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22nd December 2017, 01:30 PM
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Join Date: Aug 2012
Re: Introduction To Indian Banking System

A bank is a financial institution and a financial intermediary that accepts
deposits and channels those deposits into lending activities, either directly or
through capital markets. A bank connects customers that have capital deficits to
customers with capital surpluses

Structure of Indian Banking
As per Section 5(b) of the Banking Regulation Act 1949: Banking means the
accepting, for the purpose of lending or investment, of deposits of money from
the public, repayable on demand or otherwise, and withdawal by cheque, draft,
order or otherwise.

All banks which are included in the Second Schedule to the Reserve Bank of
India Act, 1934 are scheduled banks.

These banks comprise Scheduled Commercial Banks and Scheduled Cooperative Banks. according to their ownership and / or nature of operation. These bank groups
are:
(i) State Bank of India and its Associates,
(ii) Nationalised Banks,
(iii) Regional Rural Banks,
(iv) Foreign Banks and
(v) Other Indian Scheduled Commercial Banks (in the private sector).
Bank Nationalization
The Government of India issued an ordinance and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August 1969.

List of Nationalised Banks in India in 2012:
1. Allahabad Bank
2. Andhra Bank
3. Bank of Baroda
4. Bank of India
5. Bank of Maharashtra
6. Canara Bank
7. Central Bank of India
8. Corporation Bank
9. Dena Bank
10. Indian Bank
11. Indian Overseas Bank
12. Oriental Bank of Commerce
13. Punjab and Sind Bank
14. Punjab National Bank
15. State Bank of Bikaner & Jaipur
16. State Bank of Hyderabad
17. State Bank of India (SBI)
18. State Bank of Indore
19. State Bank of Mysore
20. State Bank of Patiala
21. State Bank of Travancore
22. Syndicate Bank
23. UCO Bank
24. Union Bank of India
25. United Bank of India
26. Vijaya Bank

for more details you may Consider the below attachement that is Free to Download
Attached Files
File Type: pdf An Overview of Banking Sector In India.pdf (196.6 KB, 273 views)


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