Functions of state bank of India

The functions of SBI can be grouped under two categories, viz., the Central Banking functions and ordinary banking functions. A. Central Banking Functions: The SBI acts as agent of the RBI at the places where the RBI has no branch. Accordingly, it renders the following functions: (a) Banker to the government (b) Banker to banks in a limited way (c) Maintenance of currency chest (d) Acts as clearing house (e) Renders promotional functions (1) Banker to the Government: The SBI functions as the banker to the central and state governments. It receives and pays money on behalf of the governments. Especially it renders the following functions as directed by the RBI in this regard. (a) Collection of charges on behalf of the government e.g. collection of tax and other payments (b) Grants loans and advances to the governments (c) provides advises to the government regarding economic conditions, etc., (2) Banker's Bank: Commercial Banks have accounts with SBI. When the banks face financial shortage, the SBI provides assistance to them as it is considered a big brother in the banking industry. It discounts the bills of the other commercial banks. Due to the functions on this line the SBI is considered in a limited sense as the banker's bank. (3) Currency Chest: The RBI maintains currency chests at its own offices. But RBI Offices are situated only in big cities. SBI, buy its wide network of branches operate in urban as well as rural areas. RBI therefore, in such places keeps money at currency chests with SBI. Whenever needs arise, the currency is withdrawn from these chests under proper accounting and reporting to RBI. Presently RBI entrust currency chest to other Public Sector Banks and a few Private Sector Banks also. (4) Acts as Clearing House:

In all the places, where RBI has no branch, the SBI renders the functions of clearing house. Thus, it facilitates the inter bank settlements. Since, all the banks in such places have accounts with SBI; it is easy for the SBI, to act as clearing house. (5) Renders Promotional Functions: State Bank of India also renders various promotional functions. It provides various facilities to the following priority sectors: (i) Agriculture (ii) Small - Scale Industries (iii) Weaker sections of the society (iv) Co-operative sectors (v) Small - traders (vi) Unemployed Youth (vii) Others. In this respect SBI is like any other commercial bank. B. General Banking Functions Besides the above specialized functions, the SBI renders the following functions under Section 33 of the Act. 1. Accepting deposits from the public under current, savings, fixed and recurring deposit accounts. 2. Advancing and lending money and opening cash credits upon the security of stocks, securities, etc. 3. Drawing, accepting, discounting, buying and selling of bills of exchange and other negotiable instruments. 4. Investing funds, in specified kinds of securities. 5. Advancing and lending money to court of wards with the previous approval of State Government. 6. Issuing and circulating letters of credit. 7. Offering remittance facilities such as, demand drafts, mail transfers telegraphic transfers, etc. 8. Acting as administrator, executor, trustee or otherwise. 9. Selling and realizing the movable or immovable properties that come into the banks in satisfaction of claims. 10. Transacting pecuniary agency business on commission stocks. 11. Underwriting of the issue of authorized shares debentures, and other securities. (This function is done through subsidiaries now)

12. Buying and selling of gold and silver. 13. It operates Public Provident Fund Accounts for the general public. 14. It operates Non-Resident External Accounts and Foreign Currency Accounts. 15. Providing Factoring service (through subsidiaries). 16. Provides shipping finance. 17. Promotes Export through Export Credit. Provides Project Export Finance. 18. Provides Merchant Banking Facilities. 19. Provides specialized services like "Global Link Services ". 20. Promotes housing finance through "SBI Home Finance Ltd ". 21. Offers community services Banking. It provides grants to many socially relevant research projects undertaken by various universities and academic institutions in the country. 22. Provides Leasing Finance and Project Finance Facilities. 23. Participates in Lead Bank Scheme. 24. The State Bank may with the sanction of the Central Government, enter into negotiations for acquiring the business of any other Banking Institutions.

The functions of the State Bank of India. The Imperial Bank of India was nationalized in 1957 and after nationalization it was renamed as the State Bank of India. The functions of the commercial banks may be broadly classified into two categories called:

Primary functions Subsidiary functions The primary functions of the State Bank of India are as follows:

Like other banks, it grants loans and deals in bills of exchange and hundies. If functions as a Govt. Bank where Reserve Bank of India does not exist. it undertake treasury functions on behalf of the government. The subsidiary functions of the State Bank of India are as follows:

It helps in issuing bank drafts at the time of transferring of funds. It helps in investing in securities. It purchases bills upto 15 months and issues foreign bills of exchange. It performs other banking functions of a commercial Bank.

Meaning Of Recruitment
According to Edwin B. Flippo, Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organisation. Recruitment is the activity that links the employers and the job seekers. A few definitions of recruitment are: A process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected It is the process to discover sources of manpower to meet the requirement of staffing

schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of an efficient working force.

Recruitment of candidates is the function preceding the selection, which helps create a pool of prospective employees for the organisation so that the management can select the right candidate for the right job from this pool. The main objective of the recruitment process is to expedite the selection process. Recruitment is a continuous process whereby the firm attempts to develop a pool of qualified applicants for the future human resources needs even though specific vacancies do not exist. Usually, the recruitment process starts when a manger initiates an employee requisition for a specific vacancy or an anticipated vacancy.

RECRUITMENT NEEDS ARE OF THREE TYPES PLANNED i.e. the needs arising from changes in organization and retirement policy. ANTICIPATED Anticipated needs are those movements in personnel, which an organization can predict by studying trends in internal and external environment. UNEXPECTED Resignation, deaths, accidents, illness give rise to unexpected needs.

Purpose & Importance Of Recruitment

Attract and encourage more and more candidates to apply in the organisation. Create a talent pool of candidates to enable the selection of best candidates for the organisation. Determine present and future requirements of the organization in conjunction with its personnel

planning and job analysis activities. Recruitment is the process which links the employers with the employees.

 Increase the pool of job candidates at minimum cost. Help increase the success rate of selection process by decreasing number of visibly under qualified or overqualified job applicants. Help reduce the probability that job applicants once recruited and selected will leave the

organization only after a short period of time. Meet the organizations legal and social obligations regarding the composition of its workforce. Begin identifying and preparing potential job applicants who will be appropriate candidates. Increase organization and individual effectiveness of various recruiting techniques and sources for all types of job applicants

Sources Of Recruitment
Every organization has the option of choosing the candidates for its recruitment processes from two kinds of sources: internal and external sources. The sources within the organization itself (like transfer of employees from one department to other, promotions) to fill a position are known as the internal sources of recruitment. Recruitment candidates from all the other sources (like outsourcing agencies etc.) are known as the external sources of recruitment.

SOURCES OF RECRUITMENT

i.MakeorBuyEmployeesii.TechnologicalSophisticationofRecruitmentandSelectionDevicesiii.Geo graphicdistributionoflabourmarketscomprisingjobseekersiv.SourcesOfRecruitmentInternalsource sExternalsources

i.SourceActivation:SourceActivationtakesplacewhenajobvacancyexistsintheo rganization.Iftheorganizationhasplannedandwellanddoneagoodjobofdevelopin gitssourceandsearchmethods,activationsoonresultsinafloodofapplication.ii.Sel ling:Insellingthe,boththeMessageandMediadeserveattentionintheorganization. Messagereferstotheemploymentadvertisements.Mediareferstothesourceofanyr ecruitingmessage.Forexample,EmploymentExchanges,AdvertisesinBusiness magazines