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competition success review magazine subscription  published this article page no202

With the advent of modern banking, management of money shifted from the home to the bank. People found it safer to deposit money and jeweler in the bank which had vaults to safeguard their wealth. Also, banks offered interest on deposits which meant additional income. Banks, on their side, began to invest these deposits in various stocks and securities. Thus, began a new system of investment banking and corporate banking. Government money, too, passed from the treasury of the king to the central bank which slowly became the monetary policy regulator also. Today, one cannot visualize an economy without a central regulatory bank. The central bank, in India's case, the Reserve Bank of India, is no longer a parker of government funds but has become the monetary policy regulator of currency, et al. competition success review magazine subscription