Banking Service

BANKING work IN INDIA I. HISTORY OF BANKING IN INDIA There ar three different phases in the history of banking in India. 1)Pre- nationalisation Era. 2) Nationalization Stage. 3)Post Liberalization Era. 1) Pre-Nationalization Era: In India the business of banking and creed was practices even in very early times. The remittance of gold through Hundies, an indigenous credit instrument, was very popular. The hundies were issued by bankers know as Shroffs, Sahukars, Shahus or Mahajans in different parts of the country. The advanced type of banking, however, was developed by the Agency Houses of Calcutta and Bombay after the brass section of Rule by the east India Company in eighteenth and 19th centuries. During the early part of the 19th Century, ht volume of opposed contend was relatively small. Later on as the trade expanded, the need for banks of the European type was felt and the government of the East India Company took interest in having its own bank. The government of Bengal took the enterprise and the first presidency bank, the Bank of Calcutta (Bank of Bengal) was established in 180. In 1840, the Bank of Bombay and IN 1843, the Bank of Madras was also set up.

BANKING SERVICES IN INDIA These three banks also known as giving medication Bank. The Presidency Banks had their branches in important trading centers only when mostly lacked in uniformity in their operational policies. In 1899, the Government proposed to amalgamate these three banks in to one so that it could also function as a Central Bank, merely the Presidency Banks did not favor the idea. However, the conditions obtaining during world war tip (1914-1918) emphasized the need for a unified banking institution, as a result of which the olympian Bank was set up in1921. The Imperial Bank of India acted like a Central bank and as a banker for other banks. The RBI (Reserve Bank of India) was established in 1935 as the Central Bank of... If you want to get a full essay, order it on our website: Ordercustompaper.com

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