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Banking Restructured

73 Pages Posted: 2 Mar 2012 Last revised: 27 Aug 2014

Date Written: July 24, 2011

Abstract

This paper called “Banking restructured” redefines the role of banking sector to pave the way for future economic system that benefits 7 billion people of the world in all spheres of their lives in one form or the other. This restructured banking system will make the budget preparation of any country to be simple, easy and time saving exercise. Banking is expanded so that taxation, tax collections, tax compliance, monetary system, registration of movable and immovable properties, budget preparation, public distribution, preparation of voter lists and population census are integrated in the banking system. Storage and usage of an individual’s money, movable and immovable properties, shares, family details, licenses, passports, subsidies can be maintained and operated from his/her single account called Main Savings Account. Banking sector will become the intermediary between the Government and citizens.

Keywords: bank, banks, banking, banking redefined, bank of, savings account, bank account

JEL Classification: E51, E58, E62, H21, H24, H26, H61

Suggested Citation

Varma, Banking Restructured (July 24, 2011). Available at SSRN: https://ssrn.com/abstract=1894247 or http://dx.doi.org/10.2139/ssrn.1894247

Vijaya Varma (Contact Author)

Independent ( email )

India

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