In 1960, the State Banks of India

In 1960, the State Banks of India was given control of eight state-associated banks under the State Bank of India (Subsidiary Banks) Act, 1959. These are now called its associate banks.[5] In 1969 the Indian government nationalised 14 major private banks. In 1980, 6 more private banks were nationalized.[7] These nationalized banks are the majority of lenders in the Indian economy. They dominate the banking sector because of their large size and widespread networks.

Click to see here!

 

Read More

mention usury. Also, during this period

The Vedas (2000-1400 BCE) are earliest Indian texts to mention the concept of usury. The word kusidin is translated as usurer. The Sutras (700-100 BCE) and the Jatakas (600-400 BCE) also mention usury. Also, during this period, texts began to condemn usury. Vasishtha forbade Brahmin and Kshatriya varnas from participating in usury. By 2nd century CE, usury seems to have become more acceptable.[10] The Manusmriti considers usury an acceptable means of acquiring wealth or leading a livelihood.[11] It also considers money lending above a certain rate, different ceiling rates for different caste, a grave sin

Click to see here!

 

Read More

The Indian banking sector is broadly

The Indian banking sector is broadly classified into scheduled banks and non-scheduled banks. The scheduled banks are those which are included under the 2nd Schedule of the Reserve Bank of India Act, 1934. The scheduled banks are further classified into: nationalised banks; State Bank of India and its associates; Regional Rural Banks (RRBs); foreign banks; and other Indian private sector banks.[6] The term commercial banks refers to both scheduled and non-scheduled commercial banks which are regulated under the Banking Regulation Act, 1949.

Click to see here!

 

Read More

The largest bank, and the oldest still in existence

The largest bank, and the oldest still in existence, is the State Bank of India. It originated as the Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks funded by a presidency government, the other two were the Bank of Bombay and the Bank of Madras. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934.

Click to see here!

 

Read More

If the government, the majority stake

"The government is considering our proposed plan to share 3-5% profit with employees on an incentive basis," said Ashwini Mehra, deputy managing director and corporate development officer at SBI. "If we get the approval, it will help draw a talent pool." If the government, the majority stake owner in all state-owned banks, clears the plan, a group of 27 government-owned banks would share 3-5%, or Rs 1,134 to 1,891 crore profits, with lakhs of employees, going by FY15 numbers. Read more at: http://economictimes.indiatimes.com/articleshow/48783312.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Click to see here!

 

Read More

You have between 3-8 years to complete the programme

You have between 3-8 years to complete the programme (or a minimum of 2 years on the Graduate Entry Route). Fees are payable as you progress rather than as a single lump sum. The following are examples of University fees for the whole programme of study: £4,205 for the BSc degree through the Standard Route and £3,175 for the BSc degree through the Graduate Entry Route. Please note that these examples are calculated using current fees for 2015-16, do not reflect any annual change to fees and assume completion in the minimum time permitted.

Click to see here!

 

Read More

The Reserve Bank proposal to move to marginal

The Reserve Bank proposal to move to marginal cost-based pricing could be an interim measure to prepare banks to ultimately move to market related benchmarks to price their deposits and loans. "It is expected that the above steps would also be helpful in the medium term goal of banks pricing their floating rate loans linked to an external benchmark," said the draft guidelines. "Once Financial Benchmarks India Pvt Ltd (FBIL) starts publishing various indices of market interest rates, banks will b .. Read more at: http://economictimes.indiatimes.com/articleshow/48759459.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Click to see here!

 

Read More