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Banking in India Past, Present and Future

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Banking in India Past, Present and Future Banking in India Past, Present and Future By Ujjwala Shahi Associate Professor, B.D. College, Magadh University, Patna New Century Publications New Delhi, India Contents Foreword v About the Book vii Author's Profile viii Preface xviii-xx 1. Banking in India: An Introduction 1-11 1.1 Advent of Banking in India .1.2 Banking Defined 1.3 Functions of Commercial Banks 1.3.1 Payment System 1.3.2 Financial Intermediation 1.3.3 Financial Services 1.4 Financial Intermediaries 1.4.1 Term-lending Institutions 1.4.2 Non-banking Finance Companies (NBFCs) 1.4.3 Insurance Companies 1.4.4 Mutual Funds 1.5 Structure of Banking in India 1.5.1 Banking Regulator 1.5.2 Scheduled Banks in India 1.5.3 Public Sector Banks 1.5.4 Regional Rural Banks 1.5.5 Private Sector Banks 1.5.6 Foreign Banks 1.5.7 Co-operative Banks 1.6 Role of Reserve Bank of India 2. Reserve Bank of India (RBI) 12-39 2.1 Origins of the Reserve Bank of India 2.2 Monetary Authority 2.2.1 Direct Instruments 2.2.2 Indirect Instruments x Banking in India: Past, Present and Future 2.3 Issuer of Currency 2.4 Banker and Debt Manager to Government 2.5 Banker to Banks 2.6 Regulator of the Banking System 2.7 Management of Foreign Exchange 2.8 Regulator/Supervisor of Payment and Settlement Systems 2.9 Developmental Role 2.10 RBI and Customer Service in Banks 2.11 Subsidiaries of RBI 2.11.1 Deposit Insurance and Credit Guarantee Corporation (DICGC) 2.11.2 National Housing Bank (NHB) 2.11.3 Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) 2.11.4 National Bank for Agriculture and Rural Development (NABARD) 2.12 Governors of the Reserve Bank of India 2.12.1 Sir Osborne Smith 2.12.2 Sir James Braid Taylor 2.12.3 Shri Chintaman Dwarkanath Deshmukh 2.12.4 Sir Benegal Rama Rau 2.12.5 Shri K.G. Ambegaokar 2.12.6 Shri H.V.R. Iengar 2.12.7 Shri P.C. Bhattacharya 2.12.8 Shri L.K. Jha 2.12.9 Shri B.N. Adarkar 2.12.10 Shri S. Jagannathan 2.12.11 Shri N.C. Sen Gupta 2.12.12 Shri K.R. Puri 2.12.13 Shri M. Narasimham 2.12.14 Dr. I.G. Patel 2.12.15 Dr. Manmohan Singh 2.12.16 Shri A. Ghosh 2.12.17 Shri R.N. Malhotra 2.12.18 Shri S. Venkitaramanan Contents xi 2.12.19 Dr. C. Rangarajan 2.12.20 Dr. BimalJalan 2.12.21 Dr. Yaga Venugopal Reddy 2.12.22 Dr. D. Subbarao 3. State Bank of India (SBI) 40-58 3.1 Evolution of SBI 3.2 Awards Won by SBI 3.3 Corporate Social Responsibility 3.4 Associates of SBI 3.4.1 SBI Capital Markets Ltd (SBICAP) 3.4.2 SBICAP Securities Limited (SSL) 3.4.3 SBI Funds Management Pvt. Ltd. (SBI Funds) 3.4.4 SBI DFHI Ltd. (SBI DFHI) 3.4.5 SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) 3.4.6 SBI Commercial & International Bank Ltd. (SBICI) 3.4.7 SBICAPS Ventures Limited (SVL) 3.4.8 SBICAP (UK) Ltd. (SUL) 3.4.9 SBICAP Trustee Co. Ltd. (STCL) 3.4.10 SBI Global Factors Ltd. (SBIGFL) 3.4.11 SBI Factors and Commercial Services Pvt. Ltd (SBI FACTORS) 3.4.12 SBI Life Insurance Company Ltd (SBI LIFE) 3.4.13 SBI General Insurance Company Limited 3.4.14 SBI-SG Global Securities Services Private Limited 3.4.15 SBI Pension Funds Pvt. Ltd. (SBIPF) 4. Subsidiaries of State Bank of India 59-67 4.1 State Bank of Bikaner and Jaipur 4.1.1 Vision xii Banking in India: Past, Present and Future 4.1.2 Mission 4.2 State Bank of Hyderabad 4.2.1 Mission 4.3 State Bank of Mysore 4.4 State Bank of Patiala 4.5 State Bank of Travancore 5. Public Sector Banks • — 68-97 5.1 Allahabad Bank 5.2 Andhra Bank 5.3 Bank of Baroda 5.4 Bank of India 5.5 Bank of Maharashtra 5.6 Canara Bank 5.7 Central Bank of India 5.8 Corporation Bank 5.9 Dena Bank 5.10 Indian Bank 5.11 Indian Overseas Bank 5.12 Oriental Bank of Commerce 5.13 Punjab and Sind Bank 5.14 Punjab National Bank 5.15 Syndicate Bank 5.16 UCO Bank 5.17 Union Bank of India 5.18 United Bank of India 5.19 Vijaya Bank 5.20 Industrial Development Bank of India 6. Old Generation Private Sector Banks 98-113 6.1 Catholic Syrian Bank 6.2 Dhanlaxmi Bank 6.3 Federal Bank 6.4 Karnataka Bank 6.5 Karur Vysya Bank 6.6 South Indian Bank Contents xiii 6.7 City Union Bank Ltd. 6.8 ING Vysya Bank Ltd. 6.9 Tamilnad Mercantile Bank Limited 6.10 Jammu and Kashmir Bank 6.11 Lakshmi Vilas Bank 6.12 The Nainital Bank Limited 6.13 Ratnakar Bank 6.14 Bank of Rajasthan 7. New Generation Private Sector Banks 114-122 7.1 Axis Bank Ltd. 7.2 Development Credit BankXimited 7.3 HDFC Bank Limited 7.4 ICICI Bank Limited 7.5 Induslnd Bank Ltd. 7.6 Kotak Mahindra Bank Limited 7.7 Yes Bank 8. Regional Rural Banks (RRBs) 123-130 8.1 Introduction 8.2 RRB's Potential Role in Financial Inclusion 8.3 RRBs as Self-help Promotion Institutions (SHPI) 8.4 Strategic Microfinance Plan with NABARD Support 8.5 Separate Credit Plan for Excluded Regions 8.6 Computerisation 8.7 NABARD and RRBs 8.8 Local Area Banks 9. Cooperative Banks 131-141 9.1 Urban Cooperative Banks 9.1.1 The Beginning 9.2 Cooperative Banks: Main Attributes 9.2.1 Customer-owned Entities 9.2.2 Democratic Member Control xiv Banking in India: Past, Present and Future 9.2.3 Profit Allocation 9.3 RBI Policies for Cooperative Banks 9.4 Types of Cooperative Banks 9.4.1 Primary Cooperative Credit Society 9.4.2 Central Cooperative Banks 9.4.3 State Cooperative Banks 9.4.4 Land Development Banks 9.4.5 Urban Cooperative Banks 9.5 Functions of Cooperative Banks 9.6 Concerns Regarding Cooperative Banks 10. Foreign Banks in India 142-155 10.1 American Express Bank 10.2BNPParibas 10.3 Citibank 10.4 DBS Bank 10.5 Deutsche Bank 10.6 HSBC Bank 10.7 Standard Chartered Bank 10.8 Bank of America 10.9 The Royal Bank of Scotland 10.10 UBS Bank 10.11 SonaliBank 10.12 Oman International Bank 10.13 Some Other Foreign Banks in India 10.13.1 Abu Dhabi Commercial Bank Ltd. 10.13.2 Antwerp Diamond Bank 10.13.3 Arab Bangladesh Bank 10.13.4 Bank of Bahrain and Kuwait BSC 10.13.5 Bank of Ceylon 10.13.6 Bank of Nova Scotia 10.13.7 Bank of Tokyo-Mitsubishi UFJ Ltd. 10.13.8 Chinatrust Commercial Bank Ltd. 10.13.9 Credit Agricole Corporate and Investment Bank 10.13.10 JP Morgan Chase Bank Contents xv 10.13.11 PT. Bank International Indonesia Tbk. 10.13.12 Societe Generate 10.13.13 VTB Bank 11. National Bank for Agriculture and Rural Development (NABARD) 156-159 11.1 NABARD's Operations in Brief' 11.1.1 Seasonal Agricultural Operations (SAO) 11.1.2 Weavers' Finance 11.2 Medium-term Credit 11.2.1 Medium-term (Conversion) Loan 11.2.2 Medium-term (Non-schematic) Loans 11.3 Eligible Institutions 11.4 Eligible Purposes for Refinance 12. Small Industries Development Bank of India (SIDBI) 160-167 12.1 Mandatory Objectives 12.2 Development Outlook 12.3 Promotional Activities 12.3.1 India SME Technology Services Limited 12.4 Rural Industries Programme (RIP) 12.4.1 Modified Rural Industries Programme (MRIP) 12.5 Entrepreneurship Development Programme (EDP) 12.6 Technology Upgradation Programmes 13. Export-Import Bank of India (EXIM Bank) 168-173 13.1 Establishment of EXIM Bank 13.2 Objectives and Functions 13.3 Initiatives by EXIM Bank xvi Banking in India: Past, Present and Future 14. Business Correspondents and Business Facilitators (BCs/BFs) 174-186 14.1 Introduction to BC/BF 14.2 Financial Inclusion 14.3 Some Successful Models of Financial Inclusion 14.3.1 Financial Inclusion in Brazil . 14.3.2 South Africa 14.3.3 Kenya 14.3.4 Mexico 14.4 BC/BF Banking Channel 14.5 Guidelines for Business Correspondents (BCs) 14.5.1 Scope of Activities 14.6 Guidelines for Business Facilitators (BFs) 14.6.1 Business Facilitator Model 14.6.2 Scope of Activities 14.7 Consumer Protection Measures 14.8 Advantages of Using BCs/BFs 14.9 Viability issues for BCs/BFs 15. Alternate Banking Channels 187-192 15.1 Introduction 15.2 Challenges Ahead 16. Cyber Crimes and the Banking Sector 193-204 16.1 Introduction 16.2 Common Cyber Crime Risks of Financial Institutions 16.2.1 Phishing 16.2.2 ID Theft 16.2.3 Worm and Trojan Horse 16.2.4 Spyware 16.2.5 Search Engines 16.2.6 Denial of Service (DoS) 16.2.7 Debit/Credit Card Cloning 16.2.8 Hacking Contents xvii 16.2.9 E-mail Bombing 16.2.10 Data Diddling 16.2.11 Logic Bombs 16.2.12 Web Jacking 16.2.13 Money Laundering 16.3 Control and Prevention of Electronic Crime in Banks 17. The Way Forward 205-212 Bibliography 213-218 Index 219-226.
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