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Banking in India

Banking in India
Autor: Frederic P. Miller / Agnes F. Vandome / John McBrewster
Verfügbarkeit: Auf Lager.
Artikelnummer: 681499
ISBN / EAN: 9786130829216

Verfügbarkeit: sofort lieferbar

34,00
Inkl. MwSt. , zzgl. Versandkosten

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Produktbeschreibung

Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers. In 1969 the government nationalized the 14 largest commercial banks; the government nationalized the six next largest in 1980. Currently, India has 96 scheduled commercial banks - 27 public sector banks 31 private banks and 38 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector 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

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