Thangamani: STATE BANK OF INDIA: INTRODUCTION State Bank of India ( SBI ) is an Indian multinational, public sector banking and financial services company. It...
State Bank of India (SBI) is an Indian multinational, public sector banking andfinancial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of 2014-15, it had assets of₹20.480 trillion (US$300 billion) and more than 14,000 branches, including 191 foreign offices spread across 36 countries, making it the largest banking and financial services company in India by assets. The company is ranked 232nd on the Fortune Global 500 list of the world's biggest corporations as of 2016.
HISTORY
The roots of the State Bank of India lie in the first decade of the 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras(incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of royal charters. These three banks received the exclusive right to issue paper currency till 1861 when, with the Paper Currency Act, the right was taken over by the Government of India. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company but without Government participation.
Saturday 12 November 2016
Sangeetha: COOPERATIVE BANKING
Sangeetha: COOPERATIVE BANKING: Co-operative bank, in a nutshell, provides financial assistance to the people with small means to protect them from the debt trap of the...
Co-operative bank, in a nutshell, provides financial assistance to the people with small means to protect them from the debt trap of the moneylenders. It is a part of vast and powerful structure of co-operative institutions which are engaged in tasks of production, processing, marketing, distribution, servicing and banking in India. A co-operative bank is a financial entity which belongs to its members, who are at the same time the owners and the customers of their bank. Co-operative banks are often created by persons belonging to the same local or professional community or sharing a common interest. These banks generally provide their members with a wide range of banking and financial services (loans, deposits, banking accounts…). Co-operative banks differ from stockholder banks by their organization, their goals, their Values and their governance. The Co-operative Banking System in India is characterized by a relatively comprehensive network to the grass root level. This sector mainly focuses on the local population and micro- banking among middle and low income strata of the society. These banks operate mainly for the benefit of rural areas, particularly the agricultural sector.
The bank markets itself as an ethical bank, and seeks to avoid investing in companies involved in certain elements of the arms trade, fossil fuel extraction,genetic engineering, animal testing and use of sweated labour as stated in its ethical policy. The ethical policy was introduced in 1992 and incorporated into the Bank's constitution in 2013.[3] In 2002, the parent company The Co-operative Group Limited brought the bank and the Co-operative Insurance Society under the control of a newly incorporated holding society, Co-operative Financial Services, which became the Co-operative Banking Group in 2011.
Co-operative bank, in a nutshell, provides financial assistance to the people with small means to protect them from the debt trap of the moneylenders. It is a part of vast and powerful structure of co-operative institutions which are engaged in tasks of production, processing, marketing, distribution, servicing and banking in India. A co-operative bank is a financial entity which belongs to its members, who are at the same time the owners and the customers of their bank. Co-operative banks are often created by persons belonging to the same local or professional community or sharing a common interest. These banks generally provide their members with a wide range of banking and financial services (loans, deposits, banking accounts…). Co-operative banks differ from stockholder banks by their organization, their goals, their Values and their governance. The Co-operative Banking System in India is characterized by a relatively comprehensive network to the grass root level. This sector mainly focuses on the local population and micro- banking among middle and low income strata of the society. These banks operate mainly for the benefit of rural areas, particularly the agricultural sector.
The bank markets itself as an ethical bank, and seeks to avoid investing in companies involved in certain elements of the arms trade, fossil fuel extraction,genetic engineering, animal testing and use of sweated labour as stated in its ethical policy. The ethical policy was introduced in 1992 and incorporated into the Bank's constitution in 2013.[3] In 2002, the parent company The Co-operative Group Limited brought the bank and the Co-operative Insurance Society under the control of a newly incorporated holding society, Co-operative Financial Services, which became the Co-operative Banking Group in 2011.
RESERVE BANK OF INDIA
The Reserve Bank of India (RBI is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935
during the British Rule in accordance with the provisions of the Reserve
Bank of India Act, 1934. The
original share capital was divided into shares of 100 each fully paid, which
were initially owned entirely by private shareholders. Following India's independence on 15
August 1947, the RBI was nationalised on 1 January 1949.
The
RBI plays an important part in the Development Strategy of the Government of India. It is a member bank
of the Asian Clearing Union. The general superintendence
and direction of the RBI is entrusted with the 21-member Central Board of
Directors: the Governor, 4 Deputy Governors, 2Finance Ministry representatives, 10 government-nominated directors to
represent important elements from India's economy, and 4 directors to represent
local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of
these local boards consists of 5 members who represent regional interests, and
the interests of co-operative and indigenous banks.
Thursday 10 November 2016
Thangamani: Money
Thangamani: Money: Introduction Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debt...
Money
Introduction
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
History
The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter. Instead, non-monetary societies operated largely along the principles of gift economy and debt. When barter did in fact occur, it was usually between either complete strangers or potential enemies.
Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley. The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650–600 BC
Money
Introduction
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.
History
The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter. Instead, non-monetary societies operated largely along the principles of gift economy and debt. When barter did in fact occur, it was usually between either complete strangers or potential enemies.
Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley. The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650–600 BC
Sangeetha: Consumer
Sangeetha: Consumer: Introduction A consumer is a person or organization that uses economic services or commodities . In economic systems co...
Consumer
Introduction
A consumer is a person or organization that uses economic services or commodities.
In economic systems consumers are utilities expressed in the decision to trade or not.
Economics and marketing
The consumer is the one who pays to consume goods and services produced. As such, consumers play a vital role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. The consumer also forms part of the chain of distribution.
Recently in marketing instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalized marketing, permission marketing, and mass customization
Objectives
1. To educate consumers, balance consumer needs and degree of protection and to provide relevant consumer rights and entitlements.
2. To advice individual consumers and protect their rights.
3. To ensure prices of goods are fair and appropriate with relevance to its quality and value.
4. To work with the existing laws in order to protect consumer’s interest and general health.
Consumer
Introduction
A consumer is a person or organization that uses economic services or commodities.
In economic systems consumers are utilities expressed in the decision to trade or not.
Economics and marketing
The consumer is the one who pays to consume goods and services produced. As such, consumers play a vital role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. The consumer also forms part of the chain of distribution.
Recently in marketing instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalized marketing, permission marketing, and mass customization
Objectives
1. To educate consumers, balance consumer needs and degree of protection and to provide relevant consumer rights and entitlements.
2. To advice individual consumers and protect their rights.
3. To ensure prices of goods are fair and appropriate with relevance to its quality and value.
4. To work with the existing laws in order to protect consumer’s interest and general health.
COMMERCE
Introduction
Commerce is the activity of buying and selling of goods
and services, especially on a large scale. The
system includes legal, economic, political, social, cultural and technological
systems that are in operation in any country or internationally. Thus, commerce is a system or an environment
that affects the business prospects of economies.It can also be defined as a
component of business which includes all activities, functions involved in
transferring goods from producers to consumers
History
Some
commentators trace the origins of commerce to the very start of communication in prehistoric times. Apart from
traditional self-sufficiency, tradingbecame a principal facility of prehistoric people, who bartered what they had for goods
and services from each other. Historian Peter
Watson and Ramesh Manickam dates the history
of long-distance commerce from circa 150,000 years ago.
In historic times, the introduction
of currency as a standardized money, facilitated a wider
exchange of goods and services. Numismatists have collections of these monetary tokens, which include coins from some Ancient World large-scale societies, although initial usage
involved unmarked lumps of precious metal.
Tuesday 1 November 2016
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