Abstract:

Since its inception in the late 18th century, the Indian banking business has seen numerous transformations. Most of India's early banks were largely traders' banks, which only provided short-term loans to local merchants. the Imperial Bank of India as well as the State Bank of India were the two most important banking institutions in pre-independent India. Majority private ownership was prevalent in the early days of the sector, which had an extremely turbulent work climate. When India's banks were nationalised in 1969 and 1980, they ushered in a new era of public ownership and responsibility. There has been considerable movement in the sector toward greater liberalisation as it has come to understand the importance for private and international firms in a competitive setting.

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