STATE BANK OF INDIA
The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921.
The State Bank of India was born with a new sense of social purpose aided by the 480 offices comprising branches, sub offices and three Local Head Offices inherited from the Imperial Bank. The concept of banking as mere repositories of the community's savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking subserving the growing and diversified financial needs of planned economic development. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the exciting field of national development.
Following are the products and services od State Bank of India:
1. Personal Banking: State Bank of India offers a wide range of services in the Personal Banking Segment which are indexed here.:-
SBI Term Deposits
SBI Loan For Pensioners
SBI Recurring Deposits
Loan Against Mortgage Of Property
SBI Housing Loan
Loan Against Shares & Debentures
SBI Car Loan
Rent Plus Scheme
SBI Educational Loan
Medi-Plus Scheme
SBI Personal Loan
Rates Of Interest
2. Agriculture/rural : State Bank of India Caters to the needs of agriculturists and landless agricultural laborers through a network of 6600 rural and semi-urban branches. There are 972 specialized branches which have been set up in different parts of the country exclusively for the development of agriculture through credit deployment. These branches include 427 Agricultural Development Branches (ADBs) and 547 branches with Development Banking Department (DBDs) which cater to agriculturists and 2 Agricultural Business Branches at Chennai and Hyderabad catering to the needs of hi-tech commercial agricultural projects.
Following are the plans for rural people:
• CROP LOAN (ACC)
• PRODUCE MARKETING LOAN SCHEME
• LOAN AGAINST WAREHOUSE RECEIPTS / COLD STORAGE RECEIPTS
• KISAN CREDIT CARD SCHEME (KCC)
• AGRICULTURAL TERM LOANS (ATL)
• LAND DEVELOPMENT SCHEMES
This paper will argue that the failure to renew the First Bank of the United State’s charter was a direct result of the strong ideological differences between state centered and federalist politics. Many were very skeptical about a strong centralized banking system, while others believed that the only way to create unity in the country was through a highly focused central banking system. Despite the relative efficiency of the First Bank of the United States, and despite the fact that it is widely considered to be a success by economic historians, the general suspicion of banking led to its demise. In other words, this paper will argue that the 1800-1810 period was one of exhaustive tension between centralists and de-centralists. This had important and lasting effects on the banking system, the most obvious being that, in the following century, state banks proliferated to the point where they were chartered with abandon. As John K. Galbraith noted, “every location large enough to have a church, a tavern, or a blacksmith shop was deemed a suitable place for setting up a bank. These banks issued notes, and other, more surprising enterprises, imitating the banks, did likewise. Even barbers and bartenders competed with banks in this respect” (Flaherty, 1997: http://odur.let...
The Bank of the United States is a symbol of the long held American fear of centralization and government control. The bank was an attempt to bring some stability and control and was successful at doing this. However, both times the bank was chartered, forces within the economy ultimately destroyed it. The fear of centralization and control was ultimately detrimental to the U.S. economy.
HSBC has been operating in the United States since 1875 when it first opened an agency in San Francisco.
5. Presence of central bank: The Reserve Bank of India has been vested with wide powers of control over different institutions in the money market. The indigenous banking has, however, remained outside the sphere of RBI’s direct control. The rates of interest in the unorganized sector are, therefore, substantially higher than those in the organized sector. The Central Bank controls money supply of the country as per needs of the economy. The other member banks can borrow from The Central Bank during emergency. Thus, a powerful Central Bank controls, regulates and guides the money
Askari Bank’s Organizational Design is bureaucratic because it is principally owned by the army and its working methods are directed by the board members of the bank.
Made in India: This system is customised and tailor fit for Indian needs. It has specifically been designed, keeping the Indian customer and banking needs in mind.
Indian banking and financial services industry is strong and robust among the world economies. Over the previous years, financial markets have witnessed a significant deepening and broadening of services with the introduction of new instruments and products in banking, capital markets space and insurance.
Bank of Baroda is one of the premiere banks in India that offers at competitive interest rates. These loans can be paid back through easy Equated Monthly Instalments (EMIs) over a period of time. The Bank of Baroda personal loan can be used by the customer to fund medical treatments, education expenses, weddings, travelling and other unexpected expenses.
NBB can expand and reach other countries in the GCC market not only operate in Bahrain, Riyadh and Abu Dhabi, and this expansion can increase the profits of the banks; and later they can expand globally. While SCB has the opportunity of expend globally in countries across the world, and even within one country such as Bahrain it can increase the branches to be easy to reach. In Africa, it can Agri wallet penetration as it is small and currently under cultivated and the opportunity for growth is good. Also has the opportunity to Merger with other firms and acquisite smaller institution and makes them operate under the name of
In the post-colonial context , there is a desire to change the current currency system to improve the management of money and credit ; and to foster a favorable climate for the development of domestic enterprises in which the World Bank proposed the establishment of the National bank of each country . A National bank is seen as a tool of control of financial freedom , which no political independence would not be complete . Therefore, Sir Sydney Caine , former Vice Chancellor of University of Malaya , and Mr. GM Watson , an executive of the Bank of England , has been appointed to carry out a detailed investigation on problems of central banking and to provide advice on the establishment of a center in Malaya , including law rules.
The banking industry in Malaysia consists of only eight commercial banks (Bank Negara Malaysia, 2013), and Public Bank Berhad is ranked third out of all in respect of size of assets, capitalization, and public’s choice (People's Choice for Best Banking Experience, 2013). This business has managed to broaden its wings across Asia after just a few years since its establishment (Teo, 2012). Despite the triumph it has acquired, there is always room for improvement. There are few analyses carried out – Management Analysis, HRM Analysis, and Leadership Analysis – in order to understand the business better. Thus, recommendations of related matters would be made upon the completion of these analyses.
He found that, while the state has experienced a steady growth in the supply of formal sector credit over the 1980s, the level of disbursement has remained lower as compared to the all India level and also low in relation to the demand for rural credit in the state. In the 1990s, there was a sharp decline in the volume of credit disbursement by commercial banks in the rural West Bengal; however, village level survey showed a substantial increase in the disbursement through cooperative society during the same period and emergence of agricultural traders as a main source of credit for operational expenses of cultivation. The author has revealed that the process of land reform and with the distribution of land and the registration of bargadarsa, has made a large number of cultivators formally credit-worthy and eligible for cultivation loans; and the involvement of panchayats in the process of formal lending has made substantial progress in the recovery of loans
The nationalization of banks, priority sector lending necessities for banks, cooperative banks, lead bank scheme, establishment of Regional rural banks (RRBs), self-help group-bank etc.The Reserve Bank of India (RBI) take the step to increase access to the poor segments of society. The Reserve Bank of India has ensure accessible financial services and to increase the speed of financial inclusion to set up a high stage committee on October, 2012. The RBI Deputy Governor to be headed by Financial Inclusion Advisory Committee
It is a known fact that the banking industry plays a huge role in today’s society, the industry has grown rapidly of many decades and still growing. The banking sector is that sector of the society that is actually responsible for the handling of financial assets for other sector of the economy, they do this by investing the financial assets in order to create more wealth in the society while regulating all the activities involved in the process. (What is the banking Sector 2015)
Banks sector is playing an important role in economies. The banking industry, as the classic and the most influential of financial intermediaries, facilitates economic operations. Financial sector in the worldwide country has been changes over these years by looking the changes of financial structure environment and economic conditions. Thus, banks are a very important point to financial system and play an important role as control and contribute growth to the economic sector.