project report on hero company
Summer internship project report on:
RETAIL ASSETS
PERSONAL LOAN
Submitted by: Mr. Pankaj Yadav
INTRODUCTION
INDUSTRY PROFILE
ORIGIN AND DEVELOPMENT OF COMPANY
The origin of banking in India is traceable in ancient time through the modern banking hardly 200 years old. The main functions of a bank are to accept deposits and grant loans. There are evidences of these functions being performed by a section o the community in the Vedic periods. There are many references of Debt in the Vedic Literature. During the Ramayana and Mahabharata eras banking, which was a side businesses during the Vedic period, became a full-time business activity for the people. During the Smriti period, the banking business was carried on by the members of the Vanish community and Manu speaks of earning through interest as the business of Vaishyas. He accepted deposits from the public, granted loans against pledges and personal security, granted simple open loans, acted as bailee for his customers, subscribed to public loans by granting loans to kings, acted as treasurer and banker to the state and managed the currency of the country. Indigenous bankers used to maintain a regular system of accounts and borrowers used to sign the loan deeds.
Money changing came into vogue and the state regulation of the business became more systematic.
Indigenous bills of exchange came also in use.
The maximum rates of interest were fixed.
DEVELOPMENT FROM INDEPENDENCE UNTILL 1991
At the time of Independence in 1947, the banking system in India was fairly well developed with over 600 commercial banks operating in the country. However, soon after Independence, the view that the banks from the colonial heritage were biased in favor of working-capital loans for trade and large
RETAIL ASSETS
PERSONAL LOAN
Submitted by: Mr. Pankaj Yadav
INTRODUCTION
INDUSTRY PROFILE
ORIGIN AND DEVELOPMENT OF COMPANY
The origin of banking in India is traceable in ancient time through the modern banking hardly 200 years old. The main functions of a bank are to accept deposits and grant loans. There are evidences of these functions being performed by a section o the community in the Vedic periods. There are many references of Debt in the Vedic Literature. During the Ramayana and Mahabharata eras banking, which was a side businesses during the Vedic period, became a full-time business activity for the people. During the Smriti period, the banking business was carried on by the members of the Vanish community and Manu speaks of earning through interest as the business of Vaishyas. He accepted deposits from the public, granted loans against pledges and personal security, granted simple open loans, acted as bailee for his customers, subscribed to public loans by granting loans to kings, acted as treasurer and banker to the state and managed the currency of the country. Indigenous bankers used to maintain a regular system of accounts and borrowers used to sign the loan deeds.
Money changing came into vogue and the state regulation of the business became more systematic.
Indigenous bills of exchange came also in use.
The maximum rates of interest were fixed.
DEVELOPMENT FROM INDEPENDENCE UNTILL 1991
At the time of Independence in 1947, the banking system in India was fairly well developed with over 600 commercial banks operating in the country. However, soon after Independence, the view that the banks from the colonial heritage were biased in favor of working-capital loans for trade and large