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    Banking in India2

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    Santosh Gajendra Santa
    Banking in India has played a key role in the country's economic growth over the past three decades by extending its reach even to remote corners of the country. A sound banking system is important for India to have a healthy economy and meet new challenges from technology and other external factors. The history of banking in India began in 1786 with the establishment of the first bank, and since then the system has progressed through three distinct phases, from the early conservative period to nationalization and ongoing reforms after 1991.

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    Banking in India2

    Uploaded by

    Santosh Gajendra Santa
    7 views1 page
    Banking in India has played a key role in the country's economic growth over the past three decades by extending its reach even to remote corners of the country. A sound banking system is important for India to have a healthy economy and meet new challenges from technology and other external factors. The history of banking in India began in 1786 with the establishment of the first bank, and since then the system has progressed through three distinct phases, from the early conservative period to nationalization and ongoing reforms after 1991.

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    Banking in India has played a key role in the country's economic growth over the past three decades by extending its reach even to remote corners of the country. A sound banking system is important for India to have a healthy economy and meet new challenges from technology and other external factors. The history of banking in India began in 1786 with the establishment of the first bank, and since then the system has progressed through three distinct phases, from the early conservative period to nationalization and ongoing reforms after 1991.

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    Flag for inappropriate content
    Download as docx, pdf, or txt
    7 views1 page

    Banking in India2

    Uploaded by

    Santosh Gajendra Santa
    Banking in India has played a key role in the country's economic growth over the past three decades by extending its reach even to remote corners of the country. A sound banking system is important for India to have a healthy economy and meet new challenges from technology and other external factors. The history of banking in India began in 1786 with the establishment of the first bank, and since then the system has progressed through three distinct phases, from the early conservative period to nationalization and ongoing reforms after 1991.

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    BANKING IN INDIA

    Without a sound and effective banking system in India it cannot have a healthy
    economy. The banking system of India should not only be hassle free but it should be
    able to meet new challenges posed by the technology and any other external and
    internal factors. For the past three decades India's banking system has several
    outstanding achievements to its credit. The most striking is its extensive reach. It is
    no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian
    banking system has reached even to the remote corners of the country. This is one of
    the main reasons of India's growth process.

    HISTORY:

    The first bank in India, though conservative, was established in 1786. From 1786 till
    today, the journey of Indian Banking System can be segregated into three distinct
    phases. They are as mentioned below:
    · PHASE I - Early phase from 1786 to 1969 of Indian Banks
    · PHASE II - Nationalization of Indian Banks and up to 1991
    · PHASE III - Indian Financial & Banking Sector Reforms after 1991.

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