A STUDY ON DEPOSIT MOBILISATION OF INDIAN OVERSEAS BANK WITH REFERENCE TO VELACHERY BRANCH

INTRODUCTION
Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955. Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector banks(that is with the Government of India holding a stake), 31 private banks(these do not have government stake; they may be publicly listed and traded on stock exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75% of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. Banking has played a very important role in the economic development of country. It is the life-blood of trade and commerce. They are so important that modern business is certainly impossible without them, and no country can achieve commercial and industrial progress in the absence of a sound banking system. Banking systems play a pivotal role in the economic development of a country like India. Their performance is all more important. Their activities are to be directed in such a way that they function effectively and efficiently. In addition to lending and borrowing of money, a modern bank performs a host of other functions. All of which are not considerable utility to its customers and the community generally. According to sec.5(b) of the Banking Regulation Act 1940, banking means, the accepting for the purpose of lending or investment of deposit money from the public repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise. In

short banking is acceptance of money with one hand and lending it through the order. The foreign banks were the first bank established in India. These are known as exchange banks. Objectives of the study 1. To examine the growth and development of deposit mobilization of Indian overseas bank 2. To analyze the trend in deposits of Indian overseas bank, Velachery Branch. 3. To evaluate the deposit mobilization scheme of Indian overseas bank Statement of the problem The basic objective behind the bank is to serve the public. Banks attract the different types of customers by providing different deposit schemes offered at higher rate interest and there by encourage investment in economy, trade, and commerce. The deposit of Indian overseas bank, one of the leading nationalized banks, is taken for the study to analysis the deposit growth through this selected. The problem under the study is to analyse the deposit mobilization of the bank and its trend over last years. Methodology The study is both descriptive and analytical in nature. For the purpose of study both primary and secondary data were used. The primary data required for the study have been collected by means of discussion with officials of the bank. Secondary data required for the study have been collected from the journals, annual reports and other documents of the bank. Tools and techniques Various statistical tools like Percentages, Ratios, Compound growth rates are used.
STATEMENT OF THE PROBLEM The study has been conducted to know the various deposit schemes offered by Indian overseas bank with different interest rates and benefits for mobilizing their deposits..

Put into a bank account Act of assembling and putting into readiness for war or other emergency

A STUDY ON DEPOSIT MOBILISATION OF INDIAN OVERSEAS BANK WITH REFERENCE TO VELACHERY BRANCH

SCOPE OF THE STUDY The project is mainly concerned with deposit section. The main area covered under this study is various schemes offered by nationalized banks with different interest rates and benefits to attract deposit amount.

NEED FOR THE STUDY The importance of the study is to develop the deposit mobilization and the various schemes, interest rates offered by different banks to have their own uniqueness to attract funds from the investors

OBJECTIVES OF THE STUDY The main objective of the study: To study on deposit mobilization with reference to Indian overseas bank.

Secondary objectives: To find out the various schemes offered by Indian overseas bank for mobilizing deposits. To find out the savings and investment modes offered by bank To identify which deposit scheme is really performing well in the bank