Banking System Frauds And Legal Control
Banking system occupies an important place in a nation'seconomy. A banking institution is essential in a modernsociety. It plays a pivotal role in economic development of acountry and forms the core of the money market in anadvanced country.Banking industry in India has traversed a long way toassume its present status. It has undergone a majorstructural transformation after the nationalization of 14major commercial banks in 1969 and 6 more on 15 April1980. The Indian banking system is unique and perhaps hasno parallels in the banking history of any country in theworld.
Investment in India - Banking System
The central bank of the country is the Reserve Bank of India(RBI). It was established in April 1935 with a share capital of