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HISTORY
PHASE I:- The General Bank of India was set up in the year 1786.
Next came Bank of Hindustan and Bengal Bank. The East of India Company established Bank of Bengal (1809), Bank of Bombay (1840) and bank of madras (1843) as independent units and called it Presidency Banks.
PHASE III:- This phase has introduced many more products and
facilities in he banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimhama, a committee was set up by his name which worked for the liberalization of banking practices.
WHAT IS BANKING
Bank is an institution which trades in money, an establishment for the deposits, custody and issue of money, as also for making loans and discounts and facilitating the transmission of remittances from one place to another.
Stability:
Liquidity: Bank failures Liquidity means damage the the capacity to whole economy promptly meet by destroying the demands of the general Depositors. confidence of This can be the people in done only by such situations. Bank must keeping such therefore cash or near maintain liquidity cash.
and refrain from riskless lending or investment.
Flexiblity: Both the deposit and credit systems should be kept so flexible that they can meet the varying psychological requirements and business needs of the customers.
Dispersal: Banking facilities should not get concentrated in a small region but get dispersed over the whole country to enable equitable regional growth.
Profitablity: The responsibility to share holders and optional business choices in raising resources and extending credit facility.
The 1990s
Liberalization Globalization Structural Change service
Indian economy
Financial Sector
Diversification
Emergence of integrated players Diversifying capital deployment Leveraging synergies
Technology
Regulation
Robust regulatory system aligned to international standards Efficient monetary management
Increasingly use of technology in operations Poised to expand and deepen technology usage
CTS standard cheque are aimed at enhancing customer safety and facilitating easier processing. Under the CTS system, the physical movement of cheque between banks will be eliminated. In addition to the electronic image, certain relevant information is also transmitted, such as date of presentation, presenting bank details, data on the MICR band.
It is a poverty reduction measure in which government subsidies and other benefits are given directly to the poor in cash rather than in the form of subsidies.
What are its benefits? It can help the government reach out to identified beneficiaries and can plug leakages. Currently, ration shop owners divert subsidized PDS grains or kerosene to open market and make fast buck. Such Leakages could stop. The scheme will also enhance efficiency of welfare schemes.
How is it implemented? The money is directly transferred into bank accounts of beneficiaries. LPG and kerosene subsidies, pension payments, scholarships and employment guarantee scheme payments as well as benefits under other government welfare programs will be made directly to beneficiaries. The money can then be used to buy services from the market. For ex. if subsidy on LPG or kerosene is abolished and the government still wants to give the subsidy to the poor, the subsidy portion will be transferred as cash into the banks of the intended beneficiaries.
Mobile Banking
ATM
Computerization Virtual bankingdont visit the branch
Development of Distribution Channels
Insurance Product
Conclusion:From the above we can conclude that, As the bank is providing many schemes in Rural and Urban sectors and increasing smoothness in transactions. Government also help to provide more security to the consumers. And also provide Direct cash transfer scheme to the Rural consumers. The working procedure which has been existed in the bank is really nice in the nature. The staff which is working in the bank is very co-operative in natures and they are working at their best level and providing best kind of services to its customers. As the employees are taking part in the decision making process so they are not having any complaint with the management.
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