What is PPT in banking?
The “Plunge Protection Team” (PPT) is a colloquial name given to the Working Group on Financial Markets.
What is banking in slide share?
Banking Banking Regulation Act of India, 1949 defines Banking as “accepting, for the purpose of lending or of investment of deposits of money from the public, repayable on demand or otherwise or withdrawable by cheque, draft order or otherwise.” The Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949.
What are the features of Indian banking system?
Some important characteristics of the Indian Banking System Structure are listed below:
- Profit and service-oriented institution.
- Deals with money.
- It could be an Individual or firm or a company.
- Provides Credit/Loans to the customers.
- Acts as an intermediary between lenders and borrowers.
What do you mean by Indian banking system?
The banking system of India consists of the central bank (Reserve Bank of India – RBI), commercial banks, cooperative banks and development banks (development finance institutions). These institutions, which provide a meeting ground for the savers and the investors, form the core of India’s financial sector.
What is the history of banking in India?
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791.
What is the growth rate of banking sector in India?
The growth of financial sector in India at present is nearly 8.5% per year. The rise in the growth rate suggests the growth of the economy. The financial policies and the monetary policies are able to sustain a stable growth rate.
Who is current RBI governor?
Shaktikanta DasReserve Bank of India / Governor
Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.