The assassination of former Prime Minister Mr. Rajiv Gandhi seized the entire country into a grievous situation. To add to the misery, the whole economic front of the country was in doldrums. As it is, there were only a handful people who used to avail the banking facilities, they too lost faith in the banks. The country found itself neck deep in debts and destitute. At that juncture, few conscious steps towards the recovery path by the succeeding Prime Minister P.V. Narasimha Rao, made us pull ourselves out of this gloomy situation. Not only did we recover from the dubious financial circumstances, but we made our position in the world economic front. Today, Indian banking system is one of the best banking service all over the world.

The foreign investors who saw India as a hub of their future plans, had to think otherwise due to the hostile attitude of the banks. But today we are welcoming investors from far and wide and we are all geared up with a range of schemes that can make their plans to invest in India a success.

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The Indian economy went through a severe turmoil after the assassination of former Prime Minister Mr. Rajiv Gandhi. The whole country suffered due to the staggering condition of the economy. The rising burden of debts to the World Bank was the major concern of the country. Thanks to the Narasimha Government, the reforms introduced by this government pulled the entire country out of that pitiable circumstance. The banking system got reformed and the economy came out well. Today, we have not only emerged as survivors but have also made ourselves tougher than ever.

The banks are being made customer friendly. New innovative plans are planned and implemented these days, keeping in view the interest of the customers, and are replacing the old, rigid schemes. Flexibility, user-friendliness, ease and gain are the key aspects which are being kept in mind before designing the new plans of action for the Indian banks.

Account types like saving account, current account, recurring deposits are being widely used by the people of India who once were reluctant to trust the banks for their money. The banking system has not only gained the faith of the customers, but had also made itself the best possible mode to treasure, multiply and transfer the hard-earned money of the customers.

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One of the most amazing boons of the advanced technology is a credit card that helps the customers to enjoy their shopping with just one swipe. Credit cards are playing a major role in India as most of the Indians are middle class people and find it hard to meet their needs and are usually unable to pay money for their purchases at one or another point of time.

So, credit cards in India are helping the people to borrow money or to buy products in an easy way. They are also offering financial help to the people when they are in need of quick money. With the entry of foreign banks in India, credit cards have become popular among the Indians. The main sources to get credit cards in India are banks, some of the private organisations and even some retail stores. Some of the well-known banks that are issuing these cards are the State Bank of India, ICICI, HDFC, ABN AMRO, Standard Chartered, Citibank and HSBC.

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Do you still queue up in the bank to pay your credit card bills or patiently wait for your bank statement to arrive in the mail? Welcome to the internet age. Online banking has now become an alternative to going to the bank physically to transact business. It uses today’s advanced computer technology to give users the option of doing away with the time-consuming and paper-based aspects of conventional banking in order to better manage finances more efficiently and easily.

With internet banking, you can monitor and perform banking transactions online, whenever and wherever you want as long as there is internet access. It lets you bank with maximum convenience, ease and security through the latest technology and it is for free.

Online banking offers a varied array of convenient and secure features for customer banking needs. Suffice it to say, you can do almost everything you need to do from the comfort of your home or office. Moreover, internet banking has been enhanced with even more customer-friendly improvements to make online banking much easier and safer.

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I have to admit to being slightly in awe of my accountant Michael. My visits with him are rather like those with my doctor, except Michael’s never once asked me to unbutton my blouse. Instead, he intimately exposes my financial vulnerability, running a slender finger down the trail of indecent consumerism that has become my life of late. He looks at me almost tenderly, like a father to a small child, one eyebrow raised in Roger Moorish amusement. Smiles an easy smile, and tells me that ‘managing money is not my forte’.

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Banking has never been so easy and convenient. With a variety of banking services now made available on the internet, online banking serves as a perfect option for the busy people not only the professionals, businessmen and frequent travelers but also the home-based workers and housewives who attend to so many chores as well.

The services offered by banks that have gone online and the purely online banks are actually very similar those offered by the traditional banks. Sometimes, though, there are features and marketing promotions unique only to online banking and not found in the brick-and-mortar banks. Another difference seen is the fewer fees charged on online banking services owing to the reduced overhead expenses of the bank.

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When it comes to small business banking, this can be a confusing issue for those just starting out. Some banks will use this situation to get the most out of those customers and independent advice on small business banking is always a good idea.

One of these issues regarding the finances of small businesses is the problem of staff. Offering staff enough incentive to stay with the smaller firm and not succumb to the added bonuses and attractions of a larger corporate firm is a hurdle to be overcome.

Small business banking dictates that large salaries and perks are not possible. However, there are some things that can be done. There are schemes that are currently running where small business managers can offer their staff the chance of private healthcare plans. These are discounted to the company and also have the added advantage of reducing time employees take off work sick. This is a bonus to small business banking as no money is lost through sick employees or having to find temporary staff and pay their wages too.

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