Co-Operative Banks in India

■Financial co-operatives. These organizations operate much like banks, accepting deposits from members, giving loans, and providing chequing services (e.g., credit unions).

This following report is about the Commonwealth Bank of Australia (CBA). The Commonwealth Bank is a public business founded in 1911. This company is owned by the Australian government. The Commonwealth Bank operates within the tertiary business sector.

Commonwealth bank of Australia was founded back in 1911 by the commonwealth bank act that was in favour of bank nationalization. The bank started its first branch in 1912 in Melbourne and later joint hands with the state savings bank in Tasmania and a year later it was able to spread its branches in six different states. After 1920 the bank gradually expanded its role in central banking and along with time continued expanding and earning a good reputation in the market (Australia, 2014). Commonwealth Bank of Australia is also one of the multinational banks of the world that provides a number of financial services to its clients such as managing the funds, retail services, investment services etc. This group has also got itself listed in the Australian Securities Exchange as the top companies that have the objective of maintaining the total shareholder 's return in the upper quartile among the other listed peers over a period of five years (Austrailia, 2014).

The Commonwealth Bank of Australia was founded by the Commonwealth Bank Act on December 22, 1911, introduced by the Andrew Fisher Labor Government, Which favored bank nationalization. In a rare move for the time, the bank was to have both savings and general bank business. The commonwealth bank of Australia is an Australian multinational bank with businesses across New Zealand, Fiji, Asia, USA and the United Kingdom. Commonly referred to as the commonwealth bank or commbank, it provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of December 2014 with brands including Bankwest, Colonial First State Investments Limited, ASB Bank INew Zealand), Commonwealth Securities Limited (CommSec) and Commonwealth Insurance Limited (CommInsure).

The Commonwealth Bank was discovered under the Commonwealth Bank Act in 1911 and started activities in 1912. Currently the firm has over 800,000 investors and 52,000 humans who are functioning under the company (Commonwealth Bank 2015). It has become the biggest bank of Australia provides product and services involving credit cards, Loans, saving accounts and transactions. The

Loaning history was very old, no one can give the exact date of its inauguration but in Pakistan it was started when ZaraiTaraqiati Bank formally known as Agriculture development Bank was developed, weather of State Bank of Pakistan has allow the private and commercial banks to give the loans to the famers now the disbursement of

The Co-operative Societies Ordinance, Cap 33 enshrines the Co-operative Principles and the Director of Agriculture, Fisheries and Conservation is appointed as the Registrar to register and regulate co-operative societies.

The British colonizers were the first to set up a formal institution in 1720 for the purpose of accruing the deposits country (though, most of the finances were directed by the company toward war funding against the individual rulers within the country) and at times lending money. The institution called

SELDOM CORPORATE India recognizes a PSU (Public Sector Unit) and considers its executives worthy of an award for efficiency and business performance. In the corporate arena, ICICI, HDFC, HSBC etc. are the banks which are always considered for one award or the other. Some PSU banks have won awards in the past but those awards were for achieving computerization and other such ‘achievements’. Seldom has a a PSU bank been seen by corporate India as a potential avenue and as one capable of scaling new heights in the banking industry with the presence of more competitive private banks.

(2) Notwithstanding anything contained in this Ordinance or in any other law for the time being in force or the memorandum and articles, the memorandum and articles of a company shall be deemed to include, and always to have includes, the power to enter into any arrangement for obtaining loans, advances or credit, as defined in the Banking Companies Ordinance, 1962 (LVII of 1962), and to issue other securities not based on interest for raising resources from a

Despite the provisions, control and regulations of Reserve Bank of India, banks in India except the State Bank of India or SBI, continued to be owned and operated by private persons. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. Indira Gandhi, 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 entitled "Stray thoughts on Bank Nationalisation."[2] The meeting received the paper with enthusiasm.

In India, Merchant Banking activities followed the footsteps of similar activities in UK and USA starting from the year of 1967. Currently Merchant Banking activity have blossomed in the Indian market. Merchant banks have both public and private sector that set up their respective merchant banking divisions. Currently in india the total numbers of merchant bankers are approximately one thousand four hundred and fifty with more than nine hundred and thirty registered with SEBI. The SEBI authorized Merchant Bankers that include merchant banking divisions in all of India. Both nationalized and foreign banks financial institutions subsidies in commercial banks. While private merchant banks engaged in stock broking, underwriting activities and financial consultancy and investment service firms.

1. The Act stipulates that the Central Board of Directors of the State Bank of Pakistan

ICICI Bank was built by the Industrial Credit and Investment Corporation of India (ICICI), an Indian budgetary foundation, as a completely possessed backup in 1994. The guardian organization was shaped in 1955 as a joint-wander of the World Bank, India 's open segment banks and open division insurance agencies to give task financing to Indian industry.[17][18] The bank was at first known as the Industrial Credit and Investment Corporation of India Bank, before it transformed its name to the shortened ICICI Bank. The guardian organization was later united with the bank.

Banking in India has its origin as carry as the Vedic period. It is believed that the transition from money lending to banking must have occurred even before Manu, the great Hindu jurist, who has devoted a section of his work to deposits and advances and laid down rules relating to the interest. During the mogul period, the indigenous bankers played a very important role in lending money and financing foreign trade and commerce. During the days of East India Company, it was to turn of the agency houses top carry on the banking business. The general bank of India was the first joint stock bank to be established in the year 1786.The others which followed were the Bank of Hindustan and the Bengal