HISTORY OF INDIAN BANKING INDUSTRY

HISTORICAL BACKGROUND            

The first bank of limited liability managed by Indians was Oudh Commercial Bank founded in 1881. Punjab National Bank was established in 1894 . 

            

Swadeshi movement, which began in 1906, encouraged the formation of a number of commercial banks. Banking crisis during 1913 -1917 and failure of 588 banks in various States during the decade ended 1949 underlined the need for regulating and controlling commercial. banks.

             

The Banking Companies Act was passed in February1949, which was subsequently amended to read as Banking regulation Act, 1949.This Act provided the legal framework for regulation of the banking system by RBI. The largest bank-Imperial Bank of India-was nationalised in 1955 and rechristened as State Bank of India, followed by formation of its 7 Associate Banks in1959.  

           

With a view to bring commercial banks into the mainstream of economic development with definite social obligations and objectives, the Government issued an ordinance on 19 July 1969 acquiring ownership and control of 14 major banks in the country. Six more commercial banks were nationalised from 15April 1980.

• Meaning of Bank

• Role of Banking

• Type of Banks 

            ➤  Central Bank                 

            ➤ Commercial Bank                     

                ➤➤Type of Commercial Bank                 

            ➤Co-operative banks                     

                ➤➤Types of co-operative Banks 

            ➤Specialised Banks                  

            ➤Export Import Bank of India (EXIM Bank):                             ➤Small Industries Development Bank of India (SIDBI):                

            ➤National Bank for Agriculture and Rural Development (NABARD):

              ➤RBI & Its Monetary Policy 
             ➤E-banking
            ➤Bank deposit Account
            ➤Real Time Gross Settlement (RTGS) System
            ➤National Electronic Funds Transfer (NEFT)