The concept of Banking in India dates back to the first half of 18th century. The first bank that was established in the country was The General Bank of India founded in 1786. After that came the State Bank of India in Kolkata in 1806 which was then known as The Bank of Bengal.
The operations of all the banks in India are controlled by the Reserve Bank of India. All the Indian banks are governed by the RBI or Reserve Bank of India. This governing body took over the reasonability of formally regulating the Indian banks in 1935. The Reserve Bank of India was announced as the official Central Banking Authority for the smooth supervision of the banking industry in India. Banks in India are classified into 2 broad categories namely, Public sector banks and Private sector banks.
The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the 'cost', determined by revenue minus profit model.
This means that all the resources should be used efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks focused on the 'revenue' model which is equal to cost plus profit. Post the banking reforms, banks shifted their approach to the 'profit' model, which meant that banks aimed at higher profit maximization.
Public Sector Banks In India
Banks such as State Bank of India, Bank of Baroda, Syndicate Bank and Canara Bank are known as Public sector banks. Public sector banks are controlled and managed by the Government of India. Public sector banks have been serving the nation for over centuries and are well known for their affordable and quality services.
The banking sector in India is mostly dominated by the Public sector banks. The Public sector banks in India alone account for about 75 percent of the total advances in the Indian banking industry. Public sector banks have shown remarkable growth over the last five four decades.
Allahabad Bank was the first fully owned Indian bank. It was founded in the year 1865.
List of Public Sector Banks In India
- Bank of Baroda
- Allahabad Bank
- State Bank of Saurashtra
- Central Bank of India
- State Bank of Patiala
- Andhra Bank
- Canara Bank
- State Bank of Hyderabad
- Oriental Bank of Commerce
- Dena Bank
- State Bank of Mysore
- State Bank of Indore UCO Bank
- Vijaya Bank
- Syndicate Bank
- State Bank of India
- Bank of India
- Corporation Bank
- Indian Bank
- Union Bank of India
- Punjab National Bank-
- State Bank of Bikaner and Jaipur
- State Bank of Travancore
The
concept of Banking in India dates back to the first half of 18th
century. The first bank that was established in the country was The
General Bank of India founded in 1786. After that came the State Bank of
India in Kolkata in 1806 which was then known as The Bank of Bengal.
The operations of all the banks in India are controlled by the Reserve
Bank of India. All the Indian banks are governed by the RBI or Reserve
Bank of India. This governing body took over the reasonability of
formally regulating the Indian banks in 1935. The Reserve Bank of India
was announced as the official Central Banking Authority for the smooth
supervision of the banking industry in India. Banks in India are
classified into 2 broad categories namely, Public sector banks and
Private sector banks.
The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the 'cost', determined by revenue minus profit model.
This means that all the resources should be used efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks focused on the 'revenue' model which is equal to cost plus profit. Post the banking reforms, banks shifted their approach to the 'profit' model, which meant that banks aimed at higher profit maximization. - See more at: http://business.mapsofindia.com/banks-in-india/#sthash.FMmCKQzy.dpuf
The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the 'cost', determined by revenue minus profit model.
This means that all the resources should be used efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks focused on the 'revenue' model which is equal to cost plus profit. Post the banking reforms, banks shifted their approach to the 'profit' model, which meant that banks aimed at higher profit maximization. - See more at: http://business.mapsofindia.com/banks-in-india/#sthash.FMmCKQzy.dpuf
About Banking System In India
The concept of Banking in India dates back to the first half of 18th century. The first bank that was established in the country was The General Bank of India founded in 1786. After that came the State Bank of India in Kolkata in 1806 which was then known as The Bank of Bengal.The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the 'cost', determined by revenue minus profit model.
This means that all the resources should be used efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks focused on the 'revenue' model which is equal to cost plus profit. Post the banking reforms, banks shifted their approach to the 'profit' model, which meant that banks aimed at higher profit maximization.
Public Sector Banks In India
Banks such as State Bank of India, Bank of Baroda, Syndicate Bank and Canara Bank are known as Public sector banks. Public sector banks are controlled and managed by the Government of India. Public sector banks have been serving the nation for over centuries and are well known for their affordable and quality services.The banking sector in India is mostly dominated by the Public sector banks. The Public sector banks in India alone account for about 75 percent of the total advances in the Indian banking industry. Public sector banks have shown remarkable growth over the last five four decades.
Allahabad Bank was the first fully owned Indian bank. It was founded in the year 1865.
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