A-TO-Z-IN-BANKING-BY-D2G

A-TO-Z-IN-BANKING-BY-D2G - Dear Friends We are happy to...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Dear Friends, We are happy to announce that our Android APP has reached 10,000 Downloads in Google Playstore. Thanks for your support. Make Your Preparation easier with our Free Android APP. Study Anytime & Anywhere. Join DayTodayGK’s Official Facebook Page at www.facebook.com/DayTodayGK Join our WhatsApp Group by sending a message via Whatsapp to +91962998756
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
A TO Z IN BANKING BY D2G INDEX S.NO Title P. No 1. Banking in India 2. Structure of Indian banking 3. Bank Nationalization 4. Department of Banking Operations and Development: 5. Annual Monetary and Credit Policy 6. Constitution of the Financial Sector Legislative Reforms Commission 7. Financial Infrastructure 8. Deposit Insurance and Credit Guarantee Corporation of India 9. Banking Federations and Associations in India 10. Banking Federations and Associations Worldwide 11. History of Indian Banking System 12. Classification of Banking Industry in India 13. Reserve Bank of India 14. Indian Scheduled Commercial Banks 15. Types of banks 16. Highlights of the Economic Survey 2015-2016 17. Important banking terms 18. Recent Banking News 19. Banking terms Abbreviations 20. Public Sector Bank: Slogan Head Quarters/Office, CMDs, CEO 2 | P a g e WWW.DayTodayGK.com
Image of page 2
A TO Z IN BANKING BY D2G BANKING IN INDIA Banking in India originated in the last decades of the 18th century. The first Banks were The General Bank of India , which started in 1786, and Bank of Hindustan , which started in 1790; both are now defunct. The oldest bank inexistence in India is the State Bank of India , which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank 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. The three banks merged in 1921 to form the Imperial Bank of India , which, upon India's independence became the State Bank of India in 1955 . STRUCTURE OF INDIAN BANKING As per Section 5(b)of the Banking Regulation Act 1949 : “Banking” means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise.” All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are scheduled banks. These banks comprise Scheduled Commercial Banks and Scheduled Cooperative Banks. Scheduled Commercial Banks in India are categorised into five different groups according to their ownership and / or nature of operation. These bank groups are: 1. State Bank of India and its Associates, 2. Nationalized Banks, 3. Regional Rural Banks, 4. Foreign Banks and 5. Other Indian Scheduled Commercial Banks (in the private sector).
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.