Anish Break Even

BANKING DURING BRITISH PERIOD BEFORE freedom : * The first enounce stock margin, namely The General swan of India was formal in  1786. * posterior on brink of Hindustan and Bengal stick also came into existence.   Bank of Hindustan carried on the business till 1906. * east India Company constituted the following three banks, namely The Bank of Bengal in 1809, The Bank of Bombay in 1840, and Bank of Madras in 1843.  They were collectively called Presidency Banks and were rise functioning independent units. * The three banks established by the East India Company were amalgamated in 1920 and a new bank called  Imperial Bank of India was established. * A routine of private banks had been established by the businessmen from mid of the 19th century onwards.  In the surchanged atmosphere of Swadeshi movement, a number of banks with Indian management, namely, Punjab National Bank Ltd., Bank of India Ltd., Canara Bank Ltd, Indian Bank Ltd. etc. were established. * The suspend Bank of India was established as the Central bank of the rural in 1935 under an act called  Reserve bank of India Act. Later on with the passage of the Banking Regulation Act passed in 1949, run batted in was brought under government maintain.

   Under this Act, RBI  was conferred with supervision and control of the banks and licensing powers and the authority to conduct inspections was also given to it.       AFTER INDEPENDENCE : * In 1955, the Imperial Bank of India was nationalised and was given the name estate Bank of India.  It was established under State Bank of India Act, 1955.  * In 1960, RBI was empowered to force the compulsory merger of the run-down banks with the strong ones.  This led to reduction in the number of banks from 566 in 1951 to about 89 in 1969.  * On July 19, 1969, 14 study banks were nationalised.  * In 1980, another six banks were nationalised, and thus raising the number of nationalised banks to 20. * On the suggestions of Narsimham... If you want to get a full essay, aver it on our website: Ordercustompaper.com

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