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AN OVERVIEW OF THE INDIAN BANKING INDUSTRY
The financial sector plays a major role in the mobilisation and allocation of financial savings. ...
Banking includes all the traditional services provided by banks such as acceptance of deposits, lending of all types, and payment and money transmission services. ...
The Beginning
In India, banking on modern lines started in the 1860s. ... After independence, the government passed the Banking Regulation Act in 1949 giving wider powers to RBI to regulate, supervise and develop the banking system. ...
Nationalisation and Growth
Internet Banking in India: Problems & Prospect: The biggest defining moment in the Indian Banking industry was undoubtedly the July 19, 1969 decision of nationalisation of fourteen of the biggest Indian Banks. ... )
Ć To ensure speedier growth of banking sector in the vast rural and lesser developed areas of the country. ...
Given the above aims, the next decade saw an unprecedented growth of the industry in terms of number of branches as well as in mobilisation of deposits. ...
Economic Reforms and Banking
Till the 1980¡¦s government regulations shielded the banks from the forces of competition. This policy was advocated keeping the ¡¥safety and soundness¡¦ aspect of the banking institutions in mind. ...
Banking sector reforms were initiated in India in 1992 against the backdrop of challenges faced by the Indian banks from within and outside the banking system in the country as well as forces of globalisation operating world wide.
Approximate Word count = 1064
Approximate Pages = 4.3
(250 words per page double spaced)
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