An introduction to indian banking system introduction the banking sector is the lifeline of any modern economy it is one of the important india bank of baroda canara bank indian bank and bank of mysore were established between 1906 and 1913 by the end of december 1913 the total number of reporting. Banking in india in the modern sense originated in the last decade of the 18th centuryamong the first banks were the bank of hindustan which was established in 1770 and liquidated in 1829 32 and the general bank of india established in 1786 but failed in 1791 the largest bank and the oldest still in existence is the state bank of india sbi. 3 introduction indian banking is the lifeline of the nation and its people banking has helped in developing the vital sectors of the economy and usher in a new dawn of. Chapter 1 an overview of the banking sector section i banking system in india 11 introduction 1 2 a bank is a financial institution that provides banking and other financial services to their customers. Introduction indian banking is the lifeline of the nation and its people today indian banks can confidently compete with modern banks of the world before the 20th century usury or lending money at a high rate of interest was widely prevalent in rural india
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