MONEY AND BANKING (Part – I)

SBI is now India's largest bank. It is a financial services firm that is a public sector bank with a global nature. SBI, based in Mumbai, is the world's 43rd largest bank. The bank is descended from the Bank of Calcutta, created in 1806, making it the Indian Subcontinent's oldest commercial bank. In total, the bank was founded through the acquisitions and mergers of roughly twenty institutions over a while. State Bank of India, a State under Article 12, is governed by the government and Parliament of India and the local and other authorities mentioned in Article 12 of the Indian Constitution.
The State Bank acts as an agent for the Reserve Bank and fulfils the following tasks:

• It serves as the government's bank, collecting money and making payments on the government's behalf, as well as managing public debt.
• It serves as a bank for bankers. It accepts deposits from commercial banks and lends them. It also serves as a clearinghouse for commercial banks, rediscounting their bills of exchange and providing remittance services.
• It accepts the general public's payments and deposits.
• It offers loan facilities against qualified securities, including bills of exchange, goods, promissory notes, real estate or title papers, fully paid corporate shares, debentures, and so on.
• Corporate securities, government securities, treasury bills, and railroad securities are among the investments it makes with its surplus cash.

SBI is now India's largest bank. It is a financial services firm that is a public sector bank with a global nature. SBI, based in Mumbai, is the world's 43rd largest bank. The bank is descended from the Bank of Calcutta, created in 1806, making it the Indian Subcontinent's oldest commercial bank. In total, the bank was founded through the acquisitions and mergers of roughly twenty institutions over a while. State Bank of India, a State under Article 12, is governed by the government and Parliament of India and the local and other authorities mentioned in Article 12 of the Indian Constitution.
The State Bank acts as an agent for the Reserve Bank and fulfils the following tasks:

• It serves as the government's bank, collecting money and making payments on the government's behalf, as well as managing public debt.
• It serves as a bank for bankers. It accepts deposits from commercial banks and lends them. It also serves as a clearinghouse for commercial banks, rediscounting their bills of exchange and providing remittance services.
• It accepts the general public's payments and deposits.
• It offers loan facilities against qualified securities, including bills of exchange, goods, promissory notes, real estate or title papers, fully paid corporate shares, debentures, and so on.
• Corporate securities, government securities, treasury bills, and railroad securities are among the investments it makes with its surplus cash.

SBI is now India's largest bank. It is a financial services firm that is a public sector bank with a global nature. SBI, based in Mumbai, is the world's 43rd largest bank. The bank is descended from the Bank of Calcutta, created in 1806, making it the Indian Subcontinent's oldest commercial bank. In total, the bank was founded through the acquisitions and mergers of roughly twenty institutions over a while. State Bank of India, a State under Article 12, is governed by the government and Parliament of India and the local and other authorities mentioned in Article 12 of the Indian Constitution.
The State Bank acts as an agent for the Reserve Bank and fulfils the following tasks:

• It serves as the government's bank, collecting money and making payments on the government's behalf, as well as managing public debt.
• It serves as a bank for bankers. It accepts deposits from commercial banks and lends them. It also serves as a clearinghouse for commercial banks, rediscounting their bills of exchange and providing remittance services.
• It accepts the general public's payments and deposits.
• It offers loan facilities against qualified securities, including bills of exchange, goods, promissory notes, real estate or title papers, fully paid corporate shares, debentures, and so on.
• Corporate securities, government securities, treasury bills, and railroad securities are among the investments it makes with its surplus cash.

Objectives of SBI
The State Bank of India, a State under Article 12, was formed to operate on standard commercial principles. However, unlike the country's other commercial banks, it considers and responds to the financial needs of small scale industries and cooperative institutions. It especially caters to the rural parts of the country progressively and liberally.
The State Bank's key goals are as follows:

• To behave according to the government's broad economic policies.
• Providing financial assistance to cottage industries and small-scale businesses.
• To provide banking institutions with remittance services.
• To promote rural credit and stimulate savings by setting up local branches in rural and semi-urban areas.
• To form a government-to-government collaboration to provide cooperative financing.
• Provide financial assistance for the creation of licenced cooperative marketing associations and warehouses.