Category: Banking

Functions of Regional Rural Bank

Rural banking in India came into existence since the establishment of banking sector in India. Rural Banks in those days mainly focused upon the agro sector. Banking Regulation Act, 1949 brought cooperative Banks and Regional Rural Banks under the Reserve…

Functions of RBI

Reserve Bank of India (RBI) is the Indian central bank. It was established in 1 April 1935 and, it was nationalized in 1949. The Central Board of Directors is the main committee of the central bank. Presently, this Board consists…

Functions of Bank

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. Functions of banks can be classified into three parts 1. Primary Functions: Banks perform…

Types of Bank Accounts in India

Different types of bank accounts in India are as follows: Saving account: Saving account is used by general public ; there are restrictions  imposed by the bank on the amount to be withdrawn by the depositor. To withdraw more money…

Types of Cheques in India

A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. It is an unconditional order in writing ,drawn by a customer on his bank, requesting the specifying bank…

The Banking Laws (Amendment) Bill 2012

The Banking Laws (Amendment) Bill, 2012, has been cleared by both houses of Parliament. The bill will become law once President Pranab Mukherjee signs it.  Some Features of the Bill are as Follows– The new regulation increases the shareholders’ voting…

Online-Banking/E-banking

E-banking refers to electronic banking. E-banking involves information technology based banking. Services are delivered through the computer/telephone based system. This system gives a lot of relief to customers as; they need not require visiting the bank branches every time. E-banking…

Central Bank’s policy and its effect

Every free economy’s  monetary & bank’s policy is regulated by the central bank of that economy.Central bank controls the demand and supply of the money in the market through the increase or decrease in the various policy instruments such as…