DOCSLIB.ORG

Note on Banking

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Note on Banking NOTE ON BANKING Bank – Definition Loans are of two types A bank is a financial institution which accepts money from the 1. Demand Loans: people in the form of ‘Deposits’ and gives advances to them in Eg: Gold Loans, Crop loans. the form of “Loans”. Loans Deposits are of two types 2. Term Loans: Eg: Housing loan / Personal Loan. 1. Demand Deposits Y Demand Loans are usually repayable in 12 to 18 Eg: Current Account / Savings Account. months. Deposits Y Term Loans are repayable in instalments. The 2. Term/Time Deposits repayment may extend to over twenty years, in Eg: Fixed Deposits / Recurring Deposits. some cases. Current Account: History of Banking Development in India Y Generally maintained by businesspersons / large The Banking Regulation Act, 1949 defines the term Banking institutions / companies. as “accepting, deposits for the purpose of lending or investment, Y No interest is paid for balances in the account. and withdrawable by cheque, draft, order or otherwise”. Y There are no restrictions on the number 1. The first bank in India was called the Bank of Hindustan transactions. and was established in 1770 by Alexander and Co, at Y Overdraft (OD) can be extended in this account, Calcutta, under European Management. at the discretion of the bank. 2. Presidency Banks were established by the British: Bank Savings Account: of Bengal in 1806, followed by Bank of Bombay in 1840, Y Generally maintained by individuals. and Bank of Madras in 1843. Y Nominal rate of interest will be paid on the 3. The first bank with limited liability, managed by Indians, balances in this account. was Oudh Commercial Bank founded in 1881. Y There are restrictions on the number of withdrawals. Subsequently, Punjab National Bank was established in Fixed Deposits: 1894. Allahabad Bank was established in 1865. Y A lumpsum amount will be deposited in this account. 4. In 1921, all Presidency Banks were merged and renamed Y The depositor cannot withdraw the amount before as the Imperial Bank of India. the due date. [However, premature closure is 5. The Banking Companies Act was passed in February allowed with certain conditions] 1949, which was subsequently amended as the Banking Y A higher rate of interest is paid in this account, as Regulation Act, 1949. compared to savings account. 6. The largest bank – The Imperial Bank of India – was Recurring or Cumulative Deposits: nationalized in 1955 and rechristened as State Bank of Y A particular fixed amount or instalment is India (SBI) followed by formation of its 8 Associate Banks deposited in this account every month. in 1959. [now five associate banks]. Y This account is useful to build a capital sum 7. The period from 1913 to 1918 witnessed a crisis in the through regular small savings. banking sector with as many as 94 banks collapsing. 1 NOTE ON BANKING 8. The Government issued an ordinance on July 19, 1969 functioning of the bank, which commenced operations on April acquiring ownership and control of 14 major banks in 1, 1935, with a share capital of 5 crore, and was nationalised the country. Six more commercial banks were nationalised in January 1949. It got its membership of Bank of International on 15 April, 1980. The fourteen banks nationalised on Settlements (BIS) in September 1996. 19th July 1969 were the Central Bank of India, Bank of The general administration and direction of the RBI is managed India, Punjab National Bank, Canara Bank, UCO Bank, by a Central Board of Directors consisting of 20 members Syndicate Bank, Bank of Baroda, United Bank of India, which includes the Governor, 4 Deputy Governors, 1 Union Bank of India, Dena Bank, Allahabad Bank, Indian Government official appointed by the Union Government of Bank, Indian Overseas Bank and Bank of Maharashtra. India to give representation to important strata in the economic [The fourteen banks nationalized had reserves or deposits life of the country. The head office of Reserve Bank of India is of more than Rs.50 crores] at Mumbai. At Present Duvvuri Subbarao is the Governor of RBI. Six banks were nationalized on April 15, 1980. They had reserves or deposits of more than Rs.200 crore. The banks Functions of RBI: were 1. Issue of Notes: The Reserve Bank of India is the sole (1) Andhra Bank authority for the issue currency notes of various (2) Punjab & Sind Bank denominations except one-rupee notes. The Reserve Bank (3) New Bank of India of India acts as the only source of legal tender (money) (4) Vijaya Bank because the one rupee notes issued by the Ministry of (5) Corporation Bank Finance are also circulated through it. The RBI has (6) Oriental Bank of Commerce adopted the Minimum Reserve System for the issue of 9. Regional Rural Banks [RRBs] (also known as Grameena notes. Since 1957, it has been maintaining gold and Banks) were formed in 1975, initially in Uttar Pradesh, foreign exchange reserves of Rs.200 crore, of which at Haryana, Rajasthan and West Bengal. least Rs.115 crore should be in gold. 10. The Narsimhan Committee (1991) recommended granting 2. Banker to the Government: The RBI acts as the Banker, permission for the opening of new private banks. Ten Agent and Adviser to the Government. It performs all the private banks were granted permission during 1994 and banking functions of the state and central Governments 1995. These banks were known as “New Generation and it also tenders useful advice to the Government on Banks”, because of their stress on customer friendly and matters related to economic and monetary policy. It also automation friendly policies prominent among the ten manages the public debt for the Government. banks were ICICI Bank. HDFC Bank and UTI Bank [now 3. Bankers’ Bank: The RBI performs the same function Axis Bank]. for the other banks as the other banks ordinarily perform Reserve Bank of India: for their customers. It is not only a banker to the commercial banks, but it is also the lender of the last resort. The Reserve Bank of India is the apex bank or central bank of the country. Central banks have different names in different 4. Controller of Credit: The RBI is the controller of credit countries. It is Reserve Bank of India in India, the Bank of i.e., it has the regulatory power to influence the volume England in England, the Federal Reserve System in America, of credit created by banks in India. It can do so by the Bank of France in France etc, The central bank is defined changing the Bank rate or through open market operations. as the bankers’ bank and lender of last resort. Its duty is to Since, 1956, selective controls on credit are increasingly control the monetary base and, through this, to control the being used by the Reserve Bank. In recent times ‘repo’ community’s supply of money. and ‘reverse repo’ rates are being increasingly used, rather than the conventional tool of Bank Rate. The Reserve Bank of India was set up on the basis of the Hilton Young Commission (1926). The Reserve Bank of India Act, 5. Custodian of Foreign Reserves: For the purpose of 1934 (II of 1934) provided the statutory basis for the keeping the foreign exchange rates stable the Reserve 2 NOTE ON BANKING Bank buys and sells foreign currencies, and also maintains banks in the country. The share of the banking business and protects the country’s foreign exchange funds. of the State Bank Group is roughly 29 percent. In 1933, Structure of Commercial Banks in India the State Bank of India Act was amended to enable it to have access to the capital markets. The SBI thus raised The commercial banking system in India now consists of public over Rs.2,400 crore through public issue. The RBI stake sector scheduled banks and private sector scheduled banks as in SBI is now 55 per cent against 99 per cent earlier. (In well as non-scheduled banks. In terms of business, the public March 2010, Pranab Mukherjee moved the SBI Bill in sector banks now have a dominant position. They account for the Lok Sabha, which seeks to reduce the Union more than 70 per cent of the entire banking business in the Government’s shareholding in the State Bank of India country. from 55 per cent to 51 per cent, to allow the SBI to raise Under the Reserve Bank of India Act, 1934, banks were more capital from the market) classified as scheduled and non-scheduled banks. The ii. Other Nationalised Banks: A second category of public scheduled banks are those which are entered in the second sector banks is of nineteen commercial banks, of which schedule of RBI Act, 1934. All commercial banks, Indian and fourteen were nationalised on July 19, 1969. Each one of foreign, regional rural banks, and state co-operative banks are these fourteen banks had deposits of Rs.50 crore or more scheduled banks. Non – scheduled banks are those, which have at that time. After nationalisation of 14 banks there was a not been included in the second schedule of RBI Act, 1934. At rapid expansion of branch network. On April 15, 1980 present, there are only four non- scheduled banks in the country. six privately owned commercial banks were nationalised. To be included in the second schedule, a bank (a) must have With the nationalization of these six banks, the share of paid up capital and reserves of not less than Rs.5 lakhs. (b) It the private sector in the entire banking sector declined to must also satisfy the RBI that its affairs are not conducted in a just 9 percent.
Load more

Recommended publications
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • GIPE-041303-Contents.Pdf
    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.
    [Show full text]
  • General Knowledge Objective Quiz
    Brilliant Public School , Sitamarhi General Knowledge Objective Quiz Session : 2012-13 Rajopatti,Dumra Road,Sitamarhi(Bihar),Pin-843301 Ph.06226-252314,Mobile:9431636758 BRILLIANT PUBLIC SCHOOL,SITAMARHI General Knowledge Objective Quiz SESSION:2012-13 Current Affairs Physics History Art and Culture Science and Technology Chemistry Indian Constitution Agriculture Games and Sports Biology Geography Marketing Aptitude Computer Commerce and Industries Political Science Miscellaneous Current Affairs Q. Out of the following artists, who has written the book "The Science of Bharat Natyam"? 1 Geeta Chandran 2 Raja Reddy 3 Saroja Vaidyanathan 4 Yamini Krishnamurthy Q. Cricket team of which of the following countries has not got the status of "Test" 1 Kenya 2 England 3 Bangladesh 4 Zimbabwe Q. The first Secretary General of the United Nation was 1 Dag Hammarskjoeld 2 U. Thant 3 Dr. Kurt Waldheim 4 Trygve Lie Q. Who has written "Two Lives"? 1 Kiran Desai 2 Khushwant Singh 3 Vikram Seth 4 Amitabh Gosh Q. The Headquarters of World Bank is situated at 1 New York 2 Manila 3 Washington D. C. 4 Geneva Q. Green Revolution in India is also known as 1 Seed, Fertiliser and irrigation revolution 2 Agricultural Revolution 3 Food Security Revolution 4 Multi Crop Revolution Q. The announcement by the Nuclear Power Corporation of India Limited Chairmen that India is ready to sell Pressurised 1 54th Conference 2 53rd Conference 3 51st Conference 4 50th Conference Q. A pension scheme for workers in the unorganized sector, launched recently by the Union Finance Ministry, has been named 1 Adhaar 2 Avalamb 3 Swavalamban 4 Prayas Q.
    [Show full text]
  • Banking History
    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 .
    [Show full text]
  • Pre-Independence Banking History Post-Independence
    Banking history of India is divided into Two major categories – . Pre-Independence Banking History . Post-Independence Banking History Pre-Independence Banking :- . The origin of modern Banking in India dates back to the 18th century. Bank of Hindusthan was established in 1770 and it was the first bank at Calcutta underEuropean management. Banking Concept in India was brought by Europeans. In 1786 General Bank of India was set up. On June 2, 1806 the Bank of Calcutta established in Calcutta. It was the first Presidency Bank during the British Raj. Bank of Calcutta was established mainly to fund General Wellesley’s wars against Tipu Sultan and the Marathas. On January 2, 1809 the Bank of Calcutta renamed as the Bank of Bengal. In 1839, there was a fruitless effort by Indian merchants to establish a Bank called Union Bank but it failed within a decade. On 15th April, 1840 the second presidency Bank was established in Bombay – Bank of Bombay. On 1 July 1843 the Bank of Madras was established in Madras, now Chennai. It was the third Presidency Bank during the British Raj. Allahabad Bank which was established in 1865 and working even today. The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 145 years is Allahabad Bank. Allahabad bank is also known as one of India’s Oldest Joint Stock Bank. These Presidency banks worked as quasi central banks in India for many years under British Rule. The Comptoire d’Escompte de Paris opened a branch in Calcutta in 1860.
    [Show full text]
  • Download General Studies Notes PDF for IAS Prelims from This Link
    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.
    [Show full text]
  • 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.
    [Show full text]
  • 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).
    [Show full text]
  • 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.
    [Show full text]
  • All India Maha Mock : NPS Trust Officer Exam 2021
    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.
    [Show full text]
  • 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.
    [Show full text]