The word ‘bank’ was borrowed from European languages, literally meaning ‘bench’ or ‘counter’. Banking system evolved in the 14th century in Italy. By the 18th century, merchants of London had started storing their gold with goldsmiths who charged a fee and issued receipts. A banker is a person who discharges his duties in the form of operating…

Water is used in the agriculture for irrigation of crops. In industries, water is used as a coolant, solvent and in manufacturing processes. Hydroelectricity is electricity generated with the help of water. Water is also used for navigation and transport of goods. India covers 2.45% of the world area and possesses 4% of world’s water…

Historically, FDI has been directed at developing nations as firms from advanced economies invested in other markets, with the US capturing most of the FDI inflows. While developed countries still account for the largest share of FDI inflows, data shows that the stock and flow of FDI has increased and is moving towards developing nations,…

In the 21st century, the rapid development of information technology and the rapid increase in information exchange have brought new drives and innovative ideas to the whole society. The wide adoption of information technology by the community has led to great changes. These changes are not simply in the context of data processing or computing. They…

Over the years, money has transformed from coins to paper cash. With the rapid expansion and exponential growth in the technology field, the use of plastic money has evolved to a great extent. Clumsy and expensive to handle coins and notes are replaced by efficient electronic payments initiated by various types of plastic cards with…

India’s food production crossed 235 million tonnes during years 2010-11 as per the latest estimates and this is the highest since Independence. The previous highest production, at nearly 233 million tonnes, was achieved in years 2008-09. Agriculture recorded a 5.4% growth in years 2010-11 compared to the 4% growth achieved all these years, according to…

With more and more people using banks today, the business of banking is basically about efficient and convenient service delivery. ATM has become an important issue, not only in retaining consumers, but also as a competitive advantage while boosting the overall profitability. ATMs have gained prominence as a delivery channel for banking transactions in India.…

There are various forms of decentralisation. Privatisation is a type of decentralisation. Privatisation and deregulation means shifting responsibility for functions from the public to the private sector. Privatisation can range from public-private partnerships to allowing private enterprises to perform functions that had previously been monopolised by the government. Usually, though not always, privatisation and deregulation…