<bold>Geoffrey Lipscombe and Keith Pond, <italic>The Business of Banking</italic> (fourth edition). New Delhi: New Age International (P) Limited, Publishers, 2005. x+272 pp. Rs. 150 paperback.</bold>In today's context the relevance and the role of Banking in the economy is known to almost everyone. Customers to a bank could be individuals or institutions. The advent of IT technology and Internet has revolutionized the role of banking in personal or corporate dealings. Today personal banking covers deposits, loans (house/car loans, etc.), investments, insurance, ATMs, mobile banking and so on, while corporate banking covers corporate net banking, cash management, trade services, forex services, etc. If one were to think about, it is basically the mutual trust between the customers, be it, individual or corporate, and the bank that drives business between the two. The other one which is even more fundamental is the concept of ‘money’ as all commercial transactions are ultimately valued in terms of its equivalent ‘money value’ expressed in rupees/dollars or any other currency form. How did mankind over the centuries translate commercial dealings from ‘barter system’ to the one which is current, viz, monetary transactions reflected in equivalent currency value? These and a host of other fundamental issues (inter bank dealings, etc.) are issues that any person/student new to the subject would be interested in knowing. In this regard the book is good primer on vast subject of banking which familiarizes readers with basic aspects and details on money, history of banking and finance, customer relationship management, payment methods, funds transfer, lending, etc.Though the authors have explained the banking system in the context of UK, nonetheless this book equally valuable for targeted readers in India as most of the issues covered are basic principles which are universally applicable for all banking systems anywhere in the world.<disp-quote>Believe in youself! Have faith in your abitities! Without a humble but reasonable confidence in your own powers you cannot by successful or happy. Believe it is possible to solve your problem. Tremendous things happen to the believer. So believe the answer will come. It will.<attrib>— Norman Vincent Peale</attrib></disp-quote></sec></body></article></article></body></html>

Management & Change

0972-2149

Institute for Integrated Learning in Management

mc-9-2-br005

BOOK REVIEW

The business of banking

Murali Mohan

V.R.

Professor

General Management Area, Institute for Integrated Learning in Management, Lodhi Institutional Area, New Delhi 110003

7–122005

92127128

<bold>Geoffrey Lipscombe and Keith Pond, <italic>The Business of Banking</italic> (fourth edition). New Delhi: New Age International (P) Limited, Publishers, 2005. x+272 pp. Rs. 150 paperback.</bold>In today's context the relevance and the role of Banking in the economy is known to almost everyone. Customers to a bank could be individuals or institutions. The advent of IT technology and Internet has revolutionized the role of banking in personal or corporate dealings. Today personal banking covers deposits, loans (house/car loans, etc.), investments, insurance, ATMs, mobile banking and so on, while corporate banking covers corporate net banking, cash management, trade services, forex services, etc. If one were to think about, it is basically the mutual trust between the customers, be it, individual or corporate, and the bank that drives business between the two. The other one which is even more fundamental is the concept of ‘money’ as all commercial transactions are ultimately valued in terms of its equivalent ‘money value’ expressed in rupees/dollars or any other currency form. How did mankind over the centuries translate commercial dealings from ‘barter system’ to the one which is current, viz, monetary transactions reflected in equivalent currency value? These and a host of other fundamental issues (inter bank dealings, etc.) are issues that any person/student new to the subject would be interested in knowing. In this regard the book is good primer on vast subject of banking which familiarizes readers with basic aspects and details on money, history of banking and finance, customer relationship management, payment methods, funds transfer, lending, etc.Though the authors have explained the banking system in the context of UK, nonetheless this book equally valuable for targeted readers in India as most of the issues covered are basic principles which are universally applicable for all banking systems anywhere in the world.<disp-quote>Believe in youself! Have faith in your abitities! Without a humble but reasonable confidence in your own powers you cannot by successful or happy. Believe it is possible to solve your problem. Tremendous things happen to the believer. So believe the answer will come. It will.<attrib>— Norman Vincent Peale</attrib></disp-quote></sec></body></article></article></body></html>