Banks Are Caterers For The Economy Of A Country - 1324 Words

Banks are caterers for the economy in a Country. From the start ofbanking two thousand years ago in Babylonia till the present date, a country s monetary and fiscal matters are controlled through banking. Banking system is one of the many institutions that impinges on any economy and affects its performance for the better or the worse. In what measure a given banking system contributes to economic development depends upon the governing policy of the Government. As a rule, banking systems are adapted to the structure and needs of the particular economy they exist in. Indian economic policy has been founded on the philosophy of the economic growth with social justice. The banking sector plays a magnificent role in an economy for the†¦show more content†¦In addition, the labor policies of the public sector where employees salaries and promotions are not linked to their job performance has also led to a steady decline in the efficiency, quality of customer services and work culture in the banks. In added some areas of concern in the form of increasing non-performing assets, declining profitability and efficiency, which were threatening the viability of commercial banks. In the light of this facets of banking, the Ghosh committee in 1985, Vaghul group in 1987 and Narasimham Committee in 1991 were appointed to improve the productivity, profitability and efficiency of the financial sector in general and baking sector in particular. Commercial banks have played a vital role in giving direction to economic development by catering the financial requirement of trade and industry in the country. By encouraging thrift among the people, commercial banks have fastened the process of capital formation. Banks draw the community savings into the organized sector which can then be allotted among the different economic activities according to the priorities laid down by planning authorities in the country. ‘The banks are not only the safe deposit vaults for these savings, but taking the banking system as a whole, they also create deposits in the process of their lending operations. However, the important function of a banker is theShow MoreRelatedAssignment 702 Task A1669 Words   |  7 Pagesthemselves or spend less at a restaurant rather than use the industry s services. Similar to the textiles and fashion industry, the catering industry is interesting in the sense that it is part leisure, part necessity. Countries within the UK, and even cities and towns within those countries, are painted strongly in character by their decided method of foodservice and how they have attempted to either follow on the waves of change, or stubbornly resist it. There are places within Britain even – LavenhamRead MoreTourism in Bangladesh1493 Words   |  6 Pagesfor their accommodation and entertainment. In many countries, tourism is an industry for earning Inland Revenue and foreign exchange. The many businesses that grow concomitantly with development of tourism include airlines, shipping, hotels and restaurants, finance companies, tour operators, travel agents, car rental firms, caterers and retail establishments and together, they contribute significantly to the overall development of a countrys economy and to its cultural diversification and assimilationRe ad MoreStarbucks in China4917 Words   |  20 PagesStarbucks Corporation in China Company overview Starbucks Corporation is one of the most famous coffee retailers in the world. According to Starbucks Corporation (2012), it runs over 55 countries in many regions including North America, Asia Pacific, Latin America and so forth. Starbucks headquarter is located in Seattle, Washington, USA. It has approximately 149,000 employees. 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