{"id":232231,"date":"2023-03-18T19:00:36","date_gmt":"2023-03-18T13:30:36","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=232231"},"modified":"2023-08-28T14:28:59","modified_gmt":"2023-08-28T08:58:59","slug":"yojana-march-2023-summary-banking-focus-on-new-responsibilities-and-good-governance","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/yojana-march-2023-summary-banking-focus-on-new-responsibilities-and-good-governance\/","title":{"rendered":"[Yojana March 2023 Summary] Banking: focus on new responsibilities and good governance – Explained, pointwise"},"content":{"rendered":"\n\n\n\n
For\u00a07PM Editorial<\/strong>\u00a0Archives click\u00a0HERE <\/a>\u2192<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Introduction<\/span><\/b><\/h2>\n

Banks<\/span> have<\/span> been<\/span> traditionally<\/span> known<\/span> for<\/span> accepting<\/span> deposits<\/span> and<\/span> giving<\/span> loans.<\/span> However,<\/span> the<\/span> definition<\/span> of<\/span> a<\/span> bank<\/span> has<\/span> expanded<\/span> beyond<\/span> just<\/span> a<\/span> physical<\/span> building.<\/span> Today,<\/span> the<\/span> banking<\/span> system<\/span> has<\/span> evolved<\/span> into<\/span> a<\/span> secure<\/span> and<\/span> robust<\/span> medium<\/span> that<\/span> offers<\/span> innovative<\/span> deposit<\/span> schemes,<\/span> secure<\/span> money<\/span> storage,<\/span> and<\/span> quick<\/span> loan<\/span> transactions.<\/span><\/p>\n

Banks<\/span>\u00a0are<\/span> no<\/span> longer<\/span> just<\/span> a<\/span> conglomerate<\/span> of<\/span> traditional<\/span> banks<\/span>\u00a0but<\/span> have<\/span> also<\/span> incorporated<\/span> new<\/span> forms<\/span> of<\/span> banks<\/span> such<\/span> as<\/span> payment<\/span> banks,<\/span> small<\/span> finance<\/span> banks,<\/span> and<\/span> even<\/span> the<\/span> general<\/span> banking<\/span> system<\/span> of<\/span> post<\/span> offices<\/span> and<\/span> non-banking<\/span> financial<\/span> companies.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Banking provisions in the budget<\/span><\/b><\/h2>\n
\"Banking
Source: PIB<\/figcaption><\/figure>\n

Discussions<\/span> about<\/span> the<\/span> banking<\/span> provisions<\/span> in<\/span> budgets<\/span> have<\/span> broadened<\/span> to<\/span> include<\/span> topics<\/span> like<\/span> tax<\/span> concessions,<\/span> capital<\/span> provisions,<\/span> and<\/span> the<\/span> role<\/span> of<\/span> these<\/span> new<\/span> forms<\/span> of<\/span> banks<\/span> in<\/span> the<\/span> financial<\/span> system. <\/span>T<\/span>he<\/span> General<\/span> Budget<\/span> 2023-24<\/span> for<\/span> the<\/span> banking<\/span> sector<\/span> can<\/span> be<\/span> analysed<\/span> by<\/span> dividing<\/span> it<\/span> into<\/span> five<\/span> parts:<\/span>\u00a0<\/span><\/p>\n