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General Bank of India 1st bank of India(1786) Reserve Bank of India -was established on 1 April 1935
during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934
empowered the Reserve Bank of India (RBI) "to regulate, control, and inspect the banks in India.
1955:-
Nationalization of Imperial Bank of India and formation of State Bank of India. 1960:Nationalization of SBI and subsidiaries
1962:-
Deposit Insurance corporation was established with aim to provide insurance cover to depositors, thereby protecting deposits of common man.
1969:-
1. Bank of India 2. Union Bank of India 3. Bank of Baroda 4. Bank of Maharashtra 5. Punjab National Bank 6. Indian Bank 7. Indian Overseas Bank 8. Central Bank of India 9. Canara Bank 10. Syndicate Bank 11. United Commercial Bank 12. Allahabad Bank 13. United Bank of India 14. Dena Bank
The Govt of India set up Regional Rural Banks (RRBs) on October 2, 1975. The banks provide credit to the weaker sections of the rural areas-small farmers, agricultural labourers, artisans and small entrepreneurs. Initially, five RRBs were set up on October 2,1975. Capital share -50% by the central government, 15% by the state government and 35% by the scheduled bank. Total authorized capital- 1 crore which has since been raised to 5 Crore.
1980 :
Nationalisation of seven banks with deposits over 200
crores.
financial sector by a temporal reduced reserve ratio as well as the statutory liquidity ratio.
at that time was 10% (at present it has gone up to 74% with some restrictions).
System become more convenient and swift. The country is flooded with foreign banks and their
ATM stations. Efforts are being put to give a satisfactory service to customer. eg online banking.
Time is given more importance than money.
Phase I
the trend continues---7 more banks nationalized no such significant changes with a constant growth rate
Phase IV
New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after 1991.
the overall banking sector. Such as a) Innovative Financial Products. b) Technical Developments in the Foreign Markets c) Problem of Inefficient Management d) Non-performing Assets e) Financial Instability f) Poor Capitalization g) Changing Financial Market Conditions
Rural Banking
Developing a flexible model for rapid scale--up at
optimal cost.
Indian banking sector has 6th rank in all over the world
rank. SBI has 6500+ ATMs all over the country. ICICI bank has 3500+ ATMs all over the country. RBI had printed 6,39,948 lakhs crore notes till 6THNov 2008. SBI provides the facility and it is tie with 9200+ banks to use their ATM. Transaction done through ATMs is around 70,000 crore in a year
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