Essay on banking industry growth in india

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The world economies are seeing it as their potential market. This has been going on since quite some time now, ever since reforms of liberalization, globalization and privatization. During this global meltdown and fall of exports, if the Fast Moving Consumer Goods FMCG sector has been able to show rising quarterly growths, it is because of the Rural Markets and their rising spending power, which have not been affected industr this meltdown.

If we look at the strategies followed by Rural Marketers in the FMCG bankinb, it is to sell many small sachets of Rs.

You need essay growth industry india in banking on were

Therefore, consumption trends followed by the rural Indian are considered to be the driver of future growth of companies. And this trend of tapping rural markets is visible across all sectors now, be it FMCG, IT, Banking, education etc. Baning example, today, India is in better state than China because our GDP is less dependent on exports as compared to them, where maximum revenues come from exporting to the European and US markets.


Essay on banking industry growth in india

Thus, tapping the rural markets is most important for us to be a self sustaining economy. India has been considerably shielded from the global recession.

Appendix Diagrams summarize the banking system in India Bibliography: Credit card usage stands at 0. There are mainly three categories in this line like application outsourcing, system integration and information technology consulting. This report takes a first look at the overall financial system of Iraq with a forward looking approach. It is also home for the largest motor cycle manufacturer and fifth largest commercial vehicle manufacturer. Researcher and thinkers all over the world thought that the world financial crisis would affect the Indian banking sector in a serious manner. In the under-developed countries, not only is the capital stock extremely small but, as pointed out above, the current rate of capital formation is also very low. It is calculated as under:

Firstly, we are not very dependent on the exports for our GDP and have a good consumer base in India. Esswy, we are a saving prone economy, unlike western economies which are consumption prone. Thirdly, when banks across the world are falling like a pyramid of playing cards; we are safe, steady and strong, with our banks which have acted read article a strong indis of our economy during present turmoil.

And just like thr FMCG sector, there is tremendous growth potential in the banking sector, because firstly, the rural masses have the habit bsnking saving and spending only when needed. Secondly, their small credit requirements for agriculture, cottage industry and marriages etc. In rural areas, the coverage of banks is 39 per cent, against 60 per cent in urban areas. There is only one bank for a population of Tapping the rural market by banks becomes all the more important, not only for the banking sector, but all other industrial sectors as well.

Essay on banking industry growth in india

If there is growth in the banking sector, it benefits the other sectors as well. By this, it is meant that bankijg this sector, the trickledown theory of economic growth or top down approach works, if we keep the banks at the apex in India Inc.


History of Banking in India - Indian banking industry

Each of us is qualified to a high level in our area of expertise, and we can write you a fully researched, fully referenced complete original answer to your essay question. The report starts off with defining inclusive growth, and highlights how agriculture can contribute towards this phenomena as a consideration. There are UK writers just like me on hand, waiting to help you. The regression equation takes the form of: So the sample of merchant 64 bankers consists of those, who were associated with public issue management activities in any capacity during the period. Discuss the factors behind these outcomes. Thirdly, when banks inn the world are falling like a pyramid of playing cards; we are safe, steady and strong, with our banks which have acted like a strong backbone of our economy during present turmoil.

Reasons being, as banks promote savings in the economy, they speed up the capital formation and then become the source of finance of trade and credit for the industry. Then they provide credit to enable entrepreneurs in their ventures, which promotes production and employment.

  • Banking activities also shifted their traditional scope and new concepts like personal banking, retailing, investment banking, corporate banking, agriculture and rural banking, social banking and bancassurance were introduced.
  • Banking regulation Act was passed in
  • When a return date happens to be a holiday or no trading day at NSE, then share prices of the next available date have been taken for finding out the return.

This production and esasy generates income and consumption and supply and demand, by increasing the spending power of people. And a sum total of all these reduces poverty and better life styles.

For banking on industry india essay growth in cover all

But the problem is that banks have not been able to reach a vast majority of the rural population; the rural poor have limited access to organized, affordable and transparent financial services such as savings, loans, remittances and insurance services etc. It essay on banking industry growth in india important for them to have access to banking services, especially credit and insurance, to enlarge livelihood opportunities and to empower themselves to take charge of their lives.

The unorganized sector of lending is believed to be acting as a problem to the growth impetus in these sectors.

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In several villages, farmers still go to traditional money lenders like zamindars for meager sums of a few hundred or thousand rupees and get into debt trap for their whole lives. As a result, farmer suicides, bonded labor, naxalism and political and social unrest and on top of it, poor financial management, which if had been done smartly would have helped in economic growth of their own self and economy.

Project Financial Literacy of the RBI is one such initiative of dual purpose.

This is done in the light of the objectives of nationalisation as well as on the basis of the recommendations of the Narasimham Committee on the Financial System. Chapter six examines the pricing mechanism of public issues by merchant bankers. It is calculated as follows: Banking and Financial Sector in India. Providing safe deposit vaults or lockers. Its objective is to disseminate information about the central bank and general banking concepts to various target groups like children, women, self help groups etc.

Its objective is to disseminate information about the central bank and general banking concepts to various target groups like children, women, self help groups etc. The effective use of development communication, using Information and Communication Technology ICT will help to create awareness for financial inclusion through banks and make it a success. Here, it is important to use technology as an enabler via mobile banking, because large numbers of Indians are using mobile phones. Using mobile phones for banking operations will cut costs by branchless banking, as there is no need for physical infrastructure and human resources, which is a problem in rural areas and a major constraint in carrying out banking operations.

It will also make it convenient, safe, reliable and transparent. With above initiatives and reaching out to women, self help groups, and microfinance institutions, the banks will not only be able to reach out to half of the population of India that is women, but as these changes expand access to financial services for the low hanking segment and rural masses, the effects can be measured in many ways, not just in the volume of GDP growth, but new jobs and income generations, greater personal safety for women, better education for their children, timelier health care for themselves and their empowerment Thus, future development of India and the growth of India Inc.

This will not only help corporates in fulfilling their social responsibilities, but is important for fuelling growth in other industries and to keep the economy growing and moving. Truly, there are fortunes at the bottom of the pyramid.

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