Thangamani: STATE BANK OF INDIA

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.

Jeevitha: RESERVE BANK OF INDIA

Jeevitha: RESERVE BANK OF INDIA: The   Reserve Bank of India   (RBI is 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

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 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.

COOPERATIVE BANKING

INTRODUCTION

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. 

HISTORY

The bank was formed in 1872 as the Loan and Deposit Department of the Co-operative Wholesale Society, becoming the CWS Bank four years later. However, the bank did not become a registered company until 1971. In 1975, the bank became the first new member of the Committee of London Clearing Banks for 40 years and thus able to issue its own cheques

ROLE OF CO-OPERATIVE BANKING IN INDIA:

Co-operative Banks are much more important in India than anywhere else in the world. The distinctive character of this bank is service at a lower cost and service without exploitation. It has gained its importance by the role assigned to them, the expectations they are supposed to fulfill, their number, and the number of offices they operate. Co-operative banks role in rural financing continues to be important day by day, and their business in the urban areas also has increased phenomenally in recent years mainly due to the sharp increase in the number of primary co-operative banks.

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

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.

Jeevitha: COMMERCE

Jeevitha: COMMERCE: Introduction Commerce   is the activity of buying and selling of goods and services, especially on a large scale.   The system includes...

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.

Water Transport: Kinds, Advantages and Disadvantages of Water Transport

Water transport is the cheapest and the oldest mode of transport. It operates on a natural track and hence does not require huge capital investment in the construction and maintenance of its track except in case of canals. The cost of operation of water transport is also very less. It has the largest carrying capacity and is most suitable for carrying bulky goods over long distances. It has played a very significant role in bringing different parts of the world closer and is indispensable to foreign trade.

Kinds of Water Transport:

Water transport consists of:

(i) Inland water transport

(ii) Ocean-transport

Inland Water Transport:

As shown in the chart, inland water transport consists of transport by rivers, canals and lakes.

Rivers:

Rivers are a natural waterway which can be used as a means of transport. They are suitable for small boats as well as big barrages. River transport played a very important role prior to the development of modern means of land transport. Their importance has gradually declined on account of more reliable and cheaper transport services offered by the railways.

Canals:

They are artificial waterways made for the purpose of irrigation or navigation or both. Canal transport requires a huge amount of capital investment in construction and maintenance of its track i.e., the artificial waterways. The cost of the canal transport is, therefore, higher than that of river transport. To add to it, the cost of providing water for the canals is also a very big problem of canal transport.

Lakes:

Lakes can be either natural like rivers or artificial like canals.

Advantages:

1. Low Cost:

Rivers are a natural highway which does not require any cost of construction and maintenance. Even the cost of construction and maintenance of canals is much less or they are used, not only for transport purposes but also for irrigation, etc. Moreover, the cost of operation of the inland water transport is very low. Thus, it is the cheapest mode of transport for carrying goods from one place to another.

2. Larger Capacity:

It can carry much larger quantities of heavy and bulky goods such as coal, and, timber etc.

3. Flexible Service:

It provides much more flexible service than railways and can be adjusted to individual requirements.

4. Safety:

The risks of accidents and breakdowns, in this form of transport, are minimum as compared to any other form of transport.

Disadvantages:

1. Slow:

Speed of Inland water transport is very slow and therefore this mode of transport is unsuitable where time is an important factor.

2. Limited Area of Operation:

It can be used only in a limited area which is served by deep canals and rivers.

3. Seasonal Character:

Rivers and canals cannot be operated for transportation throughout the year as water may freeze during winter or water level may go very much down during summer.

4. Unreliable:

The inland water transport by rivers is unreliable. Sometimes the river changes its course which causes dislocation in the normal route of the trade.

5. Unsuitable for Small Business:

Inland water transport by rivers and canals is not suitable for small traders, as it takes normally a longer time to carry goods from one place to another through this form of transport.

Ocean transport:

Ocean transport is indispensable for foreign trade. It has brought the different parts of the world closer and has knitted together all the nations of the world into one big world market. It operates on a natural track, i.e., the sea and does not require any investment in the construction and maintenance of its track. It is, obviously, the cheapest mode of transport.

Ocean transport includes:

1. Coastal Shipping

2. Overseas Shipping

1. Coastal Shipping:

It is one of the most important means of transport for carrying goods from one part to another in a country. It is a cheaper and quicker mode of transport and is most suitable for carrying heavy, bulky and cheap traffic like coal, iron ore, etc. to distant places. But it can serve only limited areas. Earlier, coastal shipping in India was mainly in the hands of foreign shipping companies. But now from 1951 onwards, it is exclusively reserved for Indian ships.

2. Overseas Shipping:

There are three types of vessels employed in the overseas shipping:

(i) Liners,

(ii) Tramps,

(iii) Tankers.

(i) Liners:

Liners are the ships which have regular fixed routes, time and charges. They are, usually, a collection of vessels under one ownership, i.e., a fleet. They provide a uniform and regular service. Liners sail on scheduled dates and time, whether full of cargo or not.

(ii) Tramps:

Tramps are ships which have no fixed routes. They have no set rules or rate schedule. Usually, they do not sail till they have full cargo. They can be chartered by exporters and are ready to sail anywhere and at any time. They are not as fast in speed as liners. Tramps are more suitable to carry seasonal and bulky goods.

(iii) Tankers:

Tankers are the vessels which are specially designed to carry oil, petrol and such other liquids. They have a large capacity, 2 to 3 lakh tons of oil, and very shortly, we may have super tankers with a capacity of about 10 lakh tons of oil.

Advantages:

1. It operates on a natural track as sea provides a readymade ‘road bed’ for the ships to sail. Hence, it does not require huge amount of capital investment in the construction and maintenance of its track.

2. Due to the smooth surface of sea, comparatively less tractive power is required for its operation which results in a lesser cost of operation. Thus, it is the cheapest mode of transport.

3. It has the largest carrying capacity as compared to any other transport.

4. The risk of damage in transit of the goods is also less as compared to other modes of transport. But the goods are exposed to the ‘perils of sea’.

5. It is the only suitable mode of transport for carrying heavy and bulky goods to distant places.

6. It is indispensable to foreign trade.

Water

Water is a commen need for every living thing