Table of Contents

History of money and its development. 3

Introduction about the selected South Asian and GCC Countries. 3

History of money and its development in South Asian Indian. 3

History of currency and its evolution in GCC Qatar. 5

Technological growths in the banking structure. 7

Technological growths in the banking organism in South Asian country. 8

Technological growths in the banking sector in GCC country. 9

Relate the growths in terms of money and banking sector. 9

Conclusion. 10

Reference

History of money and its development
 Introduction about the selected South Asian and GCC Countries        

India is located in a south Asian region. This country has been placed at the second in the list of population numbers having more than 1.3 billion population. India is one of the fastest growing economies in the world at the moment. The currency of India is rupee which is derived from the Sanskrit word “rupkayam.” Qatar is located in the Western Asia and is listed in the Gulf countries. Qatar is a part of GCC (Gulf Cooperation Council). Due to the highest per capita income, Qatar is among the top countries having the maximum wealth. It is placed at the third place in terms of natural gas and oil reserves. It developed as a self-governing country in 1971. The exchange of Qatar is Qatari riyal.

History of money and its development in South Asian Indian

The evolution of the currency in India can be described as:

·         In the early days of India, Afghani silver coins were dispensed by raider Sher Shah Suri were into use. These silver coins remain in use in most parts of Indian history. They were used during the Mughal period in the Indian subcontinent and also during Maratha epoch along with the British India.

·         The paper money were introduced in 18^th century in India. Initially, the Bengali Bank (1784 to 1791), General Bank of Bengal (1773 to 1775) and Bank of Hindustan issued the paper money during the period of 1770 to 1832. 

·         In the British Indian period, during 1917 Rs.1 note was introduced along with Rs.2 and 8 annas (1 anna = 1/16 rupee) and discontinued in 1926. Rs. 1 was later re-introduced in 1940.  The Indian Reserve Bank was established in 1935 and later in 1938, bank issued a note of Rs. 5 and then Rs. 10, Rs. 100, Rs. 1,000 and Rs. 10,000 in the same year.

·        

India gained independence from Great Britain in 1947, which marks the post-independence period. In 1950, India issued different coins including 1 pice, 1.2, two and one anna also of 1.2, 1.4 and 1 Rs denominations. The notes started to display Hindi in 1953. In 1954, other notes of bugger amounts like Rs. 1,000, Rs. 5,000 and Rs. 10,000 were again issued. Later in1957, a rupee was splinted into hundred equal naye paise. During the period of 1957 to 1967, different aluminum based coins were issued.

·       

  In 1980 new notes were issued which showed the symbol of progress and Indian art form; Rs. 10 and Rs. 20 were issued. In 1987 Rs. 500 note was issued because of growing Indian economy and fall in purchasing power. And in 1988 new coins including 10, 25 and 50 of material having stainless steel were issued.

·         Later during the period of 2005 to 2008 different coins having the quantity of rupee one, two and five were issued. After that government stopped to print new notes of Rs. 5. Further all the coins having the quantity of 25 paisa or less were demonetized in 2011 and different coins of higher amounts including 50 paisa, rupees one, two, five and ten were issued. Further, all the notes of Rs. 500 and Rs. 1,000 were reduced and new notes of same amounts were issued.

History of currency and its evolution in GCC Qatar

·         In the earlier days, Qatar used the Islamic coins where one pure silver dirham used to be 3g of silver and 10 silver dirhams would equal one gold dinar. These coins used to be the currency of Qatar for almost 1,500 years.

·         During the period of 1950 to 1959 the currency which was used in Qatar and other Gulf countries was the Indian rupee as a part of an agreement between Qatar, India and Britain.

·        

During 1959 to 1966 Indian government issued notes (Gulf Rupee) which were similar to Indian rupee and also had the same design and color were used in Qatar. The only difference was the letter “z” before the serial number. But as India devalued their currency in 1966, it led the Gulf States including Qatar to discontinue using Gulf Rupee (Marhaba.qa, 2016).

·         After discontinuing the use of Gulf Rupee, Dubai and Qatar signed an agreement between them and launched the Qatar-Dubai Money Boarding. But as an interim solution because of no currency being is use, Qatar and Dubai rented 100 million Saudi Arabian Riyals for consumption till September, 1966 and in the meanwhile started printing their own notes.

In September 1966, a currency named as Qatar-Dubai Riyal (QDR) was issued as a national currency after collaboration with Qatar and Dubai. The value of this currency was equal to the price of 0.186621 grams gold. Later in 1971, Dubai became the part of UAE and as a result of that QDR ceased to be in use by 1973.

·         In 1971, Qatar Monetary Agency (QMA) appropriated the protagonist of central bank of Qatar and in 1973 QMA issued the first Qatari Riyal. At first in 1973 the denominations of Qatari were 1, 5, 10, 100, and 500. Later on, in 1976 50 riyal note was also supplementary. The forward-facing crosswise of the Qatari riyal has Arabic and the back-side English.

Technological growths in the banking structure

In the technological world during the period of last decade of twentieth century, all the banking sectors have been imposed with IT development and for the purpose to implement the IT developments for continuous development as well lengthy modest environments. In the banking sector, the execution of IT equipment is termed as the e-banking. There are so many changes which are incorporated in the IT system in banking sector for the purpose to move on along with the modern world. The banks working and its performance cannot be neglected in the community. This industry is contributing with the vigorous role for the nation and countries in terms of development. In order to run the banks, it requires effectiveness and efficiency; in the financial services cohort who are the providers of a nation as leading players. Thus the performance of the banks van not overemphasized easily. The emergence of ICT information communication is taking birth due to the rapid growth of technology as well as technological advancements (Binuyo, 2014).     .

Technological growths in the banking organism in South Asian country

In the current banking sector of the South Asia Indian country there are following points which is include in the technological development and they are accompanied through various sections .

·         Technology development in banks   

·         Development of ICT based on services and product

·         In banking industries there are various opportunities

·         Challenges in banking industry         

·         Application scope of ICT model to handle challenges

·         Acquisitions and Mergers  (Shodhganga, 2019)

The banking sector is intensively using the IT equipment and systems to make smooth working around the globe. The link between the investment and the profitability of the bank can be defined in a tranquil approach. So the main objective of this study is to identify and explain about the effect of ICT and its profitability along with the expendituire in the banks. By utilizing the ICT the performance of the can enhance due to which profit will increase as well by reducing the cost. There are numerous documents describing the information security, training, education, taxation, competition as well as the financial regulation. It could be linked with the better indulgent about the spending of the IT along with the sectors (Girmaye, 2018).

Technological growths in the banking sector in GCC country   

The Qatar banking sector has the broader changes involving the shift towards by the digital banking that is reduction in physical and branches presences in the coming years. The technological   development in the transformation of the banking sectors for the financial service of industry which is especially used in the banks and the technology is the significant part for the business strategy.

The input and output variables are the input prices and bank specific characteristic of all GCC banks that are located in Oman. For calculating the average size of banks the total assets are analyzed by the help of balance sheets. It can be seen that Oman bank contain lowest loan loss reserve ratio.

Relate the growths in terms of money and banking sector

The research study significantly contributes to the GCC bank of Qatar and south Asia Indian banking association amid the rebellion of technological development and the currency of banks' performances. This study will meaningfully subsidize to the banking sector of Qatar and India to applying the substructure of IT for its numerous processes (Mahmood , 2019). The aim of this study is to evaluate the relationship between the technological development and the currency in the GCC banking system of Qatar and South Asia Banking sector of India in order to determine the technological growth of the banking system and its effect the currency and risk. The study would utilize all listed banks of the GCC Qatar and South Asia India and utilize financial data for the period 2015 – 2018.

The latest research effort is connected to the development of banking presentation of Qatar bank and South Asia Indian bank. It will essentially be showed in the background of technical progression. It will better help GCC Qatar bank to deliberate the plans at Bank of South Asia Indian. For the said purpose, the comparison of GCC Qatar Bank’s strategies will be made with that of Bank of South Asia Indian. This is the way that help to identify that better formulation of strategies in the GCC Qatar Bank armed with the industrial rebellion. The better GCC Qatar Bank’s strategies relevant to the technological development are considered to be helpful to improve its performance and to deliver the better services while staying alive in the market place. Further, it can also be helpful to increase the profitability of the bank (Adjei, 2018).

Conclusion History of currency and technological development GCC Qatar in India

The expected conclusion of this study would be to determine if technological development and the currency of the banks is positively linked to its efficiency and profitability while being negatively linked to the size, scope and quality of risk undertaken by the bank. The results would act as a benchmark towards policy implications for banks in the GCC Qatar and South Asia India.