Indian Economy

Indian Economy

Five Year Plans Agriculture Development Major Crops Fertilizers-Subsidies Agriculture Marketing-Trade Agriculture Schemes Animal Husbandry Banking Financial Markets Foreign Trade Industrial Development Major Industries Industrial Finance Industrial Policies-FDI Minerals Small Scale Industry Industry Strucuture Inflation-PDS Migration Monetary Policy National Income Population Poverty Power Resources Public Finance-Budget Rural Development Service Sector Taxation Transport Unemployment Urban Development Welfare Programmes

Banking-RBI-SBI-Rural Banks-Lead Bank

      Indian Economy-Banking
No. Banking
1. Oudh Commercial Bank was established in 1881.
2. Oudh Commercial Bank is the first commercial bank in India established by indians.
3. Punjab National bank was established in 1894.
4. Narasimhan Committee was appointed on Banking reforms.
5. The 14 major banks were nationalised by the Government on July 19, 1969.
6. Six Commercial banks were nationalised by the Government on April 15, 1980.
7. Bankers training college is in Mumbai.
8. Commercial Banks, Regional Rural Development Banks, Cooperative Banks are the Scheduled Banks.
9. Scheduled Banks means the banks which comes under the Schedule II of the RBI Act 1934.
  Imperial Bank of India
10. Imperial Bank of India was established on 27th January, 1921 by merging presidential banks.
11. Imperial Bank of India was nationalised on July 1, 1955 and named it as State Bank of India.
12. Imperial bank of India was nationalised in 1955.
 Reserve Bank of India
13. Reserve Bank of India was nationalised on 1 January, 1949.
14. Reserve Bank of India was established on April 1, 1935.
15. Reserve Bank of India (RBI) follows the Minimum Reserves System in issuing currency since 1956.
16. As per the Minimum Reserves System Reserve Bank maintains Rs.200 Crores Gold and Foreign Currency (including minimum Gold of Rs.115 crores).
17. Reserve Bank of India started the system of Ambudsman to resolve grievances of customers in 1995.
18. Reserve Bank staff college is in Chennai.
19. The credit control methods adopted by the Reserve Bank are Quantitative controls and Qualitative controls.
20. Bank Rate and Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Open Market Operations, are the quantitative techniques of RBI.
21. Margins, Maximum limit of credit for specific purpuses, Differential interest rates on certain types of advances are the qualitative control methods of RBI.
22. Reserve Bank of India performs central banking functions.
23. Devaluation means Reducing the value of currency.
24. Decimal coinage system was introduced in 1957.
  State Bank of India
25. State Bank of India was established on July 1, 1955.
26. Gold Bond Scheme is introduced by the State Bank of India (SBI) in 1999.
27. The biggest commercial bank in India is SBI.
28. NABARD is the apex institution for agriculture and rural development.
29. NABARD(National Bank of Agriculture and Rural Development)was established on July 12, 1982.
30. NABARD is the apex institution to provide credit facility to agriculture and rural development.
31. Agricultural Banking college is in Pune.
  Lead Bank-Regional Rulral Development Banks
32. Lead Bank system was started in 1969.
33. Lead Bank system was started on the recommendations of Nariman Committee.
34. Regional Rural Banks were established on October 2, 1975.
35. The Regional Rural Development Banks (RRDB) are established based on the recommendations of the Saraya Committee.
36. Bhandar committee and K.Basu Committees were appointed by the Government for restructureing the Regional Rural Development Banks.
37. Export and Import Bank of India (EXIM Bank) established in 1982.
38. Industrial Financial Corporation of India was established in 1948.
39. UTI Bank Ltd. is the first Private bank established based on the recommendations of the Narasimhan Committee.
40. UTI Bank Ltd. was established in 1994.


Five Year Plans Natinal Income Banking Committees Cooperative System Countries-Currency Development Programmes Fiscal Policy Foreign Trade Indicators Agriculture Minerals Industry Capital Market Population Poverty-Unemployment Statutory Bodies Taxation Miscellaneous


Indian Economy-Nature Five Year Plans National Income Banking Committees Globalisation India Agriculture Mineralsx Taxation