Technological innovations and advances have spread into every sphere of life, and banking is no exception. With competition being fierce, business, especially banking, has to adopt new methods and techniques.
This text examines the latest developments in the Indian Financial System and the roles the Indian banking sector has played in the development of the economy. Practical and comprehensive, the book discusses modern trends in Indian banking, especially its use of new technology. It covers a wide range of topics, including financial markets and institutions; the role of central banks in different countries; basic lending principles; methods of remittance; and micro-credit. It also examines venture capital, credit rating, modern e-payment systems, core banking, and hi-tech banking.
Now in its second edition, the book has been thoroughly revised and updated. This edition includes new topics, such as local area banks, the EXIM Bank (Amendment) Act, 2011, stock invest, the Factoring Regulation Act, 2011, prepaid payment instruments, GIRO payment, white label ATMs, tablet banking, recent development in priority sector lending, Micro-finance Institutions (Development and Regulation) Bill, 2012, technology in the banking sector, the Basel Committee, global economic trends, KYC, the rural infrastructure development fund, licensing of new banks in the private sector, gold loans, and the shadow banking system.
Intended primarily as a text for the students of commerce, this student-friendly text will also be useful for postgraduate students of management, finance, and economics. It should prove equally useful to students of chartered accountancy, practising managers, bankers, and researchers.Key features:
- Comprehensive coverage includes the latest data
- Lays special emphasis on IT-enabled and technology-based banking practices