INTRODUCTION
Banking- In general terms, the business activity of accepting and safeguarding money owned by other individuals and entities, and then sending out this money in order to earn a profit is known as banking, there are various types of banking in India ]. in every field banking and finance plays an important role. banking is the security, convenience, saving, and investing.
ROLE OF BANKING AND FINANCE IN THE FUTURE
Finanace and banking sector are the order of these days. Banking and financing result in development of even the remotest are od our country. These two related area have to look forward a lot for countries future welfare. The strength of our economy lies in the hands of banking and financing.
Banking and financing helps to boost up or economy from major problems. Thus it will result in entering more banking and financing companies in the coming years.Even after 20 years of marketing liberalization,the access of banking and financing into indian marketing sector is 35% and majority of them are urban areas.Now all the firms are trying to spread there own banking and financing companies all over the country.The Indian financing and banking sector needs at least 1.2 millions of people at the end of 2010.At the same time now the available workforce are around 1 million.Now there have a vacancy of two lacs of qualified persons.
In addition to that,about 5 lacks of employees are going to retire within 5 years.This will result in increasing the job vacancies of employees to estimate of 7 lacks 2013-2014.As we all know that MBA professionals are now days demanding a lot. All the practical, conceptual and operative aspects of banking are encompassed by MBA. It bridges the knowledge gap recent development in banking and financing industry . This help employee to grow towards their full potential.
At the present India consists of commercial banks, public sectors banks, private banks, foreign banks, rural banks and urban co-operative banks. These are the banks which boosts up Indian financial position. There are so many other non- banking financial companies also. All these banking and non banking company comes under control of the Reserve Bank of India . So many changes had undergone to banking sectors in india all across our world. The development in banking sector is certified to the varying business situations and finance around our world. It helps in effective banking which affects international banking as well. A standard change have been found in banking sector on organizational terms and growing economy needs more new strategies for the purpose of valuable function of the banking sector
CONCLUSION
Bank provides security and convenience for managing your money and sometimes allow you to make money by earning interest.
All banks have rules about how long it takes to access your deposits, how many debit land transactions, you are allowed is a day, and how much cash you can withdrawn from a ATM.
Debit card provides easy access to the cash in your a/c but can cause you to rack up fee if you are not careful.
To protect your money from electronic theft identity theft, and other forms of fraud, its important to implement basic precautions such as shredding account statement, having complex password and only doing online banking through secure internet connections.
Submitted to Mr. Gurdepak Singh
by Geetika Mittal MBA semester1 section A
Banking- In general terms, the business activity of accepting and safeguarding money owned by other individuals and entities, and then sending out this money in order to earn a profit is known as banking, there are various types of banking in India ]. in every field banking and finance plays an important role. banking is the security, convenience, saving, and investing.
ROLE OF BANKING AND FINANCE IN THE FUTURE
Finanace and banking sector are the order of these days. Banking and financing result in development of even the remotest are od our country. These two related area have to look forward a lot for countries future welfare. The strength of our economy lies in the hands of banking and financing.
Banking and financing helps to boost up or economy from major problems. Thus it will result in entering more banking and financing companies in the coming years.Even after 20 years of marketing liberalization,the access of banking and financing into indian marketing sector is 35% and majority of them are urban areas.Now all the firms are trying to spread there own banking and financing companies all over the country.The Indian financing and banking sector needs at least 1.2 millions of people at the end of 2010.At the same time now the available workforce are around 1 million.Now there have a vacancy of two lacs of qualified persons.
In addition to that,about 5 lacks of employees are going to retire within 5 years.This will result in increasing the job vacancies of employees to estimate of 7 lacks 2013-2014.As we all know that MBA professionals are now days demanding a lot. All the practical, conceptual and operative aspects of banking are encompassed by MBA. It bridges the knowledge gap recent development in banking and financing industry . This help employee to grow towards their full potential.
At the present India consists of commercial banks, public sectors banks, private banks, foreign banks, rural banks and urban co-operative banks. These are the banks which boosts up Indian financial position. There are so many other non- banking financial companies also. All these banking and non banking company comes under control of the Reserve Bank of India . So many changes had undergone to banking sectors in india all across our world. The development in banking sector is certified to the varying business situations and finance around our world. It helps in effective banking which affects international banking as well. A standard change have been found in banking sector on organizational terms and growing economy needs more new strategies for the purpose of valuable function of the banking sector
CONCLUSION
Bank provides security and convenience for managing your money and sometimes allow you to make money by earning interest.
All banks have rules about how long it takes to access your deposits, how many debit land transactions, you are allowed is a day, and how much cash you can withdrawn from a ATM.
Debit card provides easy access to the cash in your a/c but can cause you to rack up fee if you are not careful.
To protect your money from electronic theft identity theft, and other forms of fraud, its important to implement basic precautions such as shredding account statement, having complex password and only doing online banking through secure internet connections.
Submitted to Mr. Gurdepak Singh
by Geetika Mittal MBA semester1 section A
