Evaluation and banking structure in india - M.com 4th sem Notes | Commerce Study Notes

NET/JRF Exam Booster ( Paper I + Paper II )

Evaluation and banking structure in india - M.com 4th sem Notes

Here is Full Notes of Evaluation and banking structure in india under head topic Development Banking in India which is most important topic of Financial Markets and Financial Services m.com 4th sem gndu. Here i have explained the easy way to attempt this topic. Just write down some history event which i have explained below. I have provided all necessary commerce study notes in my www.commerceupdate.in 

Development Banking in India - Evaluation and structure

Evaluation and banking structure in india - In the earlier societies functions of a bank were done by the corresponding institutions dealing with loans and advances. Britishers brought into India the new concept of banking by the start of Bank of England in 1694. In 1708, the bank of England was given the monopoly for the issue of currency notes by an Act. In nineteenth century various banks started operations, which primarily were receiving money on deposits, lending money, transferring money from one place to another and bill discounting
History of Banking developement in India:
Banking in India has a very old origin. It started in the Vedic period where literature shows the giving of loans to others on interest. The interest rates ranged from two to five percent per month. The payment of debt was made pious obligation on the heir of the dead person.

Modern banking in India began with the rise of power of the British. To raise the resources for the attaining the power the East India Company on 2nd June 1806 promoted the Bank of Calcutta.  In the mean while two other banks Bank of Bombay and Bank of Madras were started on 15th April 1840 and 1st July, 1843 respectively.
In 1862 the right to issue the notes was taken away from the presidency banks. The government also withdrew the nominee directors from these banks.
The bank of Bombay collapsed in 1867 and was put under the voluntary liquidation in 1868 and was finally wound up in 1872.
The bank was however able to meet the liability of public in full. A new bank called new Bank of Bombay was started in 1867. 

On 27th January 1921 all the three presidency banks were merged together to form the Imperial Bank by passing the Imperial Bank of India Act, 1920.
The bank did not have the right to issue the notes but had the permission to manage the clearing house and hold Government balances. In 1934, Reserve Bank of India came into being which was made the Central Bank and had power to issue the notes and was also the banker to the Government. T
he Imperial Bank was given right to act as the agent of the Reserve Bank of India and represent the bank where it had no branches.

In 1955 by passing the State Bank of India 1955, the Imperial Bank was taken over and assets were vested in a new bank, the State Bank of India.

Evaluation and banking structure in india 

Evaluation and banking structure in india
This is the Evaluation and banking structure in india. Here you can describe about some banks. just basic information. Just Draw this Structure. its enough for the exam. if you going to writing about all banks it will take much time so write just description in 2 lines only. 

Last year Question paperfinacial market and finacial services sem 4th Exam paper

Thanks you - Like our Facebook and Review -  Like Facebook Page
Share on Google Plus

About commerce edu

Founder of Commerceupdate.in, Master in commerce specialisation in Finance or Business laws, Believing in share the knownledge. If You want any Questions or topic submit request on portal
    Blogger Comment
    Facebook Comment