2

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 T.Y. BFM (Vth

SEM)BANKINGSYSTEM
 NAGINDAS KHANDWALA
COLLGEPROJECT
ON“MODERNISATION IN BANKING
SYSTEM ININDIA”SUBMITTED
BYDIMPLE LUKHAT.Y.BFM N.K.
COLLEGEMALADSUBMITTED
TOUNIVERSITY OF
MUMBAIACADEMIC YEAR 2010-
2011PROJECT CO-ORDINATOR:Mrs.
KAVITA SHAH
COLLEGEPage 1
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
 ACKNOWLEDGEMENT
 We are glad to have such a great
opportunity to present our project on the
topic of
 Modernization in Banking System in
India
 which has given us immense knowledge.
We are grateful to
 Prof. KAVITA MADAM
 for all her guidance and assistance
 “NO ENDEAVOUR ACHIEVE SUCCESS
WITHOUT THE ADVICE AND CO-
OPERATION OF THE OTHERS”



 T.Y. BFM (Vth

SEM)BANKINGSYSTEM
 INDEX
 S R .
N O .
T O P
I C 1 .
H I S T O
R Y 2 . P O S
T I N D E P E N
D E N C E 3 . N
A T I O N A L I
S A T I O N 4 .
L I B E R A L I
S A T I O N 5 .
E V O L U T
I O N 6 . I N
T R O D U C T
I O N 7 . B A N
K I N G T E C H
N O L O G I E S
 •
 ONLINE BANKING
 •
 ATM
 •
 ELECTRONIC FUND TRANSFER
 •
 ELECTRONIC CLEARING
SERVICE
 •
 CREDIT CARDS
 •
 REAL TIME GROSS SETTLEMENT
 •
 CORE BANKING
 •
 MOBILE BANKING
 •
 VERY SMALL APERTURE
TERMINAL
 •
 LASER(DEBIT CARD)
 •
 ELECTRONIC COMMERCETELE
BANKING8 . C H A L
L E N G E S A
H E A D 9 . C
A S E S T
U D Y 1 0 . C
O N C L U S I
O N
COLLEGEPage 3
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


 1 1 . W E B L I
O G R A P H Y



 T.Y. BFM (Vth

SEM)BANKINGSYSTEM
 SUMMARY
 In the organizational context, inn
o v a t i o n m a y b e l i n k e d t o performa
nce and growth through improvements in
efficiency, productivity,quality,competiti
ve positioning,market share, e t c .
Allo r g a n i z a t i o n s c a n i n n o v a
te, including for example h
o s p i t a l s , universities, and
local governments.Over the last three
decades the role of banking in the process
off i n a n c i a l i n t e r m e d i a t i
on has been undergoing
a p r o f o u n d transformation, owing
to changes in the global financial system.
It isnow clear that a thriving and
vibrant banking system requires a
welldeveloped financial structure with
multiple intermediaries operating
inmarkets with different risk profiles.
Taking the banking industry to theheights
of international excellence will require a
combination of newtechnologies,
better processes of credit and risk
appraisal,
treasurymanagement, product diversi
fication, internal control and externa
lregulations and not the least, human
resources. Fortunately, we have
acomparative advantage in almost all
these areas. Our professionals areat the
forefront of technological change
and financial
developmentsa l l o v e r t h e w o r
ld. It is time to harness t
h e s e r e s o u r c e s f o r developme
nt of Indian banking in the new century.
COLLEGEPage 5




 HISTORY
 T h e f i r s t banks w e r e p r o b a b l y
t h e r e l i g i o u s temples o f t h e ancient
world, and were probably established in
the third
millenniumB . C . B a n k s p r o b a b l y p r
edated the invention of money. D
epositsinitially consisted of grai
n and later other goods including
c a t t l e , agricultural implements, and
eventually precious metals such asgold,in
the form of easy-to-carry compressed
plates. Temples and palaceswere the
safest places to store gold as they
were constantly attendedand well
built. As sacred places, temples presented
an extra deterrentto would-be thieves.
There are extant records ofloans from
the 18thc e n t u r y B C i n Babylon that
were made by temple priests/monks
tomerchants.
 Error! Filename not specified.Error!
Filename not specified.Error!
Filename not specified.



 T.Y. BFM (Vth

SEM)BANKINGSYSTEM
 Banking in India
 Structure of the organised banking
sector in India. Number of banksare
in brackets.
 Banking in India
 originated in the last decades of
t h e 1 8 t h century. The first banks were
The General Bank of India which
startedin 1786, and the Bank of
Hindustan, both of which are now
defunct.The oldest bank in existence in
India is the State Bank of India,
whicho r i g i n a t e d i n t h e B a n k o f
Calcutta in June 1806, which
a l m o s t immediately became theBank
of Bengal . T h i s w a s o n e o f t h e
t h r e e presidency banks, the other two be
ing theB a n k o f B o m b a y and
COLLEGEPage 7



 theBank of Madras, all three of which were

established under chartersfrom the British
East India Company. For many years the
Presidency banks acted as quasi-central b
anks, as did their successors. The three ba
nks merged in 1921 to form theImperial
Bank of India , which,upon India's
independence, became the State Bank of
India.I n d i a n m e r c h a n t s i n C a l c u t t a
e s t a b l i s h e d t h e U n i o n B a n k i n 183
9, but it failed in 1848 as a consequence
of the economic crisis of1 8 4 8 -
4 9 . T h e Allahabad Bank , e s t a
blished in 1865 and stil
l functioning today, is the oldest Joint
Stock bank in India.(
 Joint StockBank
 : A company that issues stock and
requires shareholders to beheld
liable for the company's debt) It was
not the first though. Thathonor
belongs to the Bank of Upper India,
which was established in1863, and
which survived until 1913, when it failed,
with some of itsassets and liabilities
being transferred to theAlliance Bank of
Simla.W h e n t h e Ame rican Civil War
s t o p p e d t h e s u p p l y o f c o t t o n toLan
cashire from theConfederate States,
promoters opened banks tofinance
trading in Indian cotton. With large
exposure to speculativeventures, most
of the banks opened in India during that
period failed.The depositors lost
money and lost interest in keeping
deposits with banks. Subsequently,
banking in India remained the exclusive
domainof Europeans for next several
decades until the beginning of the
20thcentury.
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