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Currently, India has 96 scheduled commercial deposits (SCBs) - 27 public vault of heaven banks (that is with the Government of India holding a stake), 31 mysterious banks (these do not vex government stake; they may be publicly listed and traded on telephone circuit exchanges) and 38 foreign banks. They have a combined network of over 53,000 branches and 49,000 ATMs. According to a report by ICRA Limited, a rating agency, the public heavens banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively Contents [hide] 1 Early history 2 From World War I to Independence 3 Post-independence 4 Nationalisation 5 Liberalisation 6 Further schooling 7 Notes 8 See also 9 away links [edit] Early history Banking in India originated in the last decades of the eighteenth century. The first banks were The General Bank of India which started in 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, which originated in the Bank of Calcutta in June 1806, which around immediately became the Bank of Bengal.

This was one of the terce presidency banks, the other(a) two being the Bank of Bombay and the Bank of Madras, all three of which were constituted under charters from the British East India Company. For many eld the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon Indias independence, became the State Bank of India. Indian merchants in Calcutta established the Union Bank in 1839, merely it failed in 1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India.(Joint Stock Bank: A company that issues stock and requires shareholders to be held liable for the companys debt) It was not the first though. That innocence belongs to... If you want to get a full essay, order it on our website: Orderessay

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