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Unit I Commercial Banks

Unit I Commercial Banks

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Published by joetrichy
Basic understanding about Indian Banking is important for UG and PG students of Banking and Finance. Unit one (this unit)helps them learn it.
Basic understanding about Indian Banking is important for UG and PG students of Banking and Finance. Unit one (this unit)helps them learn it.

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Published by: joetrichy on Mar 04, 2010
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Dr. D. Joseph AnbarasuBishop Heber College3/4/2010Dr. Joseph Anbarasu
Banking in India
Dr. Joseph Anbarasu
Chapter 1BANKING IN INDIAObjectives of the Unit
After completing the unit, the student should beable toa.Describe the features of Banking RegulationActs b.Make an account of Indian Banking: the Historyand Developmentc.List out the various functions rendered by thecommercial banksd.Manage the various deposits and advancese.Describes the steps in fair lending to the clients
Definition of Banking
The Banking Regulation Act, 1949 is the basis for regulation of banking in India.
Dr. Joseph AnbarasuSection 5(b) of the Act defines banking as“banking” means the accepting, for the purpose of lending or investment, of deposits of money fromthe public, repayable on demand or otherwise, andwithdrawable by cheque, draft, order or otherwise.
Forms of Business in which Banking Companiesmay Engage
Section 6(1) specified additional forms business inwhich banking companies may engage in.Section 6 (1)In additional to the business of banking, a bankingcompany may engage in any one or more of thefollowing forms of business, namely:-Banking Businessa)the borrowing, raising, or taking up of money; b)lending or advancing money either upon owithout security;c)the drawing, making, accepting; discounting, buying, selling collecting and dealing in bills of exchange, hoodies, promissory notes, coupons,drafts, bills of lading, railway receipts, warrants,debentures, certificates, scrip and otheinstruments, and securities whether transferableor negotiable or not;d)granting and issuing of letters of credit,traveller’s cheques and circular notes;e)buying, selling and dealing in bullion andspecie;

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