Essay on banking sector in india
From: Dylan M.
Category: nature nurture
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Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in , and Bank of Hindustan, which started in ; both are now defunct. The oldest bank in existence in India is the state bank of India, which originated in the Bank of Calcutta in June , which almost immediately became theBank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors.
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Essay: The Indian Banking System
Economic Reforms Of The Banking Sector In India Free Essay Sample
With liberalisation, the Bank's focus has shifted back to core central banking functions like Monetary Policy, Bank Supervision and Regulation, and overseeing the payments System and onto developing the financial markets. Now currently there are 7 major roles of RBI: 1. Issue of Bank Notes: The Reserve Bank of India has the right to issue currency notes except one rupee notes which are issued by the Ministry of Finance. Reserve Bank of India is also accountable for an effectual payment and settlement system. The main liabilities in central bank are banknotes and Central bank divided into two different working departments which are Issue and Banking. Monetary Policy is a policy used by central bank to settle the money supply, influence the interest rate and exchange rate.
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Overview of the Indian Banking Sector Essay Sample
Trade Policy Reforms: Trade Policy Reform liberalised the policy of import substitution mentioned earlier. Also govt. So, abolishment. Mergers and Acquisitions have become a positive way for growth in the size of banks which in turn play a significant role in entering the competitive global financial market. The Indian banking sector can be divided into two eras, the pre liberalization era and the post liberalization era.
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