Financial services in India are the focus of topics in this category. Appropriate topics for this category include accounting and bookkeeping services in India, Indian actuaries, banks, credit unions (known as cooperative banks), insurance companies, mortgage companies, and financial consulting services.
Banking began in India in the late 1700s. The country's largest bank and the oldest still in operation is the State Bank of India, which was originally incorporated as the Bank of Calcutta in 1806, taking its current name in 1955 after a merger of three banks in 1921. The State Bank was given authority over eight banks associated with the state in 1960, which became its associate banks. The government of India nationalized several private banks in 1969 and still others in 1980. These banks now dominate the banking industry and are the majority lenders in India.
India has scheduled and non-scheduled banks. Scheduled banks are all those named in the 2nd Schedule of the Reserve Bank of India Act of 1965, while all others are known as non-scheduled banks. Most of the banks in India are scheduled banks, although there are a few that have been granted an exemption.
In the 1990s, the Indian government began licensing private banks, although not many. The banking system in India is believed to be stable
Mortgage lenders in India are the loan providers of the banking and insurance sectors. Their functions are to provide loans for a variety of purposes, using real estate as security.
In India, personal savings are most often invested in physical assets like land, houses, gold, or cattle. Lending in India is conducted through its scheduled banks or through family-owned bankers, money lenders, or non-bank financial companies. People in India's rural areas are more likely to use private money lenders or non-bank lenders, largely because the reach of the more organized banks is minimal in some of the country's rural areas.
Accounting services in India, as anywhere, includes such services as auditing, financial accounting, management accounting, tax accounting, and accounting information systems, which are regulated by the Securities and Exchange Board of India.
A growing financial sector in India is bookkeeping. Small or medium-sized businesses throughout the world may opt to outsource their financial bookkeeping services in order to save the cost of retaining their own accounting division.
Any financial services or facilities in India are appropriate topics for this category.
Recommended Resources
The Bank of Baroda is a financial services company and bank, headquartered Gujarat, India, with corporate offices in Mumbai. Over the years, several banks have merged with the Bank of Baroda. Its accounts, deposits, loans, and debit/credit card services are recognized, and various digital services are included. Its personal, business, rural, and agricultural products are introduced.
https://www.bankofbaroda.com/
Founded in 1906, the Bank of India has been government-owned since it was nationalized in 1969. Headquartered at Bandra Kurla complex in Mumbai, BOI ha more than five thousand branches, including fifty-six office outside of India. Its products, programs, and services are tendered, and mobile banking and payments are brought attention to. Career opportunities are published on the site.
https://www.bankofindia.co.in/
Bombay Chartered Accountants’ Society
The BCAS is a volunteer organization of accountants in what is now Mumbai, India, established in 1949, offering various services and benefits to its membership, which are outlined here. Enrollment forms may be downloaded from the site. Various publications and apps may be downloaded from the site or subscribed to, and other educational articles may be viewed online. Other publications can be purchased from its online store.
http://www.bcasonline.org/
Established in 1907, Indian Bank is a state-owned financial services company headquartered in Chennai, India, with more than two thousand branches, including overseas branches in seventy-five countries, and Foreign Currency Banking Units at Colombo and Singapore. Its products, loans and deposits programs and other services are acknowledged, and lending and deposit rates, service charges, and contacts are included.
http://www.indianbank.in/
Institute of Chartered Accountants of India
The ICAI is the national professional accounting body of India. Established by statute in 1949, the Institute regulates the chartered accountancy industry in India. An overview of the Institute and its roles are set forth, including its committees and departments, members, offices, and contacts. Resources to help students prepare for ICAI designed courses, as well as for members and employers. A calendar of events is included.
https://www.icai.org/
The chartered accountant firm is headquartered in Mumbai, India, from where it assists foreign companies in deciding upon an appropriate structure for business operations in India, whether a liaison office, branch office, or subsidiary company, as well as advising non-resident Indians on financial affairs. Its team is introduced and its services are discussed, client profiles are included, and contacts are posted to the site.
https://www.kdpaccountants.com/
Based in New Delhi, India, Lendbox is a peer-to-peer electronic lending system that offers lower interest rates for borrowers and increases investor yields by not using commercial banks or other mediators. Open only to resident Indians above the age of twenty-one, an explanation of how the system works is related, with specific information for investors and borrowers. Applications may be made through the site.
https://www.lendbox.in/
The chartered accountants firm is in Delhi, Gurgaon, India, from where it offers a full range of accounting and financial services, including auditing, accounting and payroll outsourcing services, business tax planning, financial planning services, company formation in India, and business set up services, which are highlighted here, along with a client list, testimonials, and career opportunities.
http://www.charteredaccountant-india.com/
SKP has offices in seven cities in India, specializing in business and tax guidance and accounting services to international companies who are doing business in India, or interested in initiating business in India, as well as Indian businesses expanding overseas. A profile of the company, its awards, memberships, and an overview of its services are set forth, with specific information on its services in the United States, the United Arab Emirates, and Japan.
http://www.skpgroup.com/
