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Banking In India
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks founded by a presidency government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India was g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regional Rural Bank
Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were created to serve rural areas with basic banking and financial services. However, RRBs also have urban branches. The area of operation is limited to the area notified by the government of India covering, and it covers one or more districts in the State. RRBs perform various functions such as providing banking facilities to rural and semi-urban areas, carrying out government operations like disbursement of wages of MGNREGA workers and distribution of pensions, providing para-banking facilities like locker facilities, debit and credit cards, mobile banking, internet banking, and UPI services. History Regional Rural Banks were established under the provisions of an ordinance passed on 26 September 1975 and the RRB Act 1976 to provide sufficient ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manusmriti
The ''Manusmṛiti'' ( sa, मनुस्मृति), also known as the ''Mānava-Dharmaśāstra'' or Laws of Manu, is one of the many legal texts and constitution among the many ' of Hinduism. In ancient India, the sages often wrote their ideas on how society should run in the manuscripts. It is believed that the original form of ''Manusmriti'' was changed as many things written in the manuscript contradict each other. Over fifty manuscripts of the ''Manusmriti'' are now known, but the earliest discovered, most translated and presumed authentic version since the 18th century has been the "Kolkata (formerly Calcutta) manuscript with Kulluka Bhatta commentary". Modern scholarship states this presumed authenticity is false, and the various manuscripts of ''Manusmriti'' discovered in India are inconsistent with each other, and within themselves, raising concerns of its authenticity, insertions and interpolations made into the text in later times. The metrical text is in Sansk ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Varna (Hinduism)
''Varṇa'' ( sa, वर्ण, varṇa), in the context of Hinduism, refers to a social class within a hierarchical caste system in India, caste system. The ideology is epitomized in texts like ''Manusmriti'', which describes and ranks four varnas, and prescribes their occupations, requirements and duties, or ''Dharma''. *Brahmins: Vedas, Vedic scholars, priests or teachers. *Kshatriyas: Rulers, administrators or warriors. *Vaishyas: Agriculturalists, farmers or merchants. *Shudras: Artisan, Artisans, laborers or servants. Communities which belong to one of the four varnas or classes are called savarna Hindus. The Dalits and tribes, tribals who do not belong to any varna were called avarna. This quadruple division is a form of social stratification, quite different from the more nuanced system ''Jātis'' which correspond to the European term caste system in India, "caste". The varna system is discussed in Hindu texts, and understood as idealised human callings. The concept i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kshatriya
Kshatriya ( hi, क्षत्रिय) (from Sanskrit ''kṣatra'', "rule, authority") is one of the four varna (social orders) of Hindu society, associated with warrior aristocracy. The Sanskrit term ''kṣatriyaḥ'' is used in the context of later Vedic society wherein members were organised into four classes: ''brahmin'', kshatriya, ''vaishya'' and ''shudra''. History Early Rigvedic tribal monarchy The administrative machinery in the Vedic India was headed by a tribal king called Rajan whose position may or may not have been hereditary. The king may have been elected in a tribal assembly (called Samiti), which included women. The Rajan protected the tribe and cattle; was assisted by a priest; and did not maintain a standing army, though in the later period the rulership appears to have risen as a social class. The concept of the fourfold varna system is not yet recorded. Later Vedic period The hymn ''Purusha Sukta'' to the ''Rigveda'' describes the symbolic creation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brahmin Caste
Brahmin (; sa, ब्राह्मण, brāhmaṇa) is a varna as well as a caste within Hindu society. The Brahmins are designated as the priestly class as they serve as priests (purohit, pandit, or pujari) and religious teachers (guru or acharya). The other three varnas are the Kshatriya, Vaishya and Shudra. The traditional occupation of Brahmins is that of priesthood at the Hindu temples or at socio-religious ceremonies, and rite of passage rituals such as solemnising a wedding with hymns and prayers.James Lochtefeld (2002), Brahmin, The Illustrated Encyclopedia of Hinduism, Vol. 1: A–M, Rosen Publishing, , page 125 Traditionally, the Brahmins are accorded the highest ritual status of the four social classes. Their livelihood is prescribed to be one of strict austerity and voluntary poverty ("A Brahmin should acquire what just suffices for the time, what he earns he should spend all that the same day"). In practice, Indian texts suggest that some Brahmins historically ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vasishtha
Vasishtha ( sa, वसिष्ठ, IAST: ') is one of the oldest and most revered Vedic rishis or sages, and one of the Saptarishis (seven great Rishis). Vashistha is credited as the chief author of Mandala 7 of the ''Rigveda''. Vashishtha and his family are mentioned in Rigvedic verse 10.167.4, other Rigvedic mandalas and in many Vedic texts. His ideas have been influential and he was called the first sage of the Vedanta school of Hindu philosophy by Adi Shankara. The '' Yoga Vasishtha'', ''Vasishtha Samhita'', as well as some versions of the ''Agni Purana'' and ''Vishnu Purana'' are attributed to him. He is the subject of many stories, such as him being in possession of the divine cow Kamadhenu and Nandini her child, who could grant anything to their owners. He is famous in Hindu stories for his legendary conflicts with sage Vishvamitra. In the Ramayana, he was the family priest of the Raghu dynasty and teacher of Rama and his brothers. Etymology Vasishtha is also spelled ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jataka
The Jātakas (meaning "Birth Story", "related to a birth") are a voluminous body of literature native to India which mainly concern the previous births of Gautama Buddha in both human and animal form. According to Peter Skilling, this genre is "one of the oldest classes of Buddhist literature."Skilling, Peter (2010). ''Buddhism and Buddhist Literature of South-East Asia,'' pp. 161-162. Some of these works are also considered great works of literature in their own right. In these stories, the future Buddha may appear as a king, an outcast, a deva, an animal—but, in whatever form, he exhibits some virtue that the tale thereby inculcates. Often, Jātaka tales include an extensive cast of characters who interact and get into various kinds of trouble - whereupon the Buddha character intervenes to resolve all the problems and bring about a happy ending. The Jātaka genre is based on the idea that the Buddha was able to recollect all his past lives and thus could use these memor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sutra
''Sutra'' ( sa, सूत्र, translit=sūtra, translit-std=IAST, translation=string, thread)Monier Williams, ''Sanskrit English Dictionary'', Oxford University Press, Entry fo''sutra'' page 1241 in Indian literary traditions refers to an aphorism or a collection of aphorisms in the form of a manual or, more broadly, a condensed manual or text. Sutras are a genre of ancient and medieval Indian texts found in Hinduism, Buddhism and Jainism. In Hinduism, sutras are a distinct type of literary composition, a compilation of short aphoristic statements.Gavin Flood (1996), ''An Introduction to Hinduism'', Cambridge University Press, , pages 54–55 Each sutra is any short rule, like a theorem distilled into few words or syllables, around which teachings of ritual, philosophy, grammar, or any field of knowledge can be woven. The oldest sutras of Hinduism are found in the Brahmana and Aranyaka layers of the Vedas. Every school of Hindu philosophy, Vedic guides for rites of passage, v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Usury
Usury () is the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law. A loan may be considered usurious because of excessive or abusive interest rates or other factors defined by the laws of a state. Someone who practices usury can be called a ''usurer'', but in modern colloquial English may be called a ''loan shark''. In many historical societies including ancient Christian, Jewish, and Islamic societies, usury meant the charging of interest of any kind, and was considered wrong, or was made illegal. During the Sutra period in India (7th to 2nd centuries BC) there were laws prohibiting the highest castes from practicing usury. Similar condemnations are found in religious texts from Buddhism, Judaism (''Loans and interest in Judaism, ribbit'' in He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vedas
upright=1.2, The Vedas are ancient Sanskrit texts of Hinduism. Above: A page from the '' Atharvaveda''. The Vedas (, , ) are a large body of religious texts originating in ancient India. Composed in Vedic Sanskrit, the texts constitute the oldest layer of Sanskrit literature and the oldest scriptures of Hinduism. There are four Vedas: the Rigveda, the Yajurveda, the Samaveda and the Atharvaveda. Each Veda has four subdivisions – the Samhitas (mantras and benedictions), the Aranyakas (text on rituals, ceremonies, sacrifices and symbolic-sacrifices), the Brahmanas (commentaries on rituals, ceremonies and sacrifices), and the Upanishads (texts discussing meditation, philosophy and spiritual knowledge).Gavin Flood (1996), ''An Introduction to Hinduism'', Cambridge University Press, , pp. 35–39A Bhattacharya (2006), ''Hindu Dharma: Introduction to Scriptures and Theology'', , pp. 8–14; George M. Williams (2003), Handbook of Hindu Mythology, Oxford University Press, , p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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