DOCSLIB.ORG

Banks: Evolution, 1 Types & Functions

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read 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. But modern banking began with the English goldsmiths only after 1640. It was the ‘merchant banker’ who first evolved the system of banking by trading in commodities than money. Their trading activities required the remittances of money from one place to another by issuing ‘hundis’. The next stage in the growth of banking was the goldsmith. Due to the nature of his work a goldsmith had to take special precautions against theft of gold and jewellery. Thus merchants started leaving their bullion, money and ornaments in his care. As this practice spread, the goldsmith started charging some fees for taking care of the money and bullion and issued receipts as an evidence of receipt of the valuables. Since gold and silver coins had no marks of the owner, the goldsmith started lending them. As the goldsmith was prepared to give the holder of the receipt and equal amount of money on demand, the goldsmith receipt became like cheques as a medium of exchange and a means of payment. The next stage in the growth of banking is the moneylender. The goldsmith found that on an average the withdrawals of coins were much less than the deposits with him. So he started advancing the coins on loan by charging interest. As a safeguard, he kept some money in the reserve. Thus the goldsmith-money- lender became a banker who started performing the two functions of modern banking that of accepting deposits and advancing loans. 2 Banking & Financial Institutions HISTORY OF BANKING IN INDIA Chanakya, in his Arthashastra written in about 300 B.C., mentioned about the existence of powerful guilds of merchant bankers who received deposits, and advanced loans and issued hundis (letters of transfer). The Jain scriptures mention the names of two bankers who built the famous Dilwara Temples of Mount Abu during 1197 and 1247 A.D. During pre-independence period banking was mainly carried out by indigenous bankers and money lenders. Indigenous bankers are individuals or firms dealing in hundies and sometimes accept deposits. The merchant bankers in India were known as ‘Seths’. The First Bank The first bank in India was the ‘Bank of Hindustan’ started in 1770 by Alexander & Co., an English agency house in Calcutta under European Management which failed in 1782 with the closure of the agency house. It was liquidated during the period 1829-1832. The Presidency Banks The first bank in the modern sense was established in the Bengal Presidency as the Bank of Calcutta in 1806. It was renamed Bank of Bengal in 1809. This was one of the three banks funded by a presidency government (British Govt), the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. These banks were given the right to issue notes in their respective region. Bank of Calcutta 1806 Bank of Bengal 1920 1809 Acted As Central J.M. State Bank of India Bank of Bombay Imperial Bank Keynes 1840 of India 1921 1955 Bank of India Bank of Madras 1843 Imperial Bank of India The three presidency banks were merged in 1921 to form the “Imperial Bank of India” on the advice of J. M. Keynes, It acted as Central Bank of India (or) Quasi-central bank till the establishment of RBI in 1935. The State Bank of India After India's independence, Imperial Bank of India became the State Bank of India in 1955. In 1960, the State Bank of India was given control of eight state-associated banks (State Bank of India (SBI), State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Indore (SBN), State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Saurashtra (SBS) and State Bank of Travancore (SBT)) under the State Bank of India (Subsidiary Banks) Act, 1959. These are now called its associate banks. Banks: Evolution, Types and Functions 3 The First Joint Stock Bank – Allahabad Bank Allahabad Bank (est. 1865) is the oldest Joint Stock Bank in India. A joint stock bank is a bank which is a public company with shares owned by investors rather than a government. The First Indian Bank with Indian Capital – Punjab National Bank Lala Lajpat Rai founded Punjab National Bank on 19th May 1894, Lahore, Pakistan. PNB has the distinction of being the first Indian bank to have been started solely with Indian capital that has survived to the present. The First Indian Bank - Oudh Commercial Bank (1881 – 1958) The first entirely Indian bank, Oudh Commercial Bank, was established in 1881 in Faizabad, but failed in 1958. General Bank of India (1786 – 1791) General Bank of India was another Indian bank that was formed in 1786. It was however unsuccessful and finally dissolved in 1791 Alliance Bank of Shimla (1874 – 1923) The Alliance Bank of Shimla was a British-run though India-registered bank that commenced operations in Shimla 1874 under the management of Mr. James Walker. It was established to take over the business of the United Bank of India, established in 1866, with operations in Simla and Umballa. Its board put the United Bank of India in voluntary liquidation on Saturday 21 March, and Alliance Bank commenced operations on Monday, 23 March. The Alliance Bank failed on 27 April 1923 due to speculation by its management. At the time that it failed it had 36 branches, including ones in Lahore, Lucknow, Peshawar, Rawalpindi, and Rangoon. The Central Bank of India The Central Bank of India was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozeshah Mehta as Chairman, and claims to have been the first commercial Indian bank completely owned and managed by Indians. The Bank of India: First Bank in India to have Overseas Branch Founded in 1906, the Bank of India is a commercial bank with headquarters at Bandra Kurla complex, Mumbai. It is the first Bank in India to have opened an overseas branch: London (1946), Paris (1974). The Bank of Baroda: Among the Indian banks it has the most number of branches abroad Bank of Baroda (BoB) is an Indian state-owned International banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. The bank was founded by the Maharaja of Baroda, Maharaja Sayajirao Gaekwad III on 20 July 1908 in the Princely State of Baroda, in Gujarat. 4 Banking & Financial Institutions Union Bank of India Union Bank of India (Union Bank) was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. DIFFERENT TYPES OF BANKS IN INDIA NATIONALIZED BANK Indian Banking System witnessed a major revolution in the year 1969 when 14 major commercial banks in the private sector were nationalized on 19th July, 1969. Most of these banks having deposits of above Rs. 50 crores were promoted in the past by the industrialists. These banks were First round (19 July, 1969)- 1. Allahabad bank 2. Bank of Baroda 3. Bank of India Banks: Evolution, Types and Functions 5 4. Bank of Maharashtra 5. Central bank of India 6. Canara bank 7. Dena bank 8. Indian bank 9. Indian overseas bank 10. Punjab national bank 11. Syndicate bank 12. UCO bank 13. Union bank 14. United bank of India In 1980, another six more commercial banks with deposits of above Rs. 200 crores were nationalized: Banks which were nationalised on 15th April, 1980- (6 Banks) 1. Punjab and Sind bank 2. Vijaya bank 3. Oriental bank of India 4. Corporate bank 5. Andhra bank 6. New bank of India - (Later it was merged with PNB) Thus, in total 20 banks were nationalised. Out of these New Bank of India was merged with PNB in 1993. Now strictly speaking 19 nationalized banks are in existence. The nationalization of banks resulted in rapid branch expansion and the number of commercial bank branches have increased many folds in Metro, Urban, Semi – Urban and Rural Areas. The branch network assisted banks to mobilize deposits and lot of economic activities have been started on account of priority sector lending.
Load more

Recommended publications
  • Bibliography
    BIbLIOGRAPHY 2016 AFI Annual Report. (2017). Alliance for Financial Inclusion. Retrieved July 31, 2017, from https://www.afi-global.org/sites/default/files/publica- tions/2017-05/2016%20AFI%20Annual%20Report.pdf. A Law of the Abolition of Currencies in a Small Denomination and Rounding off a Fraction, July 15, 1953, Law No.60 (Shōgakutsūka no seiri oyobi shiharaikin no hasūkeisan ni kansuru hōritsu). Retrieved April 11, 2017, from https:// web.archive.org/web/20020628033108/http://www.shugiin.go.jp/itdb_ housei.nsf/html/houritsu/01619530715060.htm. About PBC. (2018, August 21). The People’s Bank of China. Retrieved August 21, 2018, from http://www.pbc.gov.cn/english/130712/index.html. About Us. Alliance for Financial Inclusion. Retrieved July 31, 2017, from https:// www.afi-global.org/about-us. AFI Official Members. Alliance for Financial Inclusion. Retrieved July 31, 2017, from https://www.afi-global.org/sites/default/files/inlinefiles/AFI%20 Official%20Members_8%20February%202018.pdf. Ahamed, L. (2009). Lords of Finance: The Bankers Who Broke the World. London: Penguin Books. Alderman, L., Kanter, J., Yardley, J., Ewing, J., Kitsantonis, N., Daley, S., Russell, K., Higgins, A., & Eavis, P. (2016, June 17). Explaining Greece’s Debt Crisis. The New York Times. Retrieved January 28, 2018, from https://www.nytimes. com/interactive/2016/business/international/greece-debt-crisis-euro.html. Alesina, A. (1988). Macroeconomics and Politics (S. Fischer, Ed.). NBER Macroeconomics Annual, 3, 13–62. Alesina, A. (1989). Politics and Business Cycles in Industrial Democracies. Economic Policy, 4(8), 57–98. © The Author(s) 2018 355 R. Ray Chaudhuri, Central Bank Independence, Regulations, and Monetary Policy, https://doi.org/10.1057/978-1-137-58912-5 356 BIBLIOGRAPHY Alesina, A., & Grilli, V.
    [Show full text]
  • Thirteenth Session, Commencing at 2.30Pm INDIAN BANKNOTES
    Thirteenth Session, Commencing at 2.30pm INDIAN BANKNOTES AN IMPORTANT COLLECTION OF INDIAN 3931* PAPER MONEY Bank of Hindostan, 16 sicca rupees, 183. Calcutta (P.S137; Jhun.1.4.3). Nearly very fi ne and rare. $3,000 Acquired mostly during the 1960s and 1970s, the highlights The Bank of Hindostan (1770-1832) was the fi rst bank to issue banknotes in of the following collection include a Bank of Hindostan 16 Bengal Presidency. They circulated in Calcutta and nearby neighbourhoods. Only a few notes were still in circulation when the bank closed in 1832. Sicca Rupees, c1830; a group of 45 Government of India one sided (uniface) notes of 5 rupees to 1000 rupees, from 1872 to 1918. This group contains two specimen 5 rupees of 1915, a 50 rupees and a 1000 rupees of 1918. There is a good selection of 1917 one rupee notes including a specimen, also an attractive example of a 2 rupees 8 annas. The George V section contains most types and signatures up to the 1000 rupees. One of the major highlights of the collection is the George V, 10 rupees specimen note that was given to visitors invited to the inauguration of the India Security Press on 14 April 1928. This distinct type has a larger portrait of George V and was never issued for circulation. The section also contains a specimen 5 rupees, two 50 rupees and eight different 100 rupees. Following this is the George VI section which is almost complete and includes six 100 rupees and two 1000 rupees.
    [Show full text]
  • 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]
  • Official Site, Telegram, Facebook, Instagram, Instamojo
    Page 1 Follow us: Official Site, Telegram, Facebook, Instagram, Instamojo All SUPER Current Affairs Product Worth Rs 1200 @ 399/- ( DEAL Of The Year ) Page 2 Follow us: Official Site, Telegram, Facebook, Instagram, Instamojo SUPER Current Affairs MCQ PDF 3rd August 2021 By Dream Big Institution: (SUPER Current Affairs) © Copyright 2021 Q.World Sanskrit Day 2021 was celebrated on ___________. A) 3 August C) 5 August B) 4 August D) 6 August Answer - A Sanskrit Day is celebrated every year on Shraavana Poornima, which is the full moon day in the month of Shraavana in the Hindu calendar. In 2020, Sanskrit Day was celebrated on August 3, while in 2019 it was celebrated on 15 August. Sanskrit language is believed to be originated in India around 3,500 years ago. Q.Nikol Pashinyan has been re-appointed as the Prime Minister of which country? A) Ukraine C) Turkey B) Armenia D) Lebanon Answer - B Nikol Pashinyan has been re-appointed as Armenia’s Prime Minister by President Armen Sarkissian. Pashinyan was first appointed as the prime minister in 2018. About Armenia: Capital: Yerevan Currency: Armenian dram President: Armen Sargsyan Page 3 Follow us: Official Site, Telegram, Facebook, Instagram, Instamojo Q.Min Aung Hlaing has taken charge as the Prime Minister of which country? A) Bangladesh C) Thailand B) Laos D) Myanmar Answer - D The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country on August 01, 2021. About Myanmar Capital: Naypyitaw; Currency: Kyat. NEWLY Elected
    [Show full text]
  • Influence of Merger on Performance of Indian Banks: a Case Study
    Journal of Poverty, Investment and Development www.iiste.org ISSN 2422-846X An International Peer-reviewed Journal Vol.32, 2017 Influence of Merger on Performance of Indian Banks: A Case Study Gopal Chandra Mondal Research Scholar, Dept. of Economics, Vidyasagar University, India& Chief Financial Officer,IDFC Foundation,New Delhi, India Dr Mihir Kumar Pal Professor,Dept. Of Economics, Vidyasagar University, India Dr Sarbapriya Ray* Assistant Professor, Dept. of Commerce, Vivekananda College, Under University of Calcutta, Kolkata,India Abstract The study attempts to critically analyze and evaluate the impact of merger of Nedungadi bank and Punjab National Bank on their operating performance in terms of different financial parameters. Most of the financial indicators of Nedungadi bank and Punjab National Bank display significant improvement in their operational performance during post merger period. Therefore, the results of the study reveal that average financial ratios of sampled banks in Indian banking sector showed a remarkable and significant improvement in terms of liquidity, profitability, and stakeolders wealth. Keywords: Merger, India, Nedungadi bank, Punjab National Bank. 1. Introduction: Concept of merger and acquisition has become very trendy in present day situation, especially, after liberalization initiated in India since 1991. The emergent tendency towards mergers and acquisitions (M&As) world-wide, has been ignited by intensifying competition. Mergers and acquisitions have been taking place in corporate as well as banking sector to abolish financial, operation and managerial weakness as well as to augment growth and expansion , to create shareholders value, stimulate health of the organization with a view to confront challenges in the face of stiff competitive in globalized environment.
    [Show full text]
  • A Comparative Analysis of Financial Performance of Nepal SBI Bank Limited, Himalayan Bank Limited and Kumari Bank Limited
    A Comparative Analysis of Financial Performance of Nepal SBI Bank Limited, Himalayan Bank Limited and Kumari Bank Limited By: Sushma Rai Post Graduate Campus Faculty of Management T.U. Registration No.: 7-2-218-286-2002 A Thesis Submitted To: Office of the Dean Faculty of Management Tribhuvan University In partial fulfillment of the requirements of the degree of Masters of Business Studies (M.B.S.) Biratnagar, Nepal August, 2009 TRIBHUVAN UNIVERSITY Faculty of Management POST GRADUATE CAMPUS Biratnagar, Nepal Tel No. 021-526327 Ref. No.: RECOMMENDATION This is to certify that the thesis: Submitted by Sushma Rai Entitled A Comparative Analysis of Financial performance of Nepal SBI Bank Limited, Himalayan Bank Limited And Kumari Bank Limited has been prepared as approved by this Department in the prescribed format of Faculty of Management. This thesis is forwarded for examination. Supervisor Head of Department (Prof. Dr. Khagendra Acharya) (Prof. Dr. Madhav Bahadur Shrestha) ............................................. ..................................................... Campus Chief (Mr. Harihar Bhandari) Date: ............................. ......................................... TRIBHUVAN UNIVERSITY Faculty of Management POST GRADUATE CAMPUS Biratnagar, Nepal Tel No. 021-526327 Ref. No.: VIVA-VOCE SHEET We have conducted the Viva-Voce examination of the thesis presented by Sushma Rai entitled A Comparative Analysis of Financial Performance of Nepal SBI Bank Limited, Himalayan Bank Limited and Kumari Bank Limited and found the thesis to be the original work of the student and written according to the prescribed format. We recommend the thesis to be accepted as partial fulfillment the requirement for Master's Degree in Business Studies (M.B.S.) Viva-Voce Committee Chairperson, Research Committee: ......................................... Member (Thesis Supervisor): ........................................
    [Show 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.
    [Show full text]
  • State Bank of India
    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.
    [Show full text]
  • Banking Laws in India
    Course: CBIL-01 Banking Laws In India Vardhaman Mahaveer Open University, Kota 1 Course: CBIL-01 Banking Laws In India Vardhaman Mahaveer Open University, Kota 2 Course Development Committee CBIL-01 Chairman Prof. L. R. Gurjar Director (Academic) Vardhaman Mahaveer Open University, Kota Convener and Members Convener Dr. Yogesh Sharma, Asso. Professor Prof. H.B. Nanadwana Department of Law Director, SOCE Vardhaman Mahaveer Open University, Kota Vardhaman Mahaveer Open University, Kota External Members: 1. Prof. Satish C. Shastri 2. Prof. V.K. Sharma Dean, Faculty of law, MITS, Laxmangarh Deptt.of Law Sikar, and Ex. Dean, J.N.Vyas University, Jodhpur University of Rajasthan, Jaipur (Raj.) 3. Dr. M.L. Pitaliya 4. Prof. (Dr.) Shefali Yadav Ex. Dean, MDS University, Ajmer Professor & Dean - Law Principal, Govt. P.G.College, Chittorgarh (Raj.) Dr. Shakuntala Misra National Rehabilitation University, Lucknow 5. Dr Yogendra Srivastava, Asso. Prof. School of Law, Jagran Lakecity University, Bhopal Editing and Course Writing Editor: Course Writer: Dr. Yogesh Sharma Dr Visvas Chauhan Convener, Department of Law State P. G. Law College, Bhopal Vardhaman Mahaveer Open niversity, Kota Academic and Administrative Management Prof. Vinay Kumar Pathak Prof. L.R. Gurjar Vice-Chancellor Director (Academic) Vardhaman Mahaveer Open University, Kota Vardhaman Mahaveer Open University, Kota Prof. Karan Singh Dr. Anil Kumar Jain Director (MP&D) Additional Director (MP&D) Vardhaman Mahaveer Open University, Kota Vardhaman Mahaveer Open University, Kota Course Material Production Prof. Karan Singh Director (MP&D) Vardhaman Mahaveer Open University, Kota Production 2015 ISBN- All right reserved no part of this book may be reproduced in any form by mimeograph or any other means, without permission in writing from the V.M.
    [Show full text]
  • A Relative Comparison of Financial Performance of State Bank of India and Axis Bank
    Journal of Management (JOM) Volume 6, Issue 1, January – February 2019, pp. 162–169, Article ID: JOM_06_01_017 Available online at http://www.iaeme.com/JOM/issues.asp?JType=JOM&VType=6&IType=1 Journal Impact Factor (2019): 5.3165 (Calculated by GISI) www.jifactor.com ISSN Print: 2347-3940 and ISSN Online: 2347-3959 DOI: 10.34218/JOM.6.1.2019.017 © IAEME Publication A RELATIVE COMPARISON OF FINANCIAL PERFORMANCE OF STATE BANK OF INDIA AND AXIS BANK Premchand Kaila Research Scholar, Department of Management Studies, Jawaharlal Nehru Technological University Anantapur, Anantapuramu, India Dr. E. Lokanadha Reddy Professor, Department of Management Studies, Sri Venkateswara College of Engineering and Technology, R.V.S.Nagar, Chittoor, Andhra Pradesh, India Dr. T. Narayana Reddy Associate Professor, Department of Management Studies, Jawaharlal Nehru Technological University Anantapur, Anantapuramu, India ABSTRACT State Bank of India (SBI) and AXIS Bank are the two leading banks in India.one being a public sector and later one is private sector bank. Financial Performance and the efficient functioning of commercial banks are the major measuring attributes of a country’s financial system. For the comparison of bank’s position the study has applied Solvency ratios, Profitability ratios, and Management efficiency ratios on SBI and AXIS Bank. The study has identified that the banks have been maintaining their prescribed parameters and operating profitably. Further the study notices a difference in the efficiencies and performances of the Banks with regards to Investments, Net profit, Advances, Deposits, and Total assets. The study, tries to prove that SBI has a better performance AXIS Bank.
    [Show full text]
  • S. No. Regional Office Party/Payee Name Individual
    AGRICULTURE INSURANCE COMPANY OF INDIA LTD. STATEMENT OF STALE CHEQUES As on 30.09.2017 Unclaimed amount of Policyholders related to Stale Cheques more than Rs. 1000/- TYPE OF PAYMENT- REGIONAL INDIVIDUAL/ FINANCIAL AMOUNT (IN S. NO. PARTY/PAYEE NAME ADDRESS CLAIMS/ EXCESS SCHEME SEASON OFFICE INSTITUTION RS.) COLLECTION (a) (b) (c) (d) (e) (i) (j) (k) (l) (m) 1 AHMEDABAD BANK OF BARODA, GODHARA FINANCIAL INSTITUTION STATION ROAD ,GODHARA 2110.00 EXCESS COLLECTION NAIS KHARIF 2006 2 AHMEDABAD STATE BANK OF INDIA, NADIAD FINANCIAL INSTITUTION PIJ ROAD,NADIAD 1439.70 EXCESS COLLECTION NAIS KHARIF 2006 3 AHMEDABAD STATE BANK OF INDIA (SBS),JUNAGADH FINANCIAL INSTITUTION CIRCLE CHOWK,JUNAGADH 1056.00 EXCESS COLLECTION NAIS KHARIF 2007 4 AHMEDABAD UNION BANK OF INDIA, NADIAD FINANCIAL INSTITUTION TOWER,DIST.KHEDA,NADIAD 1095.50 EXCESS COLLECTION NAIS KHARIF 2007 5 AHMEDABAD BANK OF BARODA, MEHSANA FINANCIAL INSTITUTION STATION ROAD,MEHSANA 1273.80 EXCESS COLLECTION NAIS KHARIF 2008 PATNAGAR YOJANA 6 AHMEDABAD BANK OF INDIA, GANDHINAGAR FINANCIAL INSTITUTION 13641.60 EXCESS COLLECTION NAIS KHARIF 2008 BHAVAN,GHANDHINAGAR 7 AHMEDABAD ORIENTAL BANK OF COMMERCE, UNJHA FINANCIAL INSTITUTION DIST.MEHSANA,UNJA 16074.00 EXCESS COLLECTION NAIS KHARIF 2008 OTHERS 8 AHMEDABAD NAJABHAI DHARAMSIBHAI SAKARIYA INDIVIDUAL DHANDHALPUR, CHOTILA 1250.00 CLAIMS KHARIF 2009 PRODUCTS OTHERS 9 AHMEDABAD TIGABHAI MAVJIBHAI INDIVIDUAL PALIYALI, TALAJA, BHAVNAGAR 1525.00 CLAIMS KHARIF 2009 PRODUCTS OTHERS 10 AHMEDABAD REMATIBEN JEHARIYABHAI VASAVA INDIVIDUAL SAGBARA,
    [Show full text]
  • Commercial Bank
    Commercial bank An institution which accepts deposits, makes business loans, and offers related services. Commercial banks also allow for a variety of deposit accounts, such as checking, savings, and time deposit. These institutions are run to make a profit and owned by a group of individuals, yet some may be members of the Federal Reserve System. While commercial banks offer services to individuals, they are primarily concerned with receiving deposits and lending to businesses. Nature of Commercial Banks Commercial banks are an organization which normally performs certain financial transactions. It performs the twin task of accepting deposits from members of public and make advances to needy and worthy people form the society. When banks accept deposits its liabilities increase and it becomes a debtor, but when it makes advances its assets increases and it becomes a creditor. Banking transactions are socially and legally approved. It is responsible in maintaining the deposits of its account holders. Indian Banking Industry Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as "The Bank of Bengal" in Calcutta in June 1806. A couple of decades later, foreign banks like Credit Lyonnais started their Calcutta operations in the 1850s. At that point of time, Calcutta was the most active trading port, mainly due to the trade of the British Empire, and due to which banking activity took roots there and prospered.
    [Show full text]