Facts about  Banking

India's central bank, the Reserve Bank of India (RBI), is essential to the country's banking industry regulation. The RBI established guidelines for the lending methods, capital requirements, and interest rates used by Indian banks. 

Customers' needs are met by a variety of account types, including savings, current, and fixed deposit accounts. Banks provide a range of financial services and products, including investment options, insurance, and loans. Their main responsibility is to receive deposits from wealthy people, combine them, and lend the money to individuals in need. Banks act as middlemen between borrowers and depositors, the former of which lends money to the latter. 

Three Presidency banks –  These were started by British as quasi central banks in India. 1. Bank      of Calcutta 2. Bank      of Bombay 3. Bank      of Madras. In 1921 these 3 banks merged into Imperial Bank of India and after India’s Independence in 1955, it was finally renamed into State Bank of India

Oldest bank but liquidated  · Bank of Hindustan(1770-1832)  · General Bank of India (1786-1791)

Oldest Bank in continuous operation –  State Bankof  India(Since 1806). Largest Bank - State Bank of India

Oldest Public Sector Bank & Oldest Joint Stock Bank of the Country –  Allahabad Bank(1865) Crossed 150 years. First Indian bank to open a branch outside India–  Bank of India in London in 1946 and  also the first to open a branch in continental Europe at Paris in 1974. Creation of Regional Rural Banks – 1975

First bank purely managed by Indian –  Punjab National Bank(1895) The first Indian commercial bank which was wholly owned and managed by Indians – Punjab National Bank(1895)

·Narasimham is sometimes referred to as the father of banking reforms in India. He also held the position of Reserve Bank of India (RBI) governor for thirteen years.

India is the country with the greatest number of online bank clients worldwide. 68% of Indian consumers carry out financial transactions through online or mobile banking 

NPA figures may be high in Indian banks 

The government's heavy preemption of bank funds through the cash reserve requirement (CRR) and statutory liquidity requirement (SLR) is one of the factors contributing to banks' low profitability and subpar asset returns.  in some text

Thanks for Watching

Made by  Vasudha Sharma