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indian banking sector

indian banking sector

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Published by pregenesis06
details about the phases and marketing strategy of banking sector as a whole
details about the phases and marketing strategy of banking sector as a whole

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Published by: pregenesis06 on Sep 02, 2008
Copyright:Attribution Non-commercial

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02/18/2013

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INDIAN BANKING SECTOR
 
 
PHASE I
The General Bank of India was set up in the year 1786. Next came Bank of Hindustanand Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called it PresidencyBanks.
 
PHASE II
Nationalisation of Imperial Bank of India with extensive banking facilities on a largescale specially in rural and semi-urban areas.It formed State Bank of india to act as the principal agent of RBI and to handlebanking transactions of the Union and State Governments all over the country.Seven banks forming subsidiary of State Bank of India was nationalised in 1960 on19th July, 1969, major process of nationalisation was carried out. 14 major commercial banks in the country was nationalised.The second phase of nationalisation of Indian banks took place in the year 1980.Seven more banks were nationalised with deposits over 200 crores. Till this year,approximately 80% of the banking segment in India were under Governmentownership.

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