...State Bank of India : State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2013, it had assets of US$388 billion and 17,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets. SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout India. SBI has 14,816 branches in India, as on 31 March 2013, of which 9,851 (66%) were in Rural and Semi-urban areas. In the financial year 2012-13, its revenue was INR 200,560 Crores (US$36.9 billion), out of which domestic operations contributed to 95.35% of revenue. Under the Pradhan Mantri Jan Dhan Yojana of financial inclusion launched by Government in August 2014, SBI held 11,300 camps and opened over 30 lakhs accounts by September, which included 21.16 lakh accounts in rural areas and 8.8 lakh accounts in urban areas. Products and services provided by SBI are consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards. Point of Sales Terminal Types: * PSTN * Desktop GPRS * Portable GPRS * Mobile...
Words: 705 - Pages: 3
...Evolution The origins of the State Bank of India can be traced back two hundred years to the establishment of the Bank of Calcutta. The keen interest shown by the directors of the bank in maintaining records found an echo in 1975 when R.K. Talwar, a former chairman of the State Bank, commissioned an account of the bank's evolution from its earliest days. Banking in those days was a far cry from what it is today-an unbiased, uniform system that has led to increased purchasing power across classes. At the time, even though the rupee was the unifying currency, there also existed a confusing array of coinage whose value could vary by the region. Besides the cowrie-sea shells brought in from the Maldives-were the sicca, the Arcot rupee, notes issued by various banks and copper, silver and gold coins that the British tried to introduce as a standard coinage. Only the wealthy Indians and the Europeans had any use for bank notes-for the greater part of the population even the lowly copper coin had a purchasing power beyond their day-to-day needs. Rates of interest, while regulated for the banks to a maximum of 12 per cent, were exorbitant for the peasants, labourers and artisans with 50 per cent being fairly standard. The organizational set-up had its own share of anomalies, with salaries far lower for Indians than Europeans. The highest an Indian could aspire to was the position of khazanchee, a thankless job whose responsibility was equal to that of the secretary and treasurer...
Words: 8300 - Pages: 34
...FAYSAL Bank Introduction: Group Information The DMI group headed by H.R.H. Prince Mohamed Al Faisal Al Saud, is registered in the Bahamas with main offices in Geneva, Switzerland. The DMI group has been the leading contributor to the development of Islamic banking in the world, particularly with regard to promoting new modes of investment compatible with Islamic Shariah. The group’s business comprises of three main sectors - Islamic Banking, Islamic Investment and Islamic Insurance. The DMI group has an extensive network of financial institutions stretching over four continents, with well-integrated regional subsidiaries, enabling it to respond to local business needs and conditions. Based on this geographical structure, the DMI group companies act as a financial bridge between the world’s leading financial centers and the Islamic countries. 1 Board of Directors: H.R.H Prince Mohamed Al Faisal Al Saud Chairman Farook Bengali President & CEO Khalid Abdulla Janahi Director Dr. Said Sa'ad Al-Martan Director Ziad H. Rawashdeh Director Sanaullah Qureshi Director Shahid Ahmad Director Tariq Iqbal Khan Director (NIT Nominee) Executive Committee Khalid Abdulla Janahi Chairman Farook Bengali Member Ziad H. Rawashdeh Membe 2 Capital and Ownership: The majority share holding of Faysal Bank Limited is owned by companies of the Dar Al Maal Al Islami Trust (DMI) including Shamil Bank of Bahrain...
Words: 3322 - Pages: 14
...State Banks and the National Banking Acts: A Tale of Creative Destruction By Matthew Jaremski† Vanderbilt University Job Market Paper November 2010 Abstract: The National Banking Acts and their supporting legislation led to 303 state bank closures and 879 charter conversions between 1863 and 1869. This paper analyzes the sudden reorganization using the period’s first complete bank-level census. The data suggest that the national capital requirements prevented many existing banks from converting to a national charter, whereas a tax on state bank notes was responsible for the large number of closures. Moreover, the requirements prevented new national banks from replacing closed state banks. The legislation thus redistributed capital to developed cities along the “Manufacturing Belt”, potentially fueling the growth of factories and the populist movement after the Civil War. JEL: (E22, G21, N21) Keywords: Free Banking, National Banking, U.S. Economic History, Bank Regulation. † Dept. of Economics, Vanderbilt University, VU Station B #351819, 2301 Vanderbilt Place, Nashville, TN 37235-1819. Tel.: 214-284-9558 E-mail: matthew.s.jaremski@vanderbilt.edu 1. Introduction Bank regulators walk a delicate tightrope. On one hand, they must stabilize the financial system to prevent future crises. On the other, they must allow bank expansion to facilitate future economic growth. Attempting to reform the free banking system, the National Banking Acts of 1863 and 1864 has been criticized...
Words: 9609 - Pages: 39
...South State Bank Webster University Introduction According to Mathis and Jackson, “Strategic planning is the process of defining an organizational strategy, or direction, and making decisions on allocating the resources of the organization (capital and people) to pursue this strategy” (Mathis & Jackson, 2011, p. 38). It requires a company or organization to incorporate all aspects of business into the planning process with one aim in mind: to ultimately fulfill the objectives that the company has determined to be their purpose for operating. For South State Bank, according to CEO Robert R. Hill, Jr., planning efforts are all aimed at accomplishing the goal of “[building] a high-performing bank based on a balance of soundness, profitability, and growth,” while “staying true to our values of relationship banking and commitment to our customers” (South State Bank, 2015). A large part of South State Bank’s strategic planning process includes a recent, large-scale rebranding effort in which the company expanded its local banking institutions into a larger network of banks spreading across three southern states. Rebranding Opening its doors in 1934, South State Bank actually began as a small, rural, community bank located in South Carolina. Originally, the company operated under the name of South Carolina Bank and Trust, more commonly known as SCBT. In 2007, the SCBT Corporation began acquiring outside banking institutions in the neighboring states of North Carolina...
Words: 1259 - Pages: 6
...shortage of news regarding banking scandals and crises over the past three decades both globally and in the United States. This increased awareness has led to the focus upon legislation to stem this trend in addition to creating guidelines for how financial reporting should regulated in order to stabilize the banking industry. Part of this effort has been led by the Basel Committee in its creation of its Core Principles for Effective Banking Supervision consultative document that was released in December 2011. The committee consisting bankers and regulators from its 27 member countries provides a framework for establishing bank governance. The United States, even though a member of the Basel Committee, had previously resisted implementing this framework, instead favoring its own legislation. However, the Federal Reserve agreed to adopt the Basel rules as means of governing the nation's banks against the objections of large financial institutions who argued that these guidelines are too strict. As of May 2012, the proposal of this agreement has not yet been released by the Federal Reserve. It is hoped that the endorsement from the United States of the new requirements under Basel III will work to encourage the European Union to follow suit. Banking Supervision Unlike many of the other countries that follow the Basel framework and have only one bank regulator, the United States banking system is governed by the Federal Reserve. The Federal Reserve consists of several different entities...
Words: 2223 - Pages: 9
...To what extent do organizations like the IMF, WTO, and World Bank challenge the nation state’s ability to shape domestic economic and social policy? The World Trade Organization welcomed with open arms Russia in 2012. This would open up trade possibilities for many countries in Asia, Europe and even the US. Some US companies, like Caterpillar, are already exporting a substantial amount to Russia. However, many in Congress do not want to grant Russia permanent normal trade status because of the way Russia has handled many political situations. As Andrew Kramer brought out in his NY Times article, “Congress has balked at the Obama administration’s request to grant Russia permanent normal trade relation status”. This could lead to retaliation by Russia against US companies by applying higher tariffs on their imported goods. According to Mr. Kramer’s article, the US company Caterpillar has sold 2 billion dollars worth of equipment to Russia in the last 5 years. However, President Obama’s administration, as well as his predecessors, has pushed to open up more trade with Russia. The WTO requires that all member nations have applied the same trade rules. Therefore, since the US is the largest financial contributor to the WTO, it would seem to be expected that it would play by the rules. So the WTO certainly has an effect on how the US constructs it trade policy with Russia. The pressure from inside the country, especially from those who think that Congress’ inaction could cost US...
Words: 1415 - Pages: 6
...On the corner of North and Damen, there was a building that was once serving as a bank, but now became the drug store. The Noel State Bank building has stands tall for almost a century, and it has become the city landmark since 1921. Walgreens purchased the building and cooperate with the city to renovate the historic building to be their flagship store. Walgreens still keeps major feature of the building in place and operates the day-to-day business with story. The Noel State Bank building is not the only building in the area that has been transformed to meet modern needs many of buildings are in the process of renovation. An unpredictable will occur again and the definition of this six-point intersection will be redefine. As demonstrated by Preservation Chicago in the article “Milwaukee Avenue Commercial District - Safe from the wrecker ball.” It said, “Businesses may have changed from cloak tailors to boutiques and from feed stores to neighborhood eateries and specialty shops, but it has remained the commercial heart...
Words: 477 - Pages: 2
...office. Some of his abusive actions included violating laws, treaties, and court orders in his dealings with Native Americans, violating states rights in his dealings with South Carolina in the nullification crisis, and most importantly violating the separation of powers in his actions to destroy the Bank of the United States. All of this acts enforced the supreme power he had over the country. When a president is impeached, it is because they are convicted of treason, bribery, or other crimes and misdemeanors. Because of that definition of impeachment, Andrew Jackson definitely deserved to be removed from office. Jackson’s presidential actions towards the...
Words: 730 - Pages: 3
...Chapter 11: Mini Case 1 – Belmont State Bank At looking at this case it is clear that we need a secure network. Once major risk we need to ensure is the bank transaction are being transferred securely. Developing a secure network means developing controls that reduce or eliminate threats to the network. Here are some of the preventions we need to review when creating preventive measures to maintain compliance Compliance Methods - All virus definition and DAT file in the organization must be up to date by performing inventory of all employees machine by using a Tool such as SCCM to ensure all machine have the correct version. Push will be performed remotely to ensure all machine have the proper version. Wireless Access- In order to access wireless within the organization all employees will be required to have a SSL certificate to enable access to wireless network. Only authorized authentication will be permitted online Desktop Firewall- To assist in protecting again spywares or a predator using employees machines as a BOT employee must ensure their Desktop firewall are activated or a Group Policy (GPO) can be setup on the administrator side to ensure they are active and restrict any modification from users. All machines will have Desktop firewall enabled to reduce the risk of remote penetration to assist in avoiding Denial-of-Service (DoS) attacks. Router restriction- We need to implement Access Control List (ACL) in the router to control network traffic. The router...
Words: 525 - Pages: 3
...equality of opportunity, and reducing poverty. Getting the financial systems of developing countries to function more effectively in providing the full range of financial services is thus a task that will be well rewarded with economic growth. This report takes a first look at the overall financial system of Iraq with a forward looking approach. At the outset it was agreed with Iraqi authorities that the focus of this review should be forward looking and constructive. Overall the financial sector in Iraq is underdeveloped, and is playing a limited role in financial intermediation. The banking system is still by far the most important part of the Iraqi financial system, accounting for more than 75 percent of the assets and dominated by state ownership. Non-bank financial institutions and markets are small and under-developed but have the potential to provide access to sources of finance. Access to finance is impeded by weak financial infrastructure, which needs to be strengthened over time in all areas, including credit registry, the collateral framework, judicial systems, and accounting and auditing skills. When looking at Iraq’s financial system it is important to keep the general political economy in xv REPUBLIC OF IRAQ FINANCIAL SECTOR REVIEW mind. The difficult security situation imposes costs and constraints, the complex political situation impedes decisive policy action, governance issues linger, and the legacy of...
Words: 3527 - Pages: 15
...Karachi school for business and leadership | Financial Institutions (Banks) & Industrial Development in Germany, Russia & India | Global and South Asian Business Development | Dr. Imran Ali | | 3/24/2014 | Salik Chaturbhai M2130024 Taimour Abdullah M2130017 Zeeshan Jessani M2130034 Salik Chaturbhai M2130024 Taimour Abdullah M2130017 Zeeshan Jessani M2130034 Contents Introduction 2 Review of Literature 3 Looking at the Past: Industrialization and Financial Institutions 8 Germany 8 Deutsche Bank, Germany 10 Russia 13 Sberbank, Russia 16 India 17 The State Bank of India 18 Major Themes: Comparison & Contrast 24 The debate between Capitalist and Communist Industrialization 25 Fiscal and Industrialization policy 27 Mission Statement and goals 30 The Banking Sector 31 Target Markets 32 Colonized Industrialization or De-industrialization 34 Conclusion 37 Appendix 1 39 Appendix 2 40 Work Cited 42 Introduction Mankind as a whole and the world as has been observed in the past has undergone much change in all aspects of human life. The concept of economic development in light of increasing industrial growth, free labour, the growth of private property as an institution and the development of the international trade as a concept have changed the way humans and hence nations interact and intervene in the world economic system. These gradual yet drastic changes in the structure of human interactions led to a wave...
Words: 12530 - Pages: 51
...gross irregularities in loan sanctioning and disbursement by the state- owned financial institutions. But one particular loan case, now being dubbed as Hallmark Scam because of its huge size and indifference, deliberate or otherwise, on the part of the management of the country’s largest public sector bank, has come as a real shocker. As the details of the scam are coming out gradually, the people concerned are suspecting that something has gone seriously wrong inside the state-owned banks. The Hallmark corruption with Sonali bank is one of the biggest scam of Bangladesh. The finance minister's initial comment on Bangladesh Bank's authority to recommend the change is not justified. The managerial system errors was the lack of audit teams; special audit teams, investigation team and supervision teams of all the government, non-government and specialized banks and they should be trained to be better adapted. The faulty system of our country led this thing to take place. The people working under the Sonali bank were not fully ethical and loyal and that is one of the reasons for such corruption taking place. The minister, however, did not comment on how strong the presence of political appointments could be on the boards of the state-owned commercial banks (SOCBs). A central bank official alleged that some board members were also involved in the Hall-Mark scam, adding that the Bangladesh Bank informed the finance ministry about it but they were silent...
Words: 721 - Pages: 3
...financial industry, and no emerge of any banks that are on the verge of bankruptcy or need government rescue. In this paper, in order to retrospect the intrinsic reasons, I will firstly explore the common features of the banking systems in Australia and Canada. Then I will compare their banking systems in structure and regulation with United States. Finally, the different ways mortgage lending is conducted in these three countries will be emphasized. Common features The common features of the banking systems of Australia and Canada are embodied in the high concentrated banking system along with intensive supervision and sound regulation. It is the common features that contribute to the resilient performance in these two countries’ banks through the global financial crisis. Generally speaking, the whole banking sector in either Canada or Australia is monopolized by a few large-scaled national banks. In Australia, there are mainly four banks, Commonwealth Bank, Westpac Banking Corporation, Australia and New Zealand Banking Group and National Australia Bank, which dominate Australian banking market. They are individually and collectively huge compared with the size of banking system and their total assets are vast compared with GDP. These four banks occupy 75% of the total banking assets and 80% of the residential mortgage market (Jang & Sheridan 2012, p3). Also, due to there are no mergers and acquisitions between top four banks, the major financial institutions tend...
Words: 3294 - Pages: 14
...AND ICICI BANK DR. ANURAG. B. SINGH*; MS. PRIYANKA TANDON** * Associate Professor LDC Institute of Technical Studies Soraon, Allahabad (Uttar Pradesh) India ** Assistant Professor LDC Institute of Technical Studies Soraon, Allahabad India _____________________________________________________________________________________ ABSTRACT Banking Sector plays an important role in economic development of a country. The banking system of India is featured by a large network of bank branches, serving many kinds of financial services of the people. The State Bank of India, popularly known as SBI is one of the leading bank of public sector in India. SBI has 14 Local Head Offices and 57 Zonal Offices located at important cities throughout the country. ICICI Bank is second largest and leading bank of private sector in India. The Bank has 2,533 branches and 6,800 ATMs in India. The purpose of the study is to examine the financial performance of SBI and ICICI Bank, public sector and private sector respectively. The research is descriptive and analytical in nature. The data used for the study was entirely secondary in nature. The present study is conducted to compare the financial performance of SBI and ICICI Bank on the basis of ratios such as credit deposit, net profit margin etc. The period of study taken is from the year 2007-08 to 2011-12. The study found that SBI is performing well and financially sound than ICICI Bank but in context of deposits and expenditure ICICI bank has better...
Words: 5028 - Pages: 21
