give my identity and the letter of the chairman of our department. He permitted my like begins. He introduced me with the Second Officer‚ Cashier‚ Computer Operator‚ Accounts Officer and other Officers. There I practically observed the Overall Banking and Management system of this institution and I discussed with the different Officers about my internship. They informed me about the overall activities and financial statement of the Bank. 1.2. Concept of internship: Internship is a process
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THE BANKING INDUSTRY AND THE NIGERIAN ECONOMY POST-CONSOLIDATION By B. B. EBONG GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE UNION BANK OF NIGERIA PLC ABSTRACT Against the backdrop of the role of banks as financial intermediaries and their function as the engine of growth of the economy‚ this paper examines the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era. The paper notes that the banking industry
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“PRESENT POSITION AND CHALLENGES OF FDI IN RETAIL BANKING.” Mrs. Priya Saxena Asst. Professor in Management ABSTRACT Retail banking in India has emerged as one of the major drivers of the overall banking industry and has witnessed enormous growth recently. India being a signatory to World Trade Organization’s General Agreement on Trade in Services had to open up the banking sector to foreign investment also. FDI stands for Foreign Direct Investment‚ a component of a country’s national
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Factors influencing the use of Mobile Banking: The case of SMS-based Mobile Banking offered CHAPTER ONE INTRODUCTION Mobile banking is an application of mobile computing which provides customers with the support needed to be able to bank anywhere‚ anytime using a mobile handheld device and a mobile service such as text messaging (SMS). Mobile banking removes space and time limitations from banking activities such as checking account balances‚ or transferring money from one account to another
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Technological Developments in Indian Banking Sector N. Mohan Babu‚ Asst. Professor‚ Vignan Degree and P.G. College‚ Palakaluru Road‚ Guntur – 5. Abstract The origin of Banking in the modern era is traced in Italy. Banking is a business like any other business‚ banking sector place a significant role in development of Indian Economy. So‚ Banks need to have technology to improve their productivity and efficiency‚ to provide faster and better services to the customers. Technology enables the banks
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The impact of e-banking over the personal and business life of a person or institution Introduction: Growth of Electronic banking in a country depends on many factors‚ such as success of internet access‚ new online banking features‚ household growth of internet usage‚ legal and regulatory framework. E-banking can offer speedier‚ quicker and dependable services to the customers for which they may be relatively satisfied than that of manual system of banking. E-banking system not only generates
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Interest Free Banking - Its advantages and disadvantages; and recommendations. Interest free banking is something outrageous‚ if viewed at first instance. Why? Because the very term of interest free banking signifies its true nature and function – banking that dispenses with any usury or interest‚ leaving the debtor at ease and the creditor with no flow of wealth. Zero. None. Free. Nil. No interest whatsoever. The normal workingmen may see this as promising. However‚ is it an absolute white area
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Bank deposit market as part of a banking policy as a whole‚ whose main purpose is to attract the largest possible amount of financial resources at the lowest price‚ assist in the process of obtaining a bank deposit operations profit or create the conditions for a profit in the future‚ also performs several important functions in efficient operation of banks: maintaining the necessary level of liquidity‚ holding a flexible interest rate policy‚ the development of banking services and the quality and culture
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Mergers & Acquisitions : Indian Banking Scenario Source - Banking Events Update (December 2004 issue) The Indian financial system would be open to intense international competition with complete implementation of the provisions of WTO agreement on services (GATS) during the year 2005-06 when banks will be required to compete across the globe with multinational banks having greater financial strengths. The banks will also be required to strengthen their capital position to meet stringent prudential
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FRACTIONAL RESERVE BANKING Fractional reserve banking is a system under which bankers keep as reserves only a fraction of the funds they hold on deposit. This system has three features: • Bank Profitability By getting deposits at zero interest and lending some of them out at positive interest rates‚ goldsmiths made profits. The history of banking as a profitmaking industry was begun and has continued to this date. Banks‚ like other enterprises‚ are in business to earn profits. • Bank Discretion
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