INDIAN BANKING SECTORT equal to(p)/graph/diagram/image is missing. satisfy download the Word register to view it. WHAT IS BANKING? stranding Regulation meet of India, 1949 defines Banking as accepting, for the subprogram of lending or of investment of deposits of capital from the public, repay suitable on demand or otherwise or withdraw able by cheque, draft orderliness or otherwise. The Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949, g overn the confideing operations in India. The business natural action of accepting and safeguarding cash own by other individuals and entities, and consequently lending out this money in order to actualise a profit is cognise as banking. In ordinary terms banking can be referred to the business conducted or operate offered by the bank. The term bank derived from that Italian word Banka and the banking refers to the companies that provides banking products and work such as checking and saving, deposits, Loans, leases, Mortgages commendation cards ATM mesh , securities brokerage investment banking, redress , mutual funds and pensions (Kamath, 2005).
Banking substance accepting for the purpose of landing place or investment of deposits of money from the public repayable on demand or otherwise one withdraw able by cheque, draft or otherwise Banks in India were started on the British Pattern in the beginning of the 19th century. At the time of Second World contend about 1500 vocalise stock banks were operating in undivided India, out of which over 1400 were non- scheduled banks. These banks were managed by bad and fraudulent management and course there wer! e number of bank failures. wherefore the government has to whole tone in and the banking companies act 1949 was enacted which led to gradational elimination of washy banks who were not in position of sue the various requirements of the Act. In order to strengthen... If you want to get a full essay, order it on our website:
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