restricted to deposits and loans. They had surplus money, which take deposits from people and needed money to invest, which began by borrowing this money to borrowers. They are charged interest from borrowers and depositors have given. Deposit and lending interest rate difference between the major source of revenue for the banks were formed. Banking, lending or borrowing to invest, to provide services for those who have a service industry. To
Bank is an institution that deals in money and its substitutes and provides crucial financial services. The principal type of banking in the modern industrial world is commercial banking & central banking. Banking Means "Accepting Deposits for the purpose of lending or Investment of deposits of money from the public, repayable on demand or otherwise and withdraw by cheque, draft or otherwise." -Banking Companies (Regulation) Act,1949 The concise oxford dictionary has defined a bank as "Establishment
Introduction The modern business atmosphere has modified drastically in a very short time. Business technology has advanced business functions and operations to levels not antecedently believed doable. The role of accounting and business is probably one among the foremost reliable functions in business. Whereas a couple of basic procedures or strategies have modified, the aim of accounting remains a similar. Business homeowners usually use accounting to live their company money performance and build
important attributes. The first is that money serves as a unit of account. this means prices are measured in terms of money. For example, a 10.500 KD label on a shirt shows that money is a unit of account or an individual's stated salary of 1000 KD in a bank statement of account. The second attribute is that money serves as a medium of exchange. This means that money should be accepted as means of payment. When we buy any good (or service) we pay with money, and we are sure that the money will be accepted
calling for the establishment of an Islamic bank in Malaysia. For example, in 1980, the Bumiputera Economic Congress had proposed to the Malaysian Government to allow the setting up of an Islamic bank in the country. Another effort
OBJECTIVES OF CO-OPERTIVE BANK • To introduce people to join it as members and shareholders with a minimum efforts. • To encourage them to save money and deposit into their own bank. • To enable the people themselves to create efficient management of their bank. TYPES OF CO-OPERATIVES • Housing Co-operatives • Building Co-operatives • Retailers Co-operatives • Utility Co-operatives • Social Co-operatives • Consumers Co-operatives • Co-operative Banking • Agricultural Co-operatives • Co-operative
• Dealing with Credit: The banks are the institutions that can create credit i.e., creation of additional money for lending. Thus, “creation of credit” is the unique feature of banking. • Commercial in Nature: Since all the banking functions are carried on with the aim of making profit, it is regarded as a commercial institution. • Nature of Agent: Besides the basic functions of accepting deposits and lending money as loans, banks possess the character of an agent because of its various agency
During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No.23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking
ABSTRACT In a country like India where 70 percent of its population lives in rural area and 60 percent depend on agriculture (according to the World Bank reports), micro-finance can play a vital role in providing financial services to the poor and low income individuals. Microfinance is the form of a broad range of financial services such as deposits, loans, payment services, money transfers, insurance, savings, micro-credit etc. to the poor and low income individuals. The importance of micro-finance
Corporate governance is a structural branch through which banks set a range of targets and means by which they monitor the performance. Effective corporate governance encourages the bank to operate safely and use resources efficiently. Corporate governance relates to how the banking business is governed: it consists of a series of relationships between management, board, shareholders and stakeholders. Lenders and other providers of funds are more willing to provide funding when they feel safe on