Banking is inculcating saving habit, mobilising resources from public for lending to needy sections of  the society for Economic & Social Developmen

i.   To inculcate & encourage saving habit among the public.  Saving from their earnings for the future

ii.  To mobilise the savings from public by offering reasonable return to encourage them ( keeping in mind cost of deposits, inflation etc.). This will be very helpful for Poor,MiddleClass and Senior Citizen.

iii.  Also from the customer's angle, their hard earned money is saved for the Future Exigency, the Amount so Deposited earns return ( as Interest) and the money is safe, secured and has liquidity.

iv.  Public can withdraw their savings at their will for their purpose.

v.  To channelise the savings mobilised to Finance the needs of Manufacture, Trade, Business, Agriculture,Education, Housing, Health Care etc. to needySections of Society.

vi.  When Banks lend  for productive purpose ( not for speculative purpose) it generate Employment, it develops Economic Growth and above all Empower the underprivileged & Downtrodden.

                                                                    """Social banking in India:''''''

In 1970, our former PM Indira Gandhi, by Nationalising the Banks in India has ignited Social Banking. ie., from class Banking to Mass Banking.  Prior to Nationalisation, banks were Privileged & Exposed to a particular Section of Society and Public could not Access their Service.
Since 1970, post Nationalisation of Banks, Economy has Witnessed lot of changes in Banking.  Indian Banks Financed liberally to Poor & weaker sections ( particularly from rural & villages) to enable them to   undertake Agriculture, farming, handicrafts, small trade, Self Employment etc.  Govt of India continues to Enlarge Social Welfare schemes to ensure that Poverty is Alleviated & Neglected sections of society live with dignity & self respect.
Major Development in banking in India is that poor & common are able to Access banks for their needs, they are able to avail loans at reasonable rates without  insisting for collateral security and their terms & conditions are being regulated by RBI.


Banking is an industry that handles cash, credit and other financial transactions. Banks provide a safe place to store extra cash and credit. They offer savings accounts, certificates of deposit and checking accounts. Banks use these deposits to make loans. These loans include home mortgages, business loans and car loans.

Banking is one of the key drivers of the U.S. economy. Why? It provides the liquidity needed for families and businesses to invest for the future.

Bank loans and credit mean families don't have to save up before going to college or buying a house. Companies can start hiring immediately to build for future demand and expansion.

How It Works""''

Banks are a safe place to deposit excess cash. That's because the Federal Deposit Insurance Corporation insures them. Banks also pay a small percent, the Interest rate, on the deposit.

Banks can turn every one of those saved dollars into ten. They are only required to keep 10 percent of each deposit on hand. That regulation is called the reserve requirement. Banks lend the other 90 percent out. They make money by charging higher Interest rates on their loans than they pay for deposits. 

Types of Banks

The most familiar type of banking is retail banking. This kind of bank provides money services to individuals and families. Online banks operate over the internet. There are some online-only banks, such as ING and HSBC.

Most other banks now offer online services. Savings and loans target mortgages. Credit unions provide personalized service but only serve employees of companies or schools.

Commercial banks focus on businesses. Most retail banks also offer commercial banking services. Community banks are smaller than commercial banks.

They concentrate on the local market. They provide more personalized service and build relationships with their customers. 

Investment banking was traditionally provided by small, privately-owned companies. They helped corporations find funding through initial public stock offerings or bonds. They also facilitated mergers and acquisitions. Third, they operated hedge funds for high net-worth individuals. After Lehman Brothers failed in 2008, other investment banks became commercial banks. That allowed them to receive government bailout funds. In return, they must now adhere to the regulations in the Dodd-Frank Wall Street Reform Act.

Shariah banking conforms to the Islamic prohibition against Interest rates. Also, Islamic banks don’t lend to alcohol, tobacco and gambling businesses. Borrowers profit-share with the lender instead of paying Interest. That's why Islamic banks avoided the risky asset classes responsible for the 2008 financial crisis. (Sources: "Sharing in Risk and Reward," Global Finance, June 2007. "Islamic FinanceIs Seeing Spectacular Growth," International Herald Tribune, November 5, 2007.)

Central Banks Are a Special Type of Bank
Banking wouldn't be able to supply liquidity without central banks.

In the United States, that's the Federal Reserve. The Fed manages the money supply banks are allowed to lend. 

The Fed has three primary tools:
The reserve requirement lets a bank lend up to 90 percent of its deposits.
The fed funds rate sets a target for banks' prime Interest rate. That's the rate banks charge their best customers.
The discount window is a way for banks to borrow funds overnight to make sure they meet the reserve requirement.
In recent years, banking has become very complicated. Banks have ventured into sophisticated investment and insurance products. This level of sophistication led to the banking credit crisis of 2007.

How Banking Has Changed
Between 1980 and 2000, the banking business doubled. If you count all the assets and the securities they created, it would be almost as large as the entire U.S. gross domestic product 


Banking in India has played a vital role in empowering rural poor & underprivileged masses to have access, empower them.  But still a long way to go.
Latest development:  Prime Minister's Jan Dhan Yojana- a scheme for inclusive growth by opening banks accounts by each household without much of hastle, and Govt crediting directly the subsidy/ other  benefits to their savings account.  Also Govt provides insurance to those who opened the accounts.  This is a great welfare measure and must continue still social inequality/ injustice is rectified in our society.

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Cabin Crew Career Guide
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Shekhar Gupta
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