Development of banking system in India
The origins of banking, including retail banking, can be traced back to medieval Italy, particularly in prominent city-states such as Florence, Venice, and Genoa. By the 19th century, retail banking institutions had been established in several regions across the world, including India, where the Bank of Hindustan emerged as one of the earliest financial institutions.…
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Advantages and Constraints of Retail Banking
Retail banking plays a crucial role in a nation’s economic development by facilitating the smooth flow of money in the market. By providing individuals with access to loans at competitive interest rates, retail banks contribute to increased consumer spending and investment in various economic activities, ultimately fostering economic growth. Advantages of Retail Banking Benefits to…
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Bank DA Chart(Dearness Allowance payable) for the Quarter May 2025 to July 2025
“No Cheer This Quarter: DA Rate Slashed for Bank Employees”,DA reduced to 1.23% Labour Bureau announces CPI (IW) index numbers for January, February and March 2025 are 143.20, 142.80 and 143 respectively. Average index numbers for the above quarter is =143. Therefore DA payable to Officers, of banks for the quarter is 19.97 % (the…
Read article Characteristics of Retail Banking
Retail banking primarily serves individual consumers and small businesses by offering a range of financial products, including savings accounts, loans, and credit cards. These services are delivered through multiple channels to ensure accessibility and convenience. Retail banking enables customers to manage their finances effectively, access credit facilities, and deposit funds securely. Beyond its core functions…
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Understanding Programme and Performance Budgeting
Programme Budgeting Programme budgeting, also referred to as program-based budgeting, is a financial planning approach that prioritizes the outputs and outcomes of programs rather than solely focusing on inputs (costs). This methodology seeks to integrate planning, budgeting, and performance assessment, enabling governments to allocate resources effectively to priority areas and evaluate whether these allocations yield…
Zero-Based Budgeting: Procedure, Advantages, and Disadvantages
Zero-based budgeting (ZBB) is a budgeting approach that starts from scratch, rather than relying on previous budgets as a baseline. In this method, the budget is constructed from zero, with all expenses requiring justification for each new period. Overview of Zero-Based Budgeting Zero-based budgeting (ZBB) necessitates that all expenditures be justified before inclusion in the…
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