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…
Category: Banking
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account: Saving account is used by general public ; there are restrictions imposed by the bank on the amount to be withdrawn by the depositor.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…
Gold Loan in India-Benefits of Gold Loan-Required Documents
From ancient time people of India give a lot of importance to gold. Every Father gives gold ornaments to his daughter at the time of marriage. Every Indian likes to purchase gold ornament and coins at the time of Diwali…
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…