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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 new policy shook the banking sector in India completely. Bankers, till this time, were used to the 4–6–4 method (borrow at 4%; lend at 6%; go home at 4) of functioning. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. All this led to the retail boom in India.
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 ...
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]
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).
Linearized PDF files (also called "optimized" or "web optimized" PDF files) are constructed in a manner that enables them to be read in a Web browser plugin without waiting for the entire file to download, since all objects required for the first page to display are optimally organized at the start of the file. [26]
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SBM Bank India; Scheduled Banks (India) Banking Ombudsman Scheme (India) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; Standard Chartered India; Structured Financial Messaging System