही ह ै यिक मंती महोदय ने विै क क बात कही थी? िव को िदखाने के िलय े यहां के लोग को पहले खाया जाये और छोटे बक क जो पासंिगकता ह,ै वह समा करते जा रहे ह हमारी अपनी एक पहचान थी म टेट बक ऑफ इंदौर क बात कहना चाहती हं वहां के महाराजा ने उस बक को खड़ा िकया इससे लोग को लगा िक यह हमारा अपना बक ह ै और जो मनै ेजर बठै ा हआ ह,ै वह अपना आदमी ह,ै हमारे िवकास क बात करेगा और गांव-गांव म बांचेज़ खलु गी हम न के वल मय पदेश के िलय े कह सकते ह बिक छतीसगढ़ के लोग भी उस बक को अपना मानते थे यिक व े सोचते थे िक यह बक उनके िवकास के िलय े काम कर रहा है अब यह अपनव का भाव समा हो जायगे ा जो कमचारय क भावना होगी, िवलीनीकरण के बाद उनके टसं फर हो जायग े बक क पौिलसी ह ै िक हर तीन साल के बाद टसं फर होना है हर आदमी अपना िबतर बांधकर तयै ार बठै ा ह ै िक न जाने कहां जाना पड़ेगा? गजु रात के
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    State Bank of India State Bank of India Type Public Traded as NSE: SBIN BSE: 500112 LSE: SBID BSE SENSEX Constituent Industry Banking, financial services Founded 1 July 1955 Headquarters Mumbai, Maharashtra, India Area served Worldwide Key people Pratip Chaudhuri (Chairman) Products Credit cards, consumer banking, corporate banking,finance and insurance,investment banking, mortgage loans, private banking, wealth management Revenue US$ 36.950 billion (2011) Profit US$ 3.202 billion (2011) Total assets US$ 359.237 billion (2011 Total equity US$ 20.854 billion (2011) Owner(s) Government of India Employees 292,215 (2012)[1] Website www.sbi.co.in State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2012, it had assets of US$501 billion and 15,003 branches, including 157 foreign offices, making it the largest banking and financial services company in India by assets.[2] The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two presidency banks—Bank of Calcutta and Bank of Bombay—to form the Imperial Bank of India, which in turn became the State Bank of India. Government of Indianationalised the Imperial Bank of India in 1955, with Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India.
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  • List of Indian Public Sector Banks :- (Click to Visit the Website of the Bank)
    List of Banks in India - 2014 Directory of Public Sector / Private Sector / Foreign Banks List of Indian Public Sector Banks :- (Click to visit the website of the Bank) Nationalized Banks, State Bank Group Banks have been included here as PS Banks : Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Limited Indian Bank Indian Overseas Bank IDBI Bank Industrial Development Bank of India Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank State Bank of Bikaner and Jaipur State Bank of Hyderabad State Bank of India State Bank of Mysore State Bank of Patiala State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank Of India Vijaya Bank (a) The following two State Bank Group Banks have since been merged with SBI) State Bank of Indore (since merged with SBI) State Bank of Saurashtra (since merged with SBI) ( b) New Bank of India (a nationalised bank) was merged with Punjab National Bank in 1993 List of Private Sector Banks in India Ads by Google Axis Bank Catholic Syrian Bank Ltd. IndusInd Bank Limited ICICI Bank ING Vysya Bank Kotak Mahindra Bank Limited Karnataka Bank Karur Vysya Bank Limited. Tamilnad Mercantile Bank Ltd. The Dhanalakshmi Bank Limited. The Federal Bank Ltd. The HDFC Bank Ltd. The Jammu & Kashmir Bank Ltd. The Nainital Bank Ltd. The Lakshmi Vilas Bank Ltd Yes Bank copied from www,allbankingsolutions.com List of Private Sector Banks Since Merged with other banks The Nedungadi Bank (merged with
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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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  • (Subsidiary Banks) Act, 1959
    THE STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959 THE SUBSIDIARY BANKS GENERAL REGULATIONS, 1959 & THE STATE BANK OF HYDERABAD ACT, 1956 STATE BANK OF INDIA LAW DEPARTMENT CORPORATE CENTRE MUMBAI [As amended up to 27th June 2014] 1 © SBI, Law Department, Corporate Centre, Mumbai. (2014) [email protected] 2 THE STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959 ………………………. 9 THE SUBSIDIARY BANKS GENERAL REGULATIONS, 1959 ……………..……………… 61 THE STATE BANK OF HYDERABAD ACT, 1956 ……………………………………..………. 83 Contents The State Bank of India (Subsidiary Banks) Act, 1959 .......................................................... 10 CHAPTER I ................................................................................................................................................. 10 PRELIMINARY ............................................................................................................................................... 10 1 Short title ..................................................................................................................................................... 10 2 Definitions ................................................................................................................................................... 10 CHAPTER II ................................................................................................................................................ 12 [CONSTITUTION OF NEW BANKS AND CHANGES OF NAME OF ANY SUBSIDIARY BANK] ............................................................................................................................................................................
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  • State Bank of India Companyname
    VISIT NOTE STATE BANK OF INDIA J uggernaut geared for the next cycle India Equity Research| Banking and Financial Services COMPANYNAME We met State Bank of India’s (SBI) top management team to assess the EDELWEISS 4D RATINGS bank’s business strategy and growth & asset quality outlook. Key Absolute Rating BUY takeaways: a) focus is on consistently delivering on earnings and Rating Relative to Sector Performer improving visibility while building on business momentum (10% loan Risk Rating Relative to Sector Low growth target); b) incremental stress is on expected lines with SBI Sector Relative to Market Overweight maintaining slippages & credit cost guidance of 2%; c) performance of subsidiaries has been impressive and potent value unlocking is imminent; MARKET DATA (R: SBI.BO, B: SBIN IN) and d) while consolidation of PSU banks is a pragmatic move, CMP : INR 265 management assuaged concerns of SBI being coerced into it. We believe, Target Price : INR 338 SBI is better positioned among peers—CET-1 at 9.8%, NNPLs at <5.3% and 52-week range (INR) : 352 / 232 CASA at ~45%. Maintain ‘BUY’ with TP of INR338. Share in issue (mn) : 8,924.6 M cap (INR bn/USD mn) : 2,365 / 32,620 Recent events largely one-off with restricted impact on SBI Avg. Daily Vol.BSE/NSE(‘000) : 24,517.5 Management perceives recent events as an off shoot of global factors; however, underlying macros of Indian economy continues on a strong footing. SBI has 6% stake SHARE HOLDING PATTERN (%) in IL&FS and debt exposure is at SPV level.
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  • Impact of Mergers & Acquisitions on Selected Banks
    Conference Proceeding Published in International Journal of Trend in Research and Development (IJTRD), ISSN: 2394-9333, www.ijtrd.com Impact of Mergers & Acquisitions on Selected Banks Jyothi.L Asst. Professor, Kairalee Nikethan Golden Jubilee Degree College, Indiranagar, Bangalore, India Abstract: Banking sector plays very important role in every iii. To analysis the impact of Mergers & economy & is one of the fastest growing sectors in India. The Acquisitions on Selected Banks. competition is extreme & regardless of the challenge from the B. Research Tools global banks, domestic banks- both public & private sector. There are many indications that weak banks will merge will i. Secondary Data: Bank of Baroda’s, Vijaya Bank strong banks. Mergers & Acquisitions encourage banks to & Dena Bank past 5 financial year data gain global reach, better synergy, compete with global banks & collected, Debt Equity Ratio, Current Ratio, allow banks to acquire the Non-performing assets of weaker Asset Turnover Ratio, Net Profit Margin Ratio, banks. Through Mergers & Acquisitions, banks will get brand Net Operating Profit per share ratio, Non- names, new geographies, and correspondent product offerings performing assets. but also opportunities to cross sell to new accounts acquired by the other banks. The main objective of this paper is to assess C. Scope of the study the impact of merger & acquisition on the performance of i. The study is restricted to the impact of Bank of bank. This study is based on the secondary data collected from Baroda, Vijaya bank & Dena Bank. Magazines, Newspaper, journals etc. ii. The study is based on last four financial year data Keywords: Merger, Acquisitions, Banking sector, Growth of BOB, Vijaya Bank & Dena Bank.
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  • The State Bank of Saurashtra (Repeal) and the State Bank of India (Subsidiary Banks) Amendment Bill, 2009
    1 AS INTRODUCED IN LOK SABHA Bill No. 113 of 2009 THE STATE BANK OF SAURASHTRA (REPEAL) AND THE STATE BANK OF INDIA (SUBSIDIARY BANKS) AMENDMENT BILL, 2009 A BILL to repeal the State Bank of Saurashtra Act, 1950 and further to amend the State Bank of India (Subsidiary Banks) Act, 1959. BE it enacted by Parliament in the Sixtieth Year of the Republic of India as follows:— CHAPTER I PRELIMINARY 1. (1) This Act may be called the State Bank of Saurashtra (Repeal) and the State Bank Short title and 5 of India (Subsidiary Banks) Amendment Act, 2009. commence- ment. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. CHAPTER II . REPEAL OF THE STATE BANK OF SAURASHTRA A CT, 1950 10 2. (1) The State Bank of Saurashtra Act, 1950 is hereby repealed. Repeal and savings. (2) Notwithstanding such repeal, anything done or any action taken, including any agreement entered into under the provisions of the State Bank of Saurashtra Act, 1950, by the State Bank of Saurashtra shall continue to be in force and have effect as if this Act has not been enacted. 15 (3) The mention of particulars in sub-section (2) shall not be held to prejudice or affect 10 of 1897. the general application of section 6 of the General Clauses Act, 1897, with regard to the effect of repeal. 2 CHAPTER III AMENDMENTS TO THE STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959 Amendment 3. In section 2 of the State Bank of India (Subsidiary Banks) Act, 1959 (hereafter in this 38 of 1959.
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  • SBI Infrastructure Fund Series 1.Pdf
    Asset Management Company : Mutual Fund : SBI Funds Management Pvt. Ltd. (A Joint Venture between State Bank of India & Société Générale Asset Management) Key Information Memorandum and Application Form Continuous Offer of units at NAV based prices This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to know before investing. For further details of the scheme/Mutual Fund, due diligence certificate by the AMC, Key Personnel, investors’ rights & services, risk factors, penalties & pending litigations etc. investors should, before investment, refer to the Scheme Information Document and Statement of Additional Information available free of cost at any of the Investor Service Centres or distributors or from the website www.sbimf.com . The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations 1996, as amended till date, and filed with Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of this KIM. Asset Management Company : Sponsor : State Bank of India SBI Funds Management Pvt. Ltd., 191, Maker Towers ’E’, Cuffe Parade, Mumbai - 400 005 Visit us at www.sbimf.com Type of Scheme An Open-ended Growth Scheme Investment Objective To provide investors with opportunities for long-term growth in capital through an active management of investments in a diversified basket of equity stocks of companies directly or indirectly involved in the infrastructure growth in the Indian economy and in debt & money market instruments. Asset allocation pattern of Types of Instruments Normal Allocation Risk Profile the scheme (% of Net Assets) Equity and equity related instruments including 65% - 100% High derivatives^ Debt and Money Market instruments* 0% - 35% Medium to Low Maximum limit for stock lending - Not more than 20% of the net assets of the scheme.
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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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  • Key Information Memorandum Offer of Units of Rs. 10 Per Unit for Cash During the New Fund Offer Period and At
    Asset Management Company : Mutual Fund : SBI Funds Management Pvt. Ltd. (A Joint Venture between State Bank of India & Société Générale Asset Management) KEY INFORMATION MEMORANDUM (An Open-ended Income Scheme) (erstwhile known as Magnum NRI - Long Term Bond Plan) OFFER OF UNITS OF RS. 10 PER UNIT FOR CASH DURING THE NEW FUND OFFER PERIOD AND AT NAV BASED PRICES ON ONGOING BASIS Sponsor : State Bank of India Asset Management Company : SBI Funds Management Pvt. Ltd., 191, Maker Towers ’E’, Cuffe Parade, Mumbai - 400 005 Visit us at www.sbimf.com This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to know before investing. For further details of the scheme/Mutual Fund, due diligence certificate by the AMC, Key Personnel, investors’ rights & services, risk factors, penalties & pending litigations etc. investors should, before investment, refer to the Scheme Information Document and Statement of Additional Information available free of cost at any of the Investor Service Centres or distributors or from the website www.sbimf.com . The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations 1996, as amended till date, and filed with Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of this KIM. - Name of the scheme SBI Dynamic Bond Fund (Name of the Magnum NRI - Long Term Bond Plan has been changed to SBI Dynamic Bond Fund w.e.f. from November 23, 2009.) Type of Scheme An open ended income scheme Investment Objective The investment objective will be to actively manage a portfolio of good quality debt as well as Money Market Instruments so as to provide reasonable returns and liquidity to the Unit holders.
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  • Download a Mobile Wallet App on Our Phone NFC Contactless Payments
    1 ACKNOWLEDGMENT The incredible activity of Team All India Legal Forum is to give a stage to the scholars from all through the country to get their unique work distributed in type of diaries is outstanding. This volume has been capably arranged by the group and has advanced vital and most most important aspects comes under Banking Law in India, Evolution of Banking Law, Structure of RBI, DRAT, Lok Adalats under legal services authority act, Securitization, Dishonour of cheques, Banking Regulation Act Amendment Bill 2020 and many more. At the very end of our publication it inludes the Multiple Choice Questions to quickly learn and revise along with some fun corners to not to get bored. We praise all the understudy benefactors for their superb piece of work and our all the best for all your future undertakings. We guarantee all the perusers that this will add a ton to the information subsequent to perusing this ideal assemblage of examination on the most recent consuming of the country. Truth be told its for the lawful clique as well as for any individual who has an interest in field of law and to know Banking System in India. With Best Wishes Ms Mahimashree Kaur ALL INDIA LEGAL FORUM 2 FOREWORD More has been aforesaid regarding the writing of lawyers and judges than of the other cluster, except, of course, poets and novelists. The distinction is that whereas the latter has sometimes been loved for their writing, the general public has nearly always damned lawyers and judges for theirs. If this state of affairs has modified in recent times, it's solely therein several lawyers and judges have currently joined the rest of the globe is repining regarding the standard of legal prose.
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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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