Functions of Banks

Functions of Banks

• Acceptance of money on deposit from the public.

• Collection of cheques, drafts, bills, hundis, and other instruments (inland and foreign) for their depositors.

• Issue of performance and financial guarantees.

• Provision of remittance facilities by issue of drafts, mail transfers, and telegraphic transfers.

• Provision of facilities of safe custody of deeds and securities and safe deposits vaults.

• Purchase and sale of securities for their constituents.

NATIONALISATION OF BANKS

NATIONALISATION OF BANKS

• First to be nationalised was RBI on January 1, 1949.
• Nationalisation of lmperial Bank of India and its conversion into State Bank of India in July 1955.
• Conversion of 8 major State-associated banks into subsidiary banks of SBI in 1959.
• Nationalisation of 14 other Indian scheduled banks in July 1969.
• Nationalisation of 6 more banks in April 1980.
• New Bank of India merged with Punjab National Bank in 1993.
• IDBI Bank Ltd be a Nationalized bank.
• Bharatiya Mahila Bank, First Bank for Women's got Nationalized in 2013

Types of Banking

Types of Banking

• Para banking - When Bank provide banking services except the general banking facility. 

• Narrow Banking - When banks invest its money in government securities instead investing in market to avoid risk. 

• Overseas Banking - Banks having branches in other countries besides its origin country. Example Bank of Baroda has maximum foreign branches by any indian bank 

• Offshore Banking - Bank which accept currency of all countries. Offshore banks are in those countries which declares them as Heaven Bank Country. Example- Swiss Banks

• Green banking - Promoting environmental-friendly practices and reducing your carbon footprint from your banking activities. 

• Islamic bank - Those Banks which work according to Islamic Laws. Concept originate in Egypt. Islamic bank opens at Cochin in kerala in 2010. 

• Kiosk Banking - When we Deposit or withdraw money from booths , it is called Kiosk banking. 

• Defence Banking - Full banking services made available to all members of the Defence force, including non-uniformed personnel and other civilians. 

• Retail Banking - Retail banking refers to the division of a bank that deals directly with retail customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public. 

• Banking on Wheel - to provide banking services in remote villages which are devoid of banking facilities as part its financial inclusion plan. 

• Wholesale banking-Wholesale banking is the provision of services by banks to organisations such as Mortgage Brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions.

Cricket

Irani Cup

• Karnataka Won Irani cup by defeating Rest of India. 

Ranji Trophy

• Karanataka Won the 8th Ranji Trophy defeating Tamil Nadu.
• Karnataka Caption : Vinay Kumar
• Man of the Match :Karun Nair
• Karnataka won 7th Trophy this time

Capital Currency - Germany

GERMANY

Capital            : Berlin

Currency         : Euro

President         : Joachim Gauck

Chancellor      : Angela Merkel

Language        : German