These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. Primarily Anglo–Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic
Sometime later, in the year 1993, the government took yet another stride towards economic prosperity and made a turn towards merger of banks. The New Bank of India was merged with the Punjab National Bank (PNB). This was the first merger between nationalized banks in india. At present in india have 27 nationalized banks and 22 private sector banks and Report of the Narsimhan Committee The Narsimhan Committee, to file a report regarding the reforms in the Indian Banking Sector, was set up in the month of December, 1997. It submitted a report with the following suggestions, on April 23, 1998.
It dates back to the beginning of banking in India. In 1921 the Bank of Bengal, the Bank of Bombay and the Bank of Madras were merged to form the Imperial Bank of India, which subsequently was converted as the State Bank of India in 1955 when the Government took over control of its operations. Today, Mergers and Acquisitions is a term which is hardly used in the banking industry as business deals, but perceived as a strong strategy which can be trusted upon for long run survival and sustenance. It is always taken in a negative sense instead of considering it as a business potential. In the past, whenever the Government felt that a commercial bank had become weak, either financially or managerially, a decision was taken to merge it with some strong bank.
As that result, 4 branches of the Hoshiarpur Central Co-operation which operate in Una tehsil were also merged into The Kangra Central Cooperative Bank. In the year 25 January 1971, Himachal Pradesh becomes the 18th Indian state with 12 districts and the year of 1972 the area of operation of The Kangra Central Co-operative Bank was extended to the 5 districts which known as Kangra, Hamirpur, Una, Kullu and Lahaul &
The bank in the beginning preferred the role of a regional bank and slowly but steadily built for itself a place in the Delta District Thanjavur. The first Branch of the Bank was opened at Mannargudi on 24th January 1930. Thereafter, branches were opened at Nagapattinam, Sannanallur, Ayyampet, Tirukattupalli, Tiruvarur, Manapparai, Mayuram and Porayar within a span of twenty five years. The Bank was included in the Second Schedule of Reserve Bank of India Act, 1934, on 22nd March 1945. The Bank celebrated its Golden
As distant as external banks are distressed they are probable to prosper in the Indian Investment Industry Indusland Bank was the early confidential bank to be set up in India. In the Indian Investment Industry a little of the Confidential Sector Banks working are IDBI Bank, ING Vyasa Bank, SBI Business and Global Bank Ltd, Dhanalakshmi Bank Ltd,Karur Vysya Bank 1.4 NATIONALISATION OF BANKS IN INDIA The nationalization of banks in India seized locale in 1969 by Mrs. Indira Gandhi the next prime minister. It nationalized 14 banks then. These banks were generally owned by businessmen and even grasped by them. 1.
IndusInd Bank Ltd. is a new generation Indian bank established in 1994. IndusInd Bank is considered as the first new generation private sector bank in India. It has always been tech-savvy and frequently adopts the latest technology available to the banking sector to stay updated and provide the best services to its customers. The bank has been expanding across the country with high global level service benchmarks. IndusInd Bank has more than 1000 branches across the country with representative offices in London, Dubai, and Abu Dhabi.