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|Number of Pages||514 Pages|
Banking in India in the modern sense originated towards the end of the 18th century. India’s Partition in 1947 after Independence adversely impacted India’s economy, paralyzing banking activities for months. The Government of India’s industrial policy resolution resulted into greater involvement of the state in different segments of the economy including banking and finance.
An ordinance was issued in 1969 and 14 largest commercial banks were nationalized. Six more commercial banks were nationalized in 1980 to give the government more control of credit delivery. In the early 1990s, under its policy of privatization and liberalization, the Government issued licences to some private banks. These came to be known as new generation tech-savvy banks. This revitalized the banking sector in India.
The new policies that are obtaining in banks in India have discarded much of what may be called traditional style of functioning. They have ushered in a modern outlook and tech-savvy methods of working. The book provides a history of banking in India—from the origin of money and banking—to the present scenario of technology-driven services. It will be useful for the students of banking, bank staff and those preparing for competitive examinations. To those who wish to learn about banking in India, it will provide for a richly rewarding and inculcating reading.