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Imperial Bank Of India
The Imperial Bank of India (IBI) was one of the oldest and the largest commercial bank of the Indian subcontinent, and was subsequently transformed into the State Bank of India in 1955. Initially, as per its royal charter, it acted as the central bank for British India prior to the formation of the Reserve Bank of India (RBI) in 1935. Origin The Imperial Bank of India is started through the kayasth trading and banking corporation which work to the monthly payment paid of teacher's of colleges and school and came into existence on 27 January 1921 through the reorganisation and amalgamation of the three Presidency Banks of colonial India into a single banking entity. The decision of his majesty's government was certainly influenced by the 1912 book "Indian Currency and Finance" authored by John Maynard Keynes. The Presidency Banks were the Bank of Bengal The Bank of Calcutta (a precursor to the present State Bank of India) was founded on 2 June 1806, mainly to fund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emblem
An emblem is an abstract or representational pictorial image that represents a concept, like a moral truth, or an allegory, or a person, like a king or saint. Emblems vs. symbols Although the words ''emblem'' and ''symbol'' are often used interchangeably, an emblem is a pattern that is used to represent an idea or an individual. An emblem develops in concrete, visual terms some abstraction: a deity, a tribe or nation, or a virtue or vice. An emblem may be worn or otherwise used as an identifying badge or patch. For example, in America, police officers' badges refer to their personal metal emblem whereas their woven emblems on uniforms identify members of a particular unit. A real or metal cockle shell, the emblem of St. James the Apostle, sewn onto the hat or clothes, identified a medieval pilgrim to his shrine at Santiago de Compostela. In the Middle Ages, many saints were given emblems, which served to identify them in paintings and other images: St. Catheri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank (" lender of last resort"); * Reserve management: managing a cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1955 Disestablishments In India
Events January * January 3 – José Ramón Guizado becomes president of Panama. * January 17 – , the first nuclear-powered submarine, puts to sea for the first time, from Groton, Connecticut. * January 18– 20 – Battle of Yijiangshan Islands: The Chinese Communist People's Liberation Army seizes the islands from the Republic of China (Taiwan). * January 22 – In the United States, The Pentagon announces a plan to develop intercontinental ballistic missiles (ICBMs), armed with nuclear weapons. * January 23 – The Sutton Coldfield rail crash kills 17, near Birmingham, England. * January 25 – The Presidium of the Supreme Soviet of the Soviet Union announces the end of the war between the USSR and Germany, which began during World War II in 1941. * January 28 – The United States Congress authorizes President Dwight D. Eisenhower to use force to protect Formosa from the People's Republic of China. February * February 10 – The United States Seventh Fleet helps ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of India
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 1955
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1921
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Banking
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. The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks founded by a presidency government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India was g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Government
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, consisting of 28 union states and eight union territories. Under the Constitution, there are three primary branches of government: the legislative, the executive and the judiciary, whose powers are vested in a bicameral Parliament, President, aided by the Council of Ministers, and the Supreme Court respectively. Through judicial evolution, the Parliament has lost its sovereignty as its amendments to the Constitution are subject to judicial intervention. Judicial appointments in India are unique in that the executive or legislature have negligible say. Etymology and history The Government of India Act 1833, passed by the British parliament, is the first such act of law with the epithet "Government of India". Basic structure The govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Banking
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. The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks founded by a presidency government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India was given ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of India
The Parliament of India (International Alphabet of Sanskrit Transliteration, IAST: ) is the supreme legislative body of the Republic of India. It is a bicameralism, bicameral legislature composed of the president of India and two houses: the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president in his role as head of the legislature has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha. The president can exercise these powers only upon the advice of the prime minister of India, prime minister and his Union Council of Ministers. Those elected or nominated (by the president) to either house of Parliament are referred to as member of Parliament (India), members of Parliament (MPs). The member of Parliament, Lok Sabha, members of parliament of the Lok Sabha are direct election, directly elected by the Indian public voting in single-member districts and the member of Parliament, Rajya Sabha, members of parliam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank (" lender of last resort"); * Reserve management: managing a cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kolkata
Kolkata (, or , ; also known as Calcutta , List of renamed places in India#West Bengal, the official name until 2001) is the Capital city, capital of the Indian States and union territories of India, state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, commercial, and financial hub of East India, Eastern India and the main port of communication for North-East India. According to the 2011 Indian census, Kolkata is the List of cities in India by population, seventh-most populous city in India, with a population of 45 lakh (4.5 million) residents within the city limits, and a population of over 1.41 crore (14.1 million) residents in the Kolkata metropolitan area, Kolkata Metropolitan Area. It is the List of metropolitan areas in India, third-most populous metropolitan area in India. In 2021, the Kolkata metropolitan area crossed 1.5 crore (15 million) registered voters. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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