How Can I Sign Missouri Banking Form

How to industry sign banking missouri document mobile

um okay hello can you all hear me good morning can you all hear me [Music] good morning students can you hear me you can raise your hands if you can hear me hope you all can hear me [Music] okay um let's continue today thank you okay let's start fresh with banking and finance um i know this is a new subject for you though we have started with the introduction in the last class i would like to start fresh because you know we had a gap of a week's time so let me tell you one banking and finance you know when you sit back and think about it you will realize how important role the banks are playing in each and every one of our lives you know we go to bank to deposit our paychecks we go to the banks to withdraw money we also go to banks to take loans sometimes and we also go to bank for different you know works for many types of works so in act you know as an action we can say that a banking system is a group or network of institutions which provides its financial services you know these are the institutions which are responsible for operating a payment system providing loans taking deposits and helping with investments that's about banking system you know let me uh try to explain you what exactly is banking you know banking is an industry that handles cash credit and other financial transactions banks also is ones are a safe place to store extra cash and credit they offer savings accounts certificates of deposits and checking grounds you know when we talk about banking it is an industry all different types of banks put together makes banking industry you know it is nothing but family of banks we have different varieties of banks we have few banks which are exclusively available to help farmers there are few commercial banks which helps other businesses there are you know other financial banks which microfinance the needy people to start the business so we have different varieties of banks as well so all the banks put together makes banking industry as per banking regulation act of india banking is nothing but accepting for the purpose of lending or for investment of deposits of money from the public repayable on demand or otherwise or withdrawable by check draft or order you know all the banks are actually under the regulation of rbi so there is a bank of india at 1934 and the banking regulation act 1949 governs the banking operations in india so talking about history of banking in india we can say banking in india in the modern sense has originated in the last decades of 18th century itself among the first banks were the bank of hindustan which was established in 1970 sorry 1770. i repeat please make a note the bank of hindustan was actually first started in 1919 and liquidated in the year 1829 you know this is very important because you should know back started way back in 17th century in the year 1790 and the first bank is called as was called as the bank of hindustan and the general bank established in 1786 but it was not successful it failed in the year 19 1791. the largest and the oldest one still in existence is the state bank of india i hope uh all of you know all of you must have seen the state bank of india and it is the largest bank of india yeah yeah thank you thank you so much i can see all good morning wishes uh very happy to see all your good morning wishes thank you so much okay uh let me continue then so what i was telling what i was telling is that the largest uh and the oldest bank which is still existing is the state bank of india and it was originated as the bank of calcutta you know it was not named as sbi it was named as a bank of calcutta in june 1806. first it was named as bank of hindustan later in 1806 it was named as bank of calcutta and again it was renamed as the bank of bengal in 1809 this was one of the three banks funded by a presidency government the other two were the bank of mumbai and the bank of mexico so three banks were merged in 1921 to form the imperial bank of india i'm stressing on all this because this question all these points will be asked as a question in your final exam i repeat the three bands you know bank of mumbai the bank of madras and the bank of calcutta were merged together to form the bank of imperial bank of india which upon independence you know became the state bank of india in 1955. i again repeat today's state bank of india was called as imperial bank of india imperial bank of india is the congregation of three banks you can make a note the three banks were bank of mumbai bank of madras and the bank of calcutta put together was formed as the bank of state bank of india in 1955 after independence for many years the presidency banks acted as passive central banks as did their successes until the reserve bank of india was established in 1935 under the reserve bank of india act 1934 okay what you have to remember here is the first bank that started in india was bank of hindustan in 1790 then the bank of hindustan became bank of that time 1809 then three banks put together was made as a state bank of india in uh 1955 and later you know in 1934 rbi was established and you know he took the full-fledged control of the regulation of banks in india so this is the small interaction of how banking or banks emerged in india so one um you know now [Music] there are many subsidiary banks of india in state i mean the state bank of india exists right from kashmir to kanyakumari there are many subsidiary banks along with the nationalized ones in 1980 six more uh okay in 1969 the government of india nationalized 14 major private banks and in 1980 uh six major private banks were also nationals meaning many banks were nationalized meaning they were under the control of the regulation of rbi these nationalized banks the majority of the lenders in the indian economy they are the major contributors for the development of vendor economy they dominate the banking sector because of their large size and widespread networks now the banking sector is broadly categorized into schedule banks and non-scheduled binds you know there are actually two types of banks schedule banks and non-scheduled ones all these slides you can go through post-independence how whatever i have explained is shown in these slides post-independence how the banks were emerged you know india observed the emergence of large number of institutions for providing finance to different sectors of the economy the injury activities of the private sector and foreign banks were restricted through branch licensing and regulate regulation nouns no two banks also can have the same directors of the same heads so what i need to say here is everything is under the control of our rbi and only one director can regulate one bank one ceo will be there for one single bank uh the banking regulation and also provided that no new bank or branch of an existing bank could be opened without the license from the rbi that means license has to be taken from rbi to open uh anybody in india so the reserve bank of india was nationalized on january 1st 1949 under the terms of the reserve reserve bank of india hope this is pretty much clear all this happened after the indian independence after india got independence so before indian independence or before you know independence itself banking played a major role but post independence it has enhanced its activities towards the economic development uh you know for um [Music] just to simplify the version of nationalization let me tell you how nationalization of banks happened in india you know the nationalization of banks in india took place uh just after independence or a little later after independence around 1960 under the eminent leadership of our congress you know government especially it has nationalized almost all the banks putting banks together was nationalized and many subsidies were also nationalized in 1960 so till 1960 the first phase of nationalization of banks happened and the second phase of nationalization of indian ones took place in the year 1980 seven more banks were also nationalized with the deposits over more than 200 crores the stated reason for the nationalization was to give the government more control of credit over delivery so this is about nationalization and these are the major players of indian banking system all of you must have seen all these banks state bank india icici hdfc punjab national bank access bank bank of baroda you know now i think all of you know about bank of baroda three banks punjab apart from this we also have many other players these are major players now let us try to understand what exactly is a bank bill now we understood what is banking industry how banking is emerging india now let us try to understand what exactly is fun i know all of you must have listed banks uh many times by now but still what exactly they do what is the need of ban why banking is required you know a bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans lending activities can be performed either directly or through capital markets so you know this is all about banks it's nothing but you know banking banks are those institutions which usually accepts money from the public and also they lend money when there is a demand from the public and it also accepts the repayments that is given by the public and also you know help them to withdraw money whenever it is required by the public so that uh that is what is all about bans or banking system so there are mainly four pillars of banking one is accepting deposits you know whenever there is excess of money in the public or whenever it is required we all go on deposit money in the banks that is what is accepting deposit so first pillar of banking is accepting deposits second is lending investment investment for various purpose you know if anybody wants to start a business a banks invest money if anybody wants to you know for even for government banks invest money in form of infrastructure development or for anything it could be for individuals or it could be for other institutions for other ones or for government for everybody banks you know invest that is the second pillar of banking investment that's the main reason why banks emerge so the second pillar of banking is lending investment the third pillar of parking is retail when demanded you know suppose uh uh suppose sdi um take some loan from rbi on demand of our rbi sbi has to repay the money so repayable by demand is the third pillar of parking the fourth pillar is withdrawal by check draft or order whenever we want our money we go to bank and we draw the money it can be through check it can be through atms or it can be through demand or so these are the four pillars of banking and the most important functions of banking is these two itself to accept deposits from the public and to lend the money for investment of law so majorly bank skills our goal in the development of the economy of any country so the main functions of banking is to accept deposits from the market from the public and also to lend money or invest uh or to give loan whenever it is required by the public or by the government i would like to you know clarify one thing here you have to be very careful all the institutions which accepts checks are not necessarily banks you know i can also open an office and accept your check that doesn't mean that i'm a ban just remember even post office accepts your deposits post office also accepts the deposits and perform almost all the you know functions of ones but bank is different from post office so all the institutions that accepts your money that accepts your cheques are not balanced there is a small demarcation and all the institutions that gives you money or that gives you loan is not bank there are some you know private institutions or um finances which gives you money which lends loan for different purposes for the public that doesn't mean that they are banks just giving money alone will not make a banking activity so to consider an institution as one they need to accept both checks and they need to uh you know lend money when whenever it is required see for the second point lending money is done by various institutions like llc and upi unit trust of india they are not banks they are just the financial institutions so there is a huge difference between financial institutions and banks and there's also a huge difference between post office and banks though course office does most of the functions of banks they are not banks so that you have to be careful banks are different than other financial institutions and post office okay coming to the other functions of banks see first function we have already discussed acceptance of deposits when we talk about acceptance of deposits you know deposits are accepted in in the form of various accounts for near clarity i don't know how many of you know uh about the tanks that concert bank has there are different types of accounts one is current account the other is you know already simplified when we talk about deposit there are three different types of deposits one is current account deposits fixed deposits and savings deposits i hope uh you you know you all know about the projects there are three types of deposits current account deposits fixed deposits and savings account deposits do you know how these three deposits differ all the three different deposits are different current account deposits are totally different from savings account deposit do you know which car which type of account do you all have any idea about what type of account you hold as an individual in the bank can anyone answer okay i'm not able to hear anybody's answer let me tell you uh you know different types of deposit accounts uh depends on what type of interest the char the bank levels you say for example interest on fixed deposit is always higher than savings deposits anybody knows what is the current savings deposit uh interest and what is uh the interest on fixed deposit you can answer me anybody has any answer for this question the difference on the interest between current account and savings account okay let me tell you savings account fetches you thank you at least few people are trying to answer me savings account uh gets you less interest than fixed deposit savings account right now gives you only around 2.1 to 2.3 of interest based on the bank in which you have the account but fixed deposit also has drop down from around 75 to 5.1 to 5.2 right now that means if you want to keep money in the bank for long run to get more interest it is always advisable to have fixed deposits deposit fetches you less interest than fixed deposits and this other account type called as current account current account will not give you any interest on whatever money you place it or you deposit so current account is usually made by business people it is done for business purpose so remember current account is an account that is open for the purpose of business and it doesn't give you any interest so savings account is for individual purpose personalized purpose and it gives you a you know mediocre uh type of interest based on uh the economy or based on uh the regulations of banking or banking regulation right now because the economy is not going that great the interest has come down otherwise for the savings account it will be around three to five percent interest and for a fixed deposit it will be seven to nine percent interest but right now both the interest has uh dropped down fixed interest is around five percent and uh savings bank interest is around 2.1 to 2.5 so that's about acceptance of deposits and different types of deposits now moving on to overdraft facility it could be credit card you know to a certain acceptable limit i hope all of you at least a few of you must be using credit card so that is an example for overdraft facility is nothing but an advance given by allowing a customer to overdraw his current account upon a previous decided agreed label say for example your credit card will have some limitation you know few credit cards will be allowed to take credit up to 10 laps or few credit card will allow the customer to take credit up to five laps depending upon you know pre-decided every limit that is what is called verdraft overdraft is an advance given by ones allowing the customer to over draw his current account upon and pre-decided you know upon pre-decided agreed limit that is what is called as overdrive so there is a security for the overdraft and is mostly the assets of the account holder like shares developers life insurance policies etc it is not a permanent facility it is actually a temporary facility the rate of interest on the amount withdrawn is lower than the cash credit because there is involved this cost of such credit is always lower now this is an important point here the rate of interest on the amount withdrawn here to overdrive whatever amount you withdraw you know we have less interest rate the reason is the reason being that risk is the risk involved in this is lower and the service cost of such credit is always lower that is why many people prefer overdraft facility than crash bank facility cash credit as a name itself says is nothing but uh taking money based on the worthiness of not the borrower cash credit is nothing but based on the credit worthiness of the borrower you know cash is credited or cash is given taken demand loads i mean the next one is discount bill or bill of exchange i think all of you know what exactly is bill of exchange bill of exchange is nothing but a document acknowledging an amount of money owed now in consideration for goods received did you understand bill of exchange is a document or document that acknowledges an amount of money owned in consideration for goods received and the last one the last is investment of funds this is another major function of banking even the bills of exchange is also equally important function of banking you know this is useful especially for this business people where they hire some equipment or the higher goods involved when they don't have money to buy the goods or buy machinery they usually use this facility to pay the creditors and the last one investment of funds investment of funds is nothing but surplus funds there are actually three types of surplus funds one is government security the other one is approved security and other treasury bills government security is uh the security that is uh you know that down banks usually says bank says securities securities is nothing but our shares and stocks which are sold by the banks is what is called as government securities that's first type of investment of funds investment of funds is nothing but surplus funds and the second type of surplus funds is nothing but approved securities approved securities are nothing but housing boards utility shares etc so and those are the approved securities and the last security it could be treasury bills on nse national savings certificates which are again given by the banks so these are some of the major functions of banks apart from this you know there are other various functions that the bands are doing so but these are the major five functions of any bands okay let's talk about um you know we we have finished with the functions of planting today and let us talk about uh the regulatory banking system in the next class before that while talking about the introduction bank uh let's talk about uh indian funding classification along with the evolution you know classification and evolution is integrated that is why i'm trying to link classification along with the evolution of banking system here the indian banking sector is broadly classified into scheduled vans and non-sharing plans the scheduled ones are those which are included under the second schedule of the reserve bank of india act 1934 the scheduled banks are further classified into nationalized banks state bank of india and its associates regulation rural banks foreign banks and other indian private sector banks the term commercial banks refer to both scheduled and non-scheduled banking sector which are regulated under the banking regulation at 1914 [Music] 49. okay the first branch of uh indian banking started in ancient india okay ancient india in ancient india the vedas or it was before bce 2 400 bce the period was during 1200 to 1400 dce the vedas are earliest indian texts to mention the concept of usually which supports the use of low needs you know which was an order on a banker directing him to pay the sum on the note to a third person which corresponds to the definition of a modern bill of exchange the considerable rules of these instruments have been recorded in large terms merchants also gave letters of credit to one another i hope you all know what letter of credit letter of credit is kind of assurance given by second party on the third party itself now it is called as letter of credit so when we talk about the history letter of credit was started in ancient indian time itself let's see what happened in the medieval era so the use of loan deeds continued into the mobile iran see here the use of loans was started in the mauryan period and it continued in the medieval era it was called as the service two types of loan deeds have been recorded here the use of payment orders by royal treasuries called parties have also been recorded there are also records of indian banks issuing bills of exchange on foreign countries in the medieval era itself indian banks used to issue bills of exchange on foreign countries the evolution of foodies a type of indian credit instrument also started during this period and it is still in use way you know the evolution of foodies which is uh which is a major threat instrument which has been used across the world for various types for various purpose is still in use today was started way back in the medieval era itself after this era was the colonial era during i think all of you know what is colonial era it is the period where india was ruled by britishers so during the period of british rule merchants established the union bank of 1829. first as a private joint stock association then as partnership i repeat during this period of british rule the union bank of calcutta in 1929 was the first joint stock association then it became the partnership i hope all if you know the difference between private joint stock company and the partnership john stock as the name itself says is a company which is jointly you know made by many people more than seven people partnership is just two to three people so john stark companies were started during colonial period where many britishers you know had become the partners in starting this bank its properties were the owners of the earlier commercial bank who while mutual consent credited union bank to replace these two banks in 1840 it established an agency at singapore and close to the close to one at missouri that it had opened in the previous year also in 1840 the bank revie having been in insolvent for some time and having used new money from the positives to pay its dividends established in sorry 1965 and still is functioning today it is one of the oldest joint stock bank in india you know these questions will be asked the oldest joint stock bank of india india which was established in 1863 and which survived till 1913 when it failed with some of its assets and diabetes being transferred to the alliance bank of shimla foreign months two started to appear particularly in calcutta in the 1860s the kong toy opened a branch in calcutta in 1816 and another in mumbai in 1862 branches followed in madras and pondicherry then a french possession hsbc established itself in bengal in 1869. calcutta was the most active trading port in india mainly due to the plate of british empire and so became abandoned centre you all have to remember the now today's kolkata was the most active trading court in india mainly due to the trade of british empire and so became a banking center the first entirely indian joint stock was the out commercial bank established in 1881 in faizabad it failed in 1958 the next was the punjab national bank established in rahul in 1894 which has survived to the present and is now one of the largest banks in india i repeat the first indian joint stock was the out commercial bank established in 1881 in paizaba but it failed the next was the national punjab the punjab national bank established in lahore in 1894 which has survived to the present and is now one of the largest banks in india around the turn of the 20th century the indian economy was passing through a relative period of stability around five decades had elapsed since the indian rebellion and social industrial and other infrastructure had improved indians had established small bonds most of which served particular ethnic and religious communities the presidency once dominated banking in india but there was also some exchange banks and a number of indian joint stock banks all these banks operated in different segments of the economy the exchange banks mostly owned by europeans concentrated on financing foreign indian joint stock banks were generally under capitalized and lacked the experience and maturity to compete with residency and exchange funds the period between 1906 and 1911 saw the establishment of banks inspired by study she moment i think all of you must have you know heard about swadeshi moment where a lot of uh fight against britishers started uh in early 90s a lot of you know the swadeshi movement inspired the local uh businessman and the politician figures political figures to find banks off and for other indian community a number of banks established then have survived to the present such as the south india bank bank of india corporation bank bank of baroda and central bank of india the favor of swadeshi moment led to the establishment of many private banks industrial and local district which were unified earlier and known as the south canada you know if you see the vijayama bank all these banks were started because lot of you know people in dakshina canada was motivated by spaghetti movement and they wanted to establish banks by themselves and you can see the growth and the prosperity of our own banks inspired by the swadeshi moment of those days hence the undivided district is also known as the cradle of indian banking you know this point has to be noted on dakshina district is also known as the cradle of indian banking that means it has given birth to many banks uh especially in south india you know most of our banks which are growing during the first world war through the end of the second world war and two years thereafter until the indian er ending in the independence of india were challenging for indian banking the years of the first world war were turbulent and it took its solve with banks simply collapsing despite the indian economy they will indirect boost due to war-related economic activities you know at least during this first world war at least 94 ones or more than 94 bands in india paid between 1913 and 1980 that was the downfall in the banking sector especially in india the reason is the first you know world war during the first world war indian indian banks were not highly capitalized they were dependent on either european banks or british banks or portugal banks so there was a huge downfall in the indian banking system during the first world war and more than 90 banks of close let's see what happened post independence and then we'll also see what happened during 60s and 19s then we'll stop okay post independence the partition of india in 1947 adversely impacted the economies of punjab and west bengal as you know when the partition happened after independence were the two states which were you know highly disturbed and in fact the whole banking system was paralyzed for many months because of the turbulence that happened during you know post-independence period that was the partition that happened during the independence india's independence marked the end of the regime of laser-free laser-free is nothing but an economic system where you know in which transactions between private parties are free from government interference such as regulations privileges tabs and subsidies for the banking system the government of india initiated measures to play an active role in active role in the economic life of the nation and the industrial policy resolution adopted by the government in 1948 in this age a mixed economy this resulted in a greater involvement of the state in different segments of the economy including banking and finance the major steps to regulate the banking included the reserve a reserve bank of india india's central banking authority was established in 1935 but was of but was nationalized on january 1st 1949 under the terms of reservation reserve bank of india and 1948. in 1949 the banking regulation act was enacted which empowered the reserve bank of india to regulate control and inspect the balance in india the banking regulation act also provided that no new ban or branch of an existing branch one could be opened without a license from rbi and no two banks could have common directors say this you have to be careful you have to carefully note this point as per the regulation bank as per the banking regulation act an existing bank could be opened without a license from the rbi and no new banks could have common directors so this all this happened post-independence now let's see what happened in 1960s it is called as the era of nationalization so nationalization happened in 1960s despite the provisions control and regulations of the reserve bank of india banks in india except the state bank of india continued to be owned and operated by private persons by the 60s by 1960s the indian banking industry had become become an important tool to facilitate the development of indian economy at the same time it had emerged as a large employer and the debate had ensured about the nationalism banking industry the then prime minister of india expressed the intention of the government of india in the annual conference of the all india congress meeting in a paper the meeting received the meeting was received by the public with lot of enthusiasm there after her move was with and the government of india issued an ordinance backing uh companies audience and nationalized the 14 largest commercial brands with effect from the midnight of 19 july 1969 that means nationalization started i mean along the nationalization 14 banks were nationals these banks contained 85 percent of bank deposits in the country so on 19th july 1969 14 commercial banks were nationalized which had almost 85 percent of you know the deposits of india leader of india described the step as master stroke of political sagacity within two weeks of the issue of the ordinance the parliament passed the banking companies bill and it received the presidential approval on 19th august 9th august 1969 so this was the first dose of nationalization and the second year started six months later i mean uh 20 years later in 1980 there were six more banks were six more commercial banks were nationalized and when this happened more than 91 percent of you know more than 91 of the deposits were under the control of the indian government with the second dose of nationalization the indian government controlled around 91 of the banking business of india later on in the year 1993 the government merged new bank of india with punjab national bank it was the only merger between nationalized banks and resulted in the reduction of number of nationalized banks from 20 to 19. until 1990s the nationalized banks grew at a place of around four percent closer to the average growth rate of indian economy so this is all about uh nationalization just give me two minutes i'll tell you about liberalization liberalization happened in 1990s i don't know how many of you know what is liberalization liberalization is done by giving freedom to everyone like how new people are free now still in that form probably half of you are listening to me half of you are playing your mobile just turning into uh you know the youtube i'm not sure how many of you are completely with me you think to me this is what is liberalization this happened in 1990 uh you know the indian government embarked on a policy of liberalization licensing a small number of primary banks these came to know these came to be known as new generation tech savvy banks and included many banks like uti global trust bank icici hdfc and so on this move helped in the rapid growth of the indian economy revitalizing the banking sector in india which has seen rapid growth with strong contribution from all the three sectors of banks namely government banks private banks and so liberalization helped to mobilize the ban the money from all the three sectors of the bank government private and foreign methods of working for traditional banks all this led to the retail boom in india people demanded more from their banks and received more now in the current period i think all of you know how google pay paytm uh debit card credit card all this have become user friendly and helps you in almost all the retail shopping and purchasing shopping everywhere so currently a banking has immensely grown it has become user friendly and i think uh banking is doing wonderful uh we we all are going cashless did not have to carry a single pill in our wallet without having card without having money we can shop for uh you know we can shop for how much ever we want that's the growth that we are seeing today so this is how banking from the ancient india has taken a revolutionary change let's see how let's see the structure of banking system in the next class for today we'll take a break i hope all of you understood uh how do i get acknowledgement hope uh today's class was useful and you all understood [Music] thanks for joining have a nice day let's meet on saturday then thank you uh um you