AN OVERVIEW OF THE BANKING SECTOR SECTION – I: BANKING SYSTEM IN INDIA

Jun 29th, 2015
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A bank is a financial institution that provides banking and other financial services to their customers. A bank is generally understood as an institution which provides fundamental banking services such as accepting deposits and providing loans.

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CHAPTER 1AN OVERVIEW OF THE BANKING SECTORSECTION I: BANKING SYSTEM IN INDIA1.1 Introduction [1] [2]A bank is a financial institution that provides banking and other financial services to theircustomers. A bank is generally understood as an institution which provides fundamentalbanking services such as accepting deposits and providing loans. There are also nonbanking institutions that provide certain banking services without meeting the legaldefinition of a bank. Banks are a subset of the financial services industry.A banking system also referred as a system provided by the bank which offers cashmanagement services for customers, reporting the transactions of their accounts andportfolios, through out the day. The banking system in India, should not only be hasslefree but it should be able to meet the new challenges posed by the technology and anyother external and internal factors. For the past three decades, Indias banking system hasseveral outstanding achievements to its credit. The Banks are the main participants of thefinancial system in India. The Banking sector offers several facilities and opportunities totheir customers. All the banks safeguards the money and valuables and provide loans,credit, and payment services, such as checking accounts, money orders, and cashierscheques. The banks also offer investment and insurance products. As a variety of modelsfor cooperation and integration among finance industries have emerged, some of thetradi

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