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Bank Holidays - Measuring The Systematic Importance Of Banks In Indian Economy

Author : mukeshkr kumarkr




Banks are playing an important role for the development of Indian economy. Recently banking system has been improved after liberalization and major changes have been done to measure the systematic importance of banks in Indian economy. The economic and financial reforms have been improved completely banking sector. Mostly, many entrepreneurs and businesses has to be done many financing task with a bank. It has seen that when any company is doing struggle, then your relations with your banker can be damaged. These all banking activities can be possible only when banks are found closed on these days. These days are known as bank holidays and public holidays depend on a variety of factors like acts that identify such holidays as well as festivities when a bank holiday is in order.

Banks have great importance in performing various roles in Indian economy and how can Indian economy grow and develop rapidly, this is very important factor for banking system in India during bank holidays in India. Prime function of a bank is to modernize the information problems between investors and borrowers by monitoring the latter and ensuring a proper use of the depositors' funds. Secondly, they provide intertemporal smoothing of risk, which can be varied in required time as well as insurance to depositors against unexpected Consumption shocks. Thirdly, banking has great contribution for the growth and development of Indian economy. Fourthly, banks perform a major role in corporate governance. The various roles of banks differ significantly across countries and times but, banks are very critical to the financial system.

2011 Bank holidays are announced by Reserve Bank of India (RBI) and sometimes bank holidays can be declared by bank holidays calendar. These holidays may vary from state to state as festivals and events are unique to each state. There may be no transactions made when banks are found closed. Some of the bank holidays in India are known as optional and gazzetted holidays declared by RBI. To understand various functions of banks in the financial system is one of the most fundamental issues in academic finance and economics. So, all the functions of banking system can be modernized to use latest banking system properly.

Bank holidays in USA represents public holidays when the banks do not operate. Bank holidays are special holidays for different festivals, national holidays and public events. When Bank holidays will remain closed, this information is very important for every customer because of everyone wants to do transactions in bank almost every alternate day. Bank will be closed on special occasions or government holidays, it can be decided by the reserve bank of India RBI and negotiable act of the banks. Bank holidays are very important as every bank has a lot of task to sum up in minimum time and results into beneficial status. Bank holidays are considered not only yearly, but also these holidays are scheduled on the bases of months. Therefore, every customer should have awareness about the expected days when bank will remain closed and consequently they can do their important work before holiday.


Author's Resource Box

The bank holidays generally celebrate in the US and UK and you can also said it as public holidays. Now days, it has celebrated in several countries. You can get here bank holidays calendar to familiar with 2011 bank holidays. Get also familiar with bank holidays in india.


Article Source:
Articlebliss

Tags:   bank holidays, 2011 bank holidays, bank holidays calendar, banks holidays in india, bank holidays in usa

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Submitted : 2011-07-15    Word Count : 575    Times Viewed: 599