I. Profile of the company
• It was established in 1806 at Calcutta as bank of Calcutta.
• It is the oldest bank of Indian sub-continent
• State bank of India (SBI), with a 200 year history is the largest commercial bank in India.
• In terms of assets, deposits, profits, branches, customers and employees SBI is largest bank.
• The government of India is the single largest shareholder of this fortune 500 entity with 61.58% ownership
• SBI is ranked 60th in the list of top 1000 banks in the world by “The Banker” in July 2012.
Functions
State Bank of India acts as an agent of reserve bank of India acts as an agent of Reserve Bank of India. And also performs the Following functions:
• Bank borrow the money from public by accepting deposits
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HISTORY OF THE COMPANY
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 1806 in Calcutta. 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.
Primarily Anglo–Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic
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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. It is consolidating its global treasury operations and entering into structured products and derivative instruments. Today, the bank is the largest provider of infrastructure debt and the largest arranger of external commercial borrowings in the country. It is the only Indian bank to feature in the Fortune 500
Over the years, Congress has evolved in response to societal changes, political developments, and the expansion of federal power. Functions of Congress: Congress performs several crucial functions in the American political system. Firstly, it holds the primary responsibility for lawmaking, drafting and passing legislation that shapes the nation's policies. Additionally, Congress acts as the
What are the three activities the Fed undertakes when it acts as a bank for banks? Hint: What are the activities the Fed does for banks that are similar to the activities a bank does for its customers? (3 points) The three activities of the Fed are, holding deposits for the bank, lending money to the bank, clearing checks between banks.
In the era of 1837, was the starting point for the new establishment for banks all over the United State. In the beginning, banks were in the center of importing and exporting and funding paper bills (Foner 365). The banks funded businesses and other industry to trade, buy or sell opening the pathways to overseas. Thus, to a wider range of people who flavored western goods and in return helped western prospered. However, without a proper regulation and restriction of issuing out bills put a downfall in the economy, unbalance system that cause the Panic of 1837 (Foner 366).
The British empire had taken over many colonies, India refused to be one of them. Britain set up trading posts in three cities. One of those cities, the mughal empire collapsed and britain 's posts quickly took control. Britain found that India was very valuable with the resources that they could easily take and use to sell to the high population of India. Britain put the justice and military system into place for India which made an efficient profit for them and made them all in all knowledgeable.
The rule of the British Empire in the Indian subcontinent between 1858 and 1947 greatly affected the net economic status of India. Trade was the sole reason for the British East India company arrival in India, for the Industrial Revolution in Britain led to the increase in demand for raw materials in factories and India served as an efficient platform. However, as their influence started expanding, they created new policies and began to colonize India not only economically, but also socially and politically. Historians continue to debate whether the long-term impact of British rule in India was accelerating the economy or declining it. That being said, my paper is going to be assessing the positive and negative impacts on the Indian economy
The British coming into power also stopped the economic development in India. India as a whole nation was in 100,000,000 dollars on debt.(Fordham). The British gained lots of its wealth and India was in so much debt because of the oppressive taxes the British
The Federal Reserve system is the central bank of all United States. The Fed, as it is commonly known, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, DC, the Board of Governors and 12 regional Federal Reserve Banks in major cities throughout the United States. (Staff, I., 2016) Their job is to make sure the money supplies grows to quickly or to slowly, monetary policy is used to help with the flow.
The Federal Reserve takes the role of the central bank. It serves as the bank’s bank and the government’s bank. It was created by Congress to provide the nation with a safer, more flexible, more stable financial system. Some of its duties are: addressing bank panics, supervise and regulate banks, and protect credit rights.
Compare and contrast Dutch East Indian Company and British Indian Company All societies, states and companies tried to build domination on their weaker neighbors or opponents. The main motivations for building imperialist institutions were generally same. Conquering societies which were danger for them, getting natural resources, being imperially powerful and getting economical power to their hands were the main motivations for societies to establish these institutions. The domination of a country’s or region’s political, cultural, or economic life by one country is called imperialism. (Esler, 2010)
In recent decades, there has been a trend developing in America towards the privatization of America’s prisons. Independent companies have contracted, built and staffed prisons in several different states instead of having the government in control of these facilities. There is still much uncertainty, however, if private prisons will be able to succeed. Some companies have failed while others cling to average revenues. Some people believe that these measures will save taxpayers money while other are afraid that private prisons have no real interest in rehabilitating prisoners.
Bank of England Except the normal function of exchanging foreign currencies and receiving deposits, the bank of England makes loans. The banknote was issued for the returning of lending money to the government. Gradually, the gold and silver coins were substituted by the paper
From 1850 to 1914, industrialized European nations used imperialism to seize colonies, dominate the local governments and economies in Africa and Asia. Their motives were both economical and ideological. In Asia, India was dubbed as the “ Jewel of the Crown”, due to the of the amount of wealth Britain obtained from this region. British East India Company established trading rights during the Mughal empire between Britain and India in the 1600s. The company controlled India without much interference from Britain.
In the 19th century the company still ruled, but the British provided them with an army. They wanted India for its raw materials and was known as the Britishes “jewel in the crown”. From then on, British started setting up rules and regulations for India. The British rule lead an unfair government, poverty to many, millions of deaths, and conflicts with languages. British imperialism had a negative impact on the politics of India because of the unfair ruling/structure for India 's government and the transition between governments.
The Industrial Revolution occurred in Britain during 1760 to 1840, and it lead to new technological and intellectual advances. Inventions and new ideas revolutionised the way tasks were done, but with that, came both positive and negative consequences. The impacts of the Industrial Revolution were more positive than negative, because of the slave trade’s benefits that were gained through commerce and trade, the agricultural changes that allowed the rapid production of food, and the protection and freedom that countries under the growing British Empire were given. The Industrial Revolution did have negative consequences, but the positives outweighed them, and it led to the success of Britain’s growth and development. Commerce and trade were