ACCOUNTING…COST

MEMBERS•RAVI SINGH•AKSHAY SURVE

•PRATIK SINGH•POOJA SINGH

•YASHASHRI SURVE

BANK

introduction

1. Definition- Under English common law, a banker is defined as a person who carries on the business of banking on behalf of any person.

2. Origin-

3. History -

1)Mesopotamia2)Egypt3)India4)China5)Greece6)Rome

Forms of banking -

The traditional banking functions of accepting deposits, money lending, money changing, and transferring funds were combined with the issuance of bank debt that served as a substitute for gold and silver coins.

Banking during 16th and the 17th century

The sealing of the Bank of England Charter (1694)

In 1694 led to the establishment of the Bank of England. The Bank of England succeeded in raising money for the government at relatively low rates.

In 18th-century London the Bank of England had a monopoly over corporate banking, and even large partnerships were prohibited. But private banks, though relatively small, personal enterprises, continued to find profitable business in discounting merchants' bills. In the latter half of the century small banks in country towns grew rapidly in number and needed "correspondent" banks in London with which they could deposit and invest funds. The London banks in turn settled accounts in Bank of England notes, and by the end of the century many kept their own deposit accounts with the Bank of England. A structure that led to the development of the concept of a central bank.

Development of central banking

In the nineteenth century, spurred at first by financing required for the Napoleonic wars and then by the explosion of railroads in Europe, banks evolved into large commercial entities, lending to the public, and often publicly traded. Jews were founders and leaders of many of the important early European banks, as well as significant banks in the United States. Several Jewish bankers became extremely influential, successfully competing with non-Jewish banking houses in the floating of government loans.

19th century

1930s Great Depression

Crowd at New York's American Union Bank during a bank run early in the Great Depression.

1980s deregulation and globalisation

Bishopsgate in the City of London

Globalisation:-In the late 18th century there was a massive

growth in the banking industry. Banks played a key role in moving from gold and silver based coinage to paper money, redeemable against the bank's holdings. Within the new system of ownership and investment, the state's role as an economic factor grew substantially.

20th century:-The first decade of the 20th century saw the

Panic of 1907 in the US, which led to numerous runs on banks and became known as the bankers panic.

21st century The banking industry is undergoing a rapid transformation world wide propelled by two major factors: global convergence and information technology. The power of information technology is driving the banking industry as never before, leading to faster, better and cheaper banking services. The banking sector considers no boundary in the present economic scenario. ‘Universal Banking’ has become a common phenomenon in the present economic environment.In the wake of the liberalization policies, the traditional and conservative face of Indian banking has undergone a significant change. The Indian banking industry is undergoing a paradigm shift in scope, context, structure, functions and governance. The information and communication technology revolution is radically changing the operational environment of the banks. “Technology driven” products have now become very common in the present banking arena.     

NO.

Banking Services

1. Automated Teller Machine (ATM)

2. Tele Banking

3. Electronic Funds Transfer (EFT)

4. ATM Card

5. Credit Card

6. Debit Card

7. Point of Sale (POS) Terminal

8. Demat Accounts

9. Online Banking

10.

Clearing House Automated Payment System (CHAPS)

11.

Electronic Data Interchange

12.

Society for World Wide Inter-banking Fast Transfers (SWIFT)

Modern Age Banking Services NO.

Banking Services

13 Digital Payment System (DPS)

14 Cyber Cash

15 Shared Payment Network System (SPNS)

16 E-cheques

17 Real Time Gross Settlement (RTGS)

Rank

Bank Country

Assets ($b)

Date

1. BNP Paribas France 2,792.10 30/06/2011

2. HSBC Holdings UK 2,690.90 30/06/2011

LEADING BANKS.

Rank Bank Number of Branches

No. of Employees

Total Income (MN)

Net Profit (Rs Mn)

1. State Bank of India

9143 198774 431836

44067

2. ICICI Bank Limited

557 25479 187676

25401

India:-

WORLD :-

Counting other's money, keeping its record, en-cashing cheques and drafts cannot be an interesting work, someone may say cyni cally. There cannot be personal involvement and originality in doing such a work, others may think. They may consider bank employees to be computers, adding and subtracting all the time. But this is decidedly a better career.

CONCLUSION

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