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Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate banking).
The Banking Codes and standards Board of India is an independent and autonomous banking industry body that monitors banks in India.To improve the quality of banking services in India S S Tarapore (former deputy governor of RBI) had the idea to form this committee.
Standard Chartered India (officially Standard Chartered Bank India Branches) is a foreign branch of Standard Chartered, incorporated in the United Kingdom with limited liability. [1] It is considered as a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI).
It is now usually given free of cost. For some time, the rate of interest on the balance in the savings account in Indian banks was regulated by the Reserve Bank of India. However, the bank can now keep any rate of interest they deem fit. Banks have to follow the RBI's know your customer guidelines to allow an individual to open a savings ...
Retail banks include credit unions and small community banks as well as the retail banking operations of large commercial banks. Some financial services providers such as savings and loans offer a ...
In 2008, Finacle added Islamic banking, wealth management, mobile banking, [6] and rural banking capabilities. [7] In 2010, Finacle reported around $300 million in annual revenue. [8] In 2013, American Banker noted that the new version of Finacle allowed the purchase of individual modules. [9]
Investment banking in India started in the 19th century when European merchant banks began establishing trading houses in the country. [11] Foreign investment banks dominated the sector until the 1970s, when the State Bank of India launched its Bureau of Merchant Banking, and ICICI Securities became the first Indian private sector financial institution to offer merchant banking services. [11]
IndusInd Bank Limited is an Indian banking and financial services company with its headquarters in Mumbai, Maharashtra. [7] It was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh .