The following points highlight the six main systems of banking. The systems are: 1. Unit Banking 2. Branch Banking 3. Group Banking 4. Chain Banking 5. Mixed Banking 6. Correspondent Banking. System # 1. Unit Banking: Unit banks are independent, one-office banks. Their operations are confined in general to a single office. The existence of unit banking […]
6 Main Systems of Banking (With Merits and Demerits)
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7 Main Essentials of a Sound Banking System
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The following points highlight the seven main essentials of a sound banking system. The essentials are: 1. Liquidity 2. Safety 3. Stability 4. Elasticity 5. Profitability 6. Reserve Management 7. Expansion. Essential # 1. Liquidity: One of the essentials of a sound banking system is to have a higher degree of liquidity. The bank holds […]
Voluntary Retirement Scheme (VRS) in Public Sector Banks
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In this article we will discuss about the Voluntary Retirement Scheme (VRS) in public sector banks. Voluntary retirement scheme (VRS) was implemented by 26 out of 27 public sector banks in 2000-01. According to Indian Banks’ Association (IBA), the total staff strength in public sector banks at the end of March 2000 was 8,63,188 out […]