Modern Banking In Australian International Context Finance Essay

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Modern banking depends on the money supply. Money supply can be of two types. Assets that is ready to use for purchasing anything. This is also known as liquid assets. In second type all liquid assets and assets which are not in cash form but anytime can be converted into cash. It can be like market share or funds. Saving funds is also the example of second type of money supply.

In this modern world the banking system is becoming modern in different ways.

The role of Modern banking in Australian & International context:

The Modern Banking starts with a survey of the conventional thought of keeping money. A bank is a ¬nancial ¬rm which offers advance and store features available, besides coddles the altering liquidity needs of its borrowers and investors. There are numerous different sorts of ¬nancial foundation, and certain banks offer different items and aids, yet it is the aforementioned two methods which are banks’ recognizing qualities and demonstrate why banks exist in up to date economies. The role of modern banking is to play a role of intermediaries between borrowers and investors. (Shelagh, 2005)

Another role of modern banking is the structure of the bank and their payment system and transaction system. One topic of this part is that banks contrast from other ¬nancial ¬rms for the reason that they performing as go-betweens and furnish liquidity. Banks need a framework for handling the charges and credits rolling out from the aforementioned keeping money transactions. The installment framework is a result of intermediation, and aids the exchange of proprietorship claims in the ¬nancial sector. Credits and charges are exchanged between the related gatherings. Table 1 show that cash payments are very stable in the 20th century. To get of rid this risk modern banking helps a lot in transferring bulk amount online through banking channels. All over the world there more than 1018 million using internet banking, thus the internet banking increase the growth of the customers and it is an effective way of increasing the customer. (Lichtenstein & Williamson, 2006)

Table

1990

1995

2000

2003

Cash Payments

28023

26270

27910

25859

Cheques

3975

3203

2699

2251

ATM withdrawals

1045

1471

2027

2373

Number of ATM cards

47

55

73

88

Plastic Cards

1741

2413

3914

5317

BACs Clearing

1820**

2476

3527

4060

CHAPS clearing

9**

13

25

33

Cheque & Credit

2513**

2314

1981

1660

** 1992 figures

Source: APACS (2003),

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