India known as the Republic of India, is a country in South Asia. It is the seventh largest country by area and with more than 1.3 billion people, it is the second most populous country as well as the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives, while its Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia; the Indian subcontinent was home to the urban Indus Valley Civilisation of the 3rd millennium BCE. In the following millennium, the oldest scriptures associated with Hinduism began to be composed. Social stratification, based on caste, emerged in the first millennium BCE, Buddhism and Jainism arose. Early political consolidations took place under the Gupta empires. In the medieval era, Zoroastrianism and Islam arrived, Sikhism emerged, all adding to the region's diverse culture.
Much of the north fell to the Delhi Sultanate. The economy expanded in the 17th century in the Mughal Empire. In the mid-18th century, the subcontinent came under British East India Company rule, in the mid-19th under British Crown rule. A nationalist movement emerged in the late 19th century, which under Mahatma Gandhi, was noted for nonviolent resistance and led to India's independence in 1947. In 2017, the Indian economy was the world's sixth largest by nominal GDP and third largest by purchasing power parity. Following market-based economic reforms in 1991, India became one of the fastest-growing major economies and is considered a newly industrialised country. However, it continues to face the challenges of poverty, corruption and inadequate public healthcare. A nuclear weapons state and regional power, it has the second largest standing army in the world and ranks fifth in military expenditure among nations. India is a federal republic governed under a parliamentary system and consists of 29 states and 7 union territories.
A pluralistic and multi-ethnic society, it is home to a diversity of wildlife in a variety of protected habitats. The name India is derived from Indus, which originates from the Old Persian word Hindush, equivalent to the Sanskrit word Sindhu, the historical local appellation for the Indus River; the ancient Greeks referred to the Indians as Indoi, which translates as "The people of the Indus". The geographical term Bharat, recognised by the Constitution of India as an official name for the country, is used by many Indian languages in its variations, it is a modernisation of the historical name Bharatavarsha, which traditionally referred to the Indian subcontinent and gained increasing currency from the mid-19th century as a native name for India. Hindustan is a Middle Persian name for India, it was introduced into India by the Mughals and used since then. Its meaning varied, referring to a region that encompassed northern India and Pakistan or India in its entirety; the name may refer to either the northern part of India or the entire country.
The earliest known human remains in South Asia date to about 30,000 years ago. Nearly contemporaneous human rock art sites have been found in many parts of the Indian subcontinent, including at the Bhimbetka rock shelters in Madhya Pradesh. After 6500 BCE, evidence for domestication of food crops and animals, construction of permanent structures, storage of agricultural surplus, appeared in Mehrgarh and other sites in what is now Balochistan; these developed into the Indus Valley Civilisation, the first urban culture in South Asia, which flourished during 2500–1900 BCE in what is now Pakistan and western India. Centred around cities such as Mohenjo-daro, Harappa and Kalibangan, relying on varied forms of subsistence, the civilization engaged robustly in crafts production and wide-ranging trade. During the period 2000–500 BCE, many regions of the subcontinent transitioned from the Chalcolithic cultures to the Iron Age ones; the Vedas, the oldest scriptures associated with Hinduism, were composed during this period, historians have analysed these to posit a Vedic culture in the Punjab region and the upper Gangetic Plain.
Most historians consider this period to have encompassed several waves of Indo-Aryan migration into the subcontinent from the north-west. The caste system, which created a hierarchy of priests and free peasants, but which excluded indigenous peoples by labeling their occupations impure, arose during this period. On the Deccan Plateau, archaeological evidence from this period suggests the existence of a chiefdom stage of political organisation. In South India, a progression to sedentary life is indicated by the large number of megalithic monuments dating from this period, as well as by nearby traces of agriculture, irrigation tanks, craft traditions. In the late Vedic period, around the 6th century BCE, the small states and chiefdoms of the Ganges Plain and the north-western regions had consolidated into 16 major oligarchies and monarchies that were known as the mahajanapadas; the emerging urbanisation gave rise to non-Vedic religious movements, two of which became independent religions. Jainism came into prominence during the life of Mahavira.
Buddhism, based on the teachings of Gautama Buddha, attracted followers from all social classes excepting the middle
Bombay Stock Exchange
The Bombay Stock Exchange is an Indian stock exchange located at Dalal Street, Mumbai. Established in 1875, the BSE is Asia's first stock exchange; the BSE is the world's 10th largest stock exchange with an overall market capitalization of more than $4.9 trillion on as of April 2018. Bombay stock Exchange was founded by Premchand Roychand, he was one of the most influential businessmen in 19th-century Bombay. A man who made a fortune in the stockbroking business and came to be known as the Cotton King, the Bullion King or just the Big Bull, he was the founder of the Native Share and Stock Brokers Association, an institution, now known as the BSE. While BSE Ltd is now synonymous with Dalal Street, it was not always so; the first venue of the earliest stock broker meetings in the 1850s was in rather natural environs - under banyan trees - in front of the Town Hall, where Horniman Circle is now situated. A decade the brokers moved their venue to another set of foliage, this time under banyan trees at the junction of Meadows Street and what is now called Mahatma Gandhi Road.
As the number of brokers increased, they had to shift from place to place, but they always overflowed to the streets. At last, in 1874, the brokers found a permanent place, one that they could, quite call their own; the new place was, called Dalal Street. The Bombay Stock Exchange is the oldest stock exchange in Asia, its history dates back to 1855, when 22 stockbrokers would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times to accommodate an increasing number of brokers; the group moved to Dalal Street in 1874 and became an official organization known as "The Native Share & Stock Brokers Association" in 1875. On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. In 1980, the exchange moved to the Phiroze Jeejeebhoy Towers at Fort area. In 1986, it developed the S&P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange.
In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts. The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform. An open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to make this transition; this automated, screen-based trading platform called BSE On-Line Trading had a capacity of 8 million orders per day. The BSE has introduced a centralized exchange-based internet trading system, BSEWEBx.co.in to enable investors anywhere in the world to trade on the BSE platform. Now BSE has raised capital by issuing shares and as on 3 May 2017 the BSE share, traded in NSE only closed with Rs.999. The BSE is a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012. BSE established India INX on 30 December 2016. India INX is the first international exchange of India.
BSE launches commodity derivatives contract in silver. Stock market crashes in India Clause 49 National Stock Exchange of India List of South Asian stock exchanges List of stock exchanges in the Commonwealth of Nations SAMCO Securities SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT "M. RANGABATHAN, R. MADHUMATI" Official website
Kolkata is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River 75 kilometres west of the border with Bangladesh, it is the principal commercial and educational centre of East India, while the Port of Kolkata is India's oldest operating port and its sole major riverine port; the city is regarded as the "cultural capital" of India, is nicknamed the "City of Joy". According to the 2011 Indian census, it is the seventh most populous city. Recent estimates of Kolkata Metropolitan Area's economy have ranged from $60 to $150 billion making it third most-productive metropolitan area in India, after Mumbai and Delhi. In the late 17th century, the three villages that predated Calcutta were ruled by the Nawab of Bengal under Mughal suzerainty. After the Nawab granted the East India Company a trading licence in 1690, the area was developed by the Company into an fortified trading post. Nawab Siraj ud-Daulah occupied Calcutta in 1756, the East India Company retook it the following year.
In 1793 the East India company was strong enough to abolish Nizamat, assumed full sovereignty of the region. Under the company rule, under the British Raj, Calcutta served as the capital of British-held territories in India until 1911, when its perceived geographical disadvantages, combined with growing nationalism in Bengal, led to a shift of the capital to New Delhi. Calcutta was the centre for the Indian independence movement. Following Indian independence in 1947, once the centre of modern Indian education, science and politics, suffered several decades of economic stagnation; as a nucleus of the 19th- and early 20th-century Bengal Renaissance and a religiously and ethnically diverse centre of culture in Bengal and India, Kolkata has local traditions in drama, film and literature. Many people from Kolkata—among them several Nobel laureates—have contributed to the arts, the sciences, other areas. Kolkata culture features idiosyncrasies that include distinctively close-knit neighbourhoods and freestyle intellectual exchanges.
West Bengal's share of the Bengali film industry is based in the city, which hosts venerable cultural institutions of national importance, such as the Academy of Fine Arts, the Victoria Memorial, the Asiatic Society, the Indian Museum and the National Library of India. Among professional scientific institutions, Kolkata hosts the Agri Horticultural Society of India, the Geological Survey of India, the Botanical Survey of India, the Calcutta Mathematical Society, the Indian Science Congress Association, the Zoological Survey of India, the Institution of Engineers, the Anthropological Survey of India and the Indian Public Health Association. Though home to major cricketing venues and franchises, Kolkata differs from other Indian cities by giving importance to association football and other sports; the word Kolkata derives from the Bengali term Kôlikata, the name of one of three villages that predated the arrival of the British, in the area where the city was to be established. There are several explanations about the etymology of this name: The term Kolikata is thought to be a variation of Kalikkhetrô, meaning "Field of Kali".
It can be a variation of'Kalikshetra'. Another theory is. Alternatively, the name may have been derived from the Bengali term kilkila, or "flat area"; the name may have its origin in the words khal meaning "canal", followed by kaṭa, which may mean "dug". According to another theory, the area specialised in the production of quicklime or koli chun and coir or kata. Although the city's name has always been pronounced Kolkata or Kôlikata in Bengali, the anglicised form Calcutta was the official name until 2001, when it was changed to Kolkata in order to match Bengali pronunciation; the discovery and archaeological study of Chandraketugarh, 35 kilometres north of Kolkata, provide evidence that the region in which the city stands has been inhabited for over two millennia. Kolkata's recorded history began in 1690 with the arrival of the English East India Company, consolidating its trade business in Bengal. Job Charnock, an administrator who worked for the company, was credited as the founder of the city.
The area occupied by the present-day city encompassed three villages: Kalikata and Sutanuti. Kalikata was a fishing village, they were part of an estate belonging to the Mughal emperor. These rights were transferred to the East India Company in 1698. In 1712, the British completed the cons
Yangon known as Rangoon, is the capital of the Yangon Region and commercial capital of Myanmar. Yangon served as the administrative capital of Myanmar until 2006, when the military government relocated the administrative functions to the purpose-built city of Naypyidaw in central Myanmar. With over 7 million people, Yangon is Myanmar's largest city and its most important commercial centre. Yangon boasts the largest number of colonial-era buildings in Southeast Asia, has a unique colonial-era urban core, remarkably intact; the colonial-era commercial core is centred around the Sule Pagoda, reputed to be over 2,000 years old. The city is home to the gilded Shwedagon Pagoda – Myanmar's most sacred Buddhist pagoda; the mausoleum of the last Mughal Emperor is located in Yangon, where he had been exiled following the Indian Mutiny of 1857. Yangon suffers from inadequate infrastructure compared to other major cities in Southeast Asia. Though many historic residential and commercial buildings have been renovated throughout central Yangon, most satellite towns that ring the city continue to be profoundly impoverished and lack basic infrastructure.
The name "Yangon" is derived from the combination of the Burmese words yan and koun, which mean "enemies" and "run out of", respectively. This word combination is translated as "End of Strife"; the city's colonial era name, "Rangoon" is derived from the Anglicization of the Arakanese pronunciation of "Yangon", which is. Yangon was founded as Dagon in the early 11th century by the Mon, who dominated Lower Burma at that time. Dagon was a small fishing village centred about the Shwedagon Pagoda. In 1755, King Alaungpaya conquered Dagon, renamed it "Yangon", added settlements around Dagon; the British captured Yangon during the First Anglo-Burmese War, but returned it to Burmese administration after the war. The city was destroyed by a fire in 1841; the British seized Yangon and all of Lower Burma in the Second Anglo-Burmese War of 1852, subsequently transformed Yangon into the commercial and political hub of British Burma. In 1853, the British moved the capital of Burma from Moulmein to Yangon. Yangon is the place where the British sent Bahadur Shah II, the last Mughal emperor, to live after the Indian Rebellion of 1857.
Based on the design by army engineer Lt. Alexander Fraser, the British constructed a new city on a grid plan on delta land, bounded to the east by the Pazundaung Creek and to the south and west by the Yangon River. Yangon became the capital of all British-ruled Burma after the British had captured Upper Burma in the Third Anglo-Burmese War of 1885. By the 1890s Yangon's increasing population and commerce gave birth to prosperous residential suburbs to the north of Royal Lake and Inya Lake; the British established hospitals including Rangoon General Hospital and colleges including Rangoon University. Colonial Yangon, with its spacious parks and lakes and mix of modern buildings and traditional wooden architecture, was known as "the garden city of the East." By the early 20th century, Yangon had public services and infrastructure on par with London. Before World War II, about 55% of Yangon's population of 500,000 was Indian or South Asian, only about a third was Bamar. Karens, the Chinese, the Anglo-Burmese and others made up the rest.
After World War I, Yangon became the epicentre of Burmese independence movement, with leftist Rangoon University students leading the way. Three nationwide strikes against the British Empire in 1920, 1936 and 1938 all began in Yangon. Yangon was under Japanese occupation, incurred heavy damage during World War II; the city was retaken by the Allies in May 1945. Yangon became the capital of the Union of Burma on 4 January 1948 when the country regained independence from the British Empire. Soon after Burma's independence in 1948, many colonial names of streets and parks were changed to more nationalistic Burmese names. In 1989, the current military junta changed the city's English name to "Yangon", along with many other changes in English transliteration of Burmese names. Since independence, Yangon has expanded outwards. Successive governments have built satellite towns such as Thaketa, North Okkalapa and South Okkalapa in the 1950s to Hlaingthaya and South Dagon in the 1980s. Today, Greater Yangon encompasses an area covering nearly 600 square kilometres.
During Ne Win's isolationist rule, Yangon's infrastructure deteriorated through poor maintenance and did not keep up with its increasing population. In the 1990s, the current military government's more open market policies attracted domestic and foreign investment, bringing a modicum of modernity to the city's infrastructure; some inner city residents were forcibly relocated to new satellite towns. Many colonial-period buildings were demolished to make way for high-rise hotels, office buildings, shopping malls, leading the city government to place about 200 notable colonial-period buildings under the Yangon City Heritage List in 1996. Major building programs have resulted in six new bridges and five new highways linking the city to its industrial back country. Still, much of Yangon remains without basic municipal services such as 24-hour electricity and regular garbage collection. Yangon has become much more indigenous Burmese in its ethnic make-up since independence
Retail banking known as consumer banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, personal loans, debit cards, credit cards. Retail banking is distinguished from investment banking or commercial banking, it may refer to a division or department of a bank which deals with individual customers. In the U. S. the term commercial bank is used for a normal bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, investment banks were limited to engaging capital market activities; that distinction was repealed in the 1990s. Commercial bank can refer to a bank or a division of a bank that deals with deposits and loans from corporations or large businesses, as opposed to individual members of the public.
Typical retail banking services offered by banks include: Transactional accounts Checking accounts Current accounts Savings accounts Debit cards ATM cards Credit cards Traveler's cheques Mortgages Home equity loans Personal loans Certificates of deposit/Term depositsIn some countries, such as the U. S. retail bank services include more specialised accounts, such as: Sweep accounts Money market accounts Individual Retirement Accounts Community development bank are regulated banks that provide financial services and credit to underserved markets or populations. Private banks manage the assets of high-net-worth individuals. Offshore banks are banks located in jurisdictions with low regulation. Many offshore banks are private banks. Savings banks accept savings deposits. Postal savings banks are savings banks associated with national postal systems. Banking institution Bank
Banking in India
Banking in India, in the modern sense, originated in the last decade of the 18th century. Among the first banks were the Bank of Hindustan, established in 1770 and liquidated in 1829–32; the largest bank, the oldest still in existence, is the State Bank of India. 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 given control of eight state-associated banks under the State Bank of India Act, 1959; these are now called its associate banks.
In 1969 the Indian government nationalised 14 major private banks, one of the big bank was Bank of India. In 1980, 6 more private banks were nationalised; these nationalised banks are the majority of lenders in the Indian economy. They dominate the banking sector because of widespread networks; the Indian banking sector is broadly classified into non-scheduled banks. The scheduled banks are those included under the 2nd Schedule of the Reserve Bank of India Act, 1934; the scheduled banks are further classified into: nationalised banks. The term commercial banks refers to both scheduled and non-scheduled commercial banks regulated under the Banking Regulation Act, 1949; the supply, product range and reach of banking in India is mature-even though reach in rural India and to the poor still remains a challenge. The government has developed initiatives to address this through the State Bank of India expanding its branch network and through the National Bank for Agriculture and Rural Development with facilities like microfinance.
The Vedas are the earliest Indian texts to mention the concept of usury, with the word kusidin translated as "usurer". The Sutras and the Jatakas mention usury. Texts of this period condemned usury: Vasishtha forbade Brahmin and Kshatriya varnas from participating in usury. By the 2nd century CE, usury became more acceptable; the Manusmriti considered usury an acceptable means of leading a livelihood. It considered money lending above a certain rate and different ceiling rates for different castes a grave sin; the Jatakas and Kautilya mention the existence of loan deeds, called rnapatra, rnapanna, or rnalekhaya. During the Mauryan period, an instrument called adesha was in use, an order on a banker directing him to pay the sum on the note to a third person, which corresponds to the definition of a modern bill of exchange; the considerable use of these instruments has been recorded. In large towns, merchants gave letters of credit to one another; the use of loan deeds were called dastawez. Two types of loans deeds have been recorded.
The dastawez-e-indultalab was payable on demand and dastawez-e-miadi was payable after a stipulated time. The use of payment orders by royal treasuries, called barattes, have been recorded. There are records of Indian bankers using issuing bills of exchange on foreign countries; the evolution of hundis, a type of credit instrument occurred during this period and remain in use. During the period of British rule merchants established the Union Bank of Calcutta in 1829, first as a private joint stock association partnership, its proprietors were the owners of the earlier Commercial Bank and the Calcutta Bank, who by mutual consent created Union Bank to replace these two banks. In 1840 it established an agency at Singapore, closed the one at Mirzapore that it had opened in the previous year. In 1840 the Bank revealed that it had been the subject of a fraud by the bank's accountant. Union Bank was incorporated in 1845 but failed in 1848, having been insolvent for some time and having used new money from depositors to pay its dividends.
The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India, it was not the first though. That honour belongs to the Bank of Upper India, established in 1863 and survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Simla. Foreign banks too started to appear in Calcutta, in the 1860s. Grindlays Bank opened its first branch in Calcutta in 1864; the Comptoir d'Escompte de Paris opened a branch in Calcutta in 1860, another in Bombay in 1862. HSBC established itself in Bengal in 1869. Calcutta was the most active trading port in India due to the trade of the British Empire, so became a banking centre; the first Indian joint stock bank was the Oudh Commercial Bank, established in 1881 in Faizabad. It failed in 1958; the next was the Punjab National Bank, established in Lahore in 1894, which has survived to the present and is now one of the largest banks in India. Around the turn of the 20th Century, the Indian economy was passing through a relative period of stability.
Around five decades had elapsed since the Indian rebellion, the social and other infrastructure had im