Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc. Each one of these initiatives having a huge potential for growth. The bank is forging ahead with cutting edge technology and innovative new banking models, to expand its rural banking base, looking at the vast untapped potential in the hinterland and proposes to cover 100,000 villages in the next two years. At the end March, 2011, the total number of branches was 13,542 while the number of ATMs stood at 20,084 across the country. It is also focusing at the top end of the market, on whole sale banking capabilities to provide India’s growing mid / large corporate with a complete array of products and services.
Scheduled Banking structure in India (As included in the Second schedule of the RBI Act., 1934.) Source : Report on trend and progress of banking in India 2002, RBI, Mumbai 1.1.2. Indian Banking Scenario The banking sector in India, consisting of both domestic and international banks is growing in a rapid speed. In the last few decades many positive changes took place in Indian banking sector. In reality the most attractive side of Indian banking system is its widespread reach, as it is not restricted to only metropolitans or cosmopolitans of India.
These fourteen banks, back then, contained a whooping eighty five per cent of the total bank deposits in our country. 1980, was witness to yet another round of nationalization and six more commercial banks came under the government control. With this huge leap, an enormous ninety one per cent of the banking sector came under direct control of the Indian Government. With this, the number of nationalized banks in India rose to twenty. Sometime later, in the year 1993, the government took yet another stride towards economic prosperity and made a turn towards merger of banks.
Commercial Banking The World of banking is changing rapidly and the days of high street branch and local branch manager are passing. Telephone banking, PC access to accounts and other banking services are playing vital role in this contemporary world. The fact that banking figures are important and they are readily available in a large number of countries has not meant that banking conditions as between different countries could be readily compared. In each country, those figures which are available represent samples covering predominantly the larger banks in the larger cities. And here we talk about the Commercial banks which have a greater capacity for varying the aggregate volume of credit than other financial intermediaries.
In Asia and pacific about nine out of development banks are owned by governments. Types of development banks There are four general types of development banks:- 1. Commercially-oriented development banks: They support development through commercial banking services as in Singapore. 2. Policy banks: They directly support the economic plans and directives of national governments.
5.0 THE EMERGENCE OF ISLAMIC FINANCE AND BANKING IN MALAYSIA (80S) Islamic banking emerged in the 1980s was a Bank Islam. Islamic Bank is the first Islamic bank established in Malaysia. Bank Islam Malaysia Berhad was established on 1 July 1983 under Companies Act 1965. Since establishment, it has become a symbol of Islamic banking in Malaysia and its vision of a "Global Leader in Islamic banking" describes the Bank's status as a leader in the financial services industry in the country ("industry"). The existence of Islamic Banking Act 1983 (IBA), which came into force on 7 April 1983 is the legal basis for the existence of the first Islamic bank in Malaysia.
They function like a huge multinational corporation, having multiple arms or segments including bancassurance, investment and advisory services, wealth management services and the likes other than the traditional banking service. Large banks provide commoditized products with ease of access to their customers, through their wide network of
This would guarantee that India has three to five banks, each with sizeable worldwide presence these huge banks would offer a full-scope of commercial banking business to corporate, small and medium enterprises (SMEs), retail, mass banking and worldwide clients. The rest of the banks could proceed under government proprietorship, however shun loaning to large
The term 'bank' was very loosely used by many societies in the initial phase. Many urban banks which were organised in the early part of this century were essentially credit societies but later converted themselves into UCBs. Many urban credit societies which were not engaged in any banking functions also used the word 'bank' or 'banker'. There was no well-defined concept of urban cooperative bank. It was the Joint Reorganisation Committee popularly known as Mehta Bhansali Committee (1939) in the then Bombay province, which, for the first time, made an attempt to define an urban cooperative bank.
They finance small borrowers in industrial and trade sectors besides professional and salary classes. Regulated by the Reserve Bank of India, they are governed by the Banking Regulations Act 1949 and banking laws (co-operative societies) act, 1965. The co-operative banking structure in India is divided into following 5 categories: Primary Co-operative Credit Society The primary co-operative credit society is an association of borrowers and non-borrowers residing in a particular locality. The funds of the society are derived from the share capital and deposits of members and loans from central co-operative banks. The borrowing powers of the members as well as of the society are fixed.