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BANKING
A Bank is a financial institution that provides
banking and other financial services. By the term
bank generally understood an institution that
hold a Banking Licenses. Banking licenses are
generally granted by financial supervision
authorities and provide right to conduct the most
fundamental banking services such as accepting
deposits and making loans. There are also
financial institutions that provide certain banking
services without meeting the legal definition of
bank, a so-called Non-bank. Banks are the subset
of the financial services industry.
The word bank is derived from the Italian banca,
which is derived from German and means bench.
The term bankrupt and broke are similar
derived from banka rotta, which refers to an out
of business bank having its bench physically
broken. Moneylenders in Northern Italy originally
did business in open areas, or big open rooms,
with each lender working from his own bench or
table.
Typically, a bank generates profits from
transaction fees on resources it holds in a trust for
19701980
19811990
19911995
19962000
volumes
Outsourcing of data processing to
service bureau begins
Back office systems only in
multinational (MNC)banks offices
Regulator led it introduction in
banks
Product level automation on stand
alone PCs at branch
In-house EDP infrastructure with
Unix boxes, batch processing in
cobol for MIS
Mainframes in corporate office
Expansion slows down
Banking sector reforms resulting in
progressive deregulation of banking,
introduction of prudential banking
norms entry of new private sector
bank
Total branch Automation (TBA) in
Govt. owned old private banks
begins
New private banks are set up with
CBS/TBA form the start
New delivery channels like ATM,
phone banking and internet banking
and convenience of any branch
banking
Retail banking in focus, proliferation
of the credit card
Communication infrastructure
20002003