Introduction

(Indian banking industry experienced a 360 - degree change)
The history of banking system in India started with the establishment of the first joint stock bank, the General bank of India in the year 1786. In the mid of 19th century, East India Company established three banks. These banks were independent units and called Presidency banks. These three banks
were amalgamated in 1920 and a new bank, Imperial bank of India was established which started as private shareholders bank, mostly European shareholders. Reserve Bank of India (RBI) was constituted in the year 1935 as an apex bank without major government ownership. In the year 1949, Govt. of India enacted "The Banking Regulations Act" in order to streamline the functioning and activities of commercial banks. This act brought Reserve Bank of India under government control. Under the act, RBI got wide ranging powers for supervision & control of banks. In 1955,......

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Title: Banking Industry Analysis
Approximate Word Count: 959
Approximate Pages: 4 (250 words per double-spaced page)

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