( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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CRITICAL STUDY OF CONTRIBUTION OF INDIAN COMMERCIAL BANKS IN THE DEVELOPMENT OF INDIA

    1 Author(s):  VANDANA

Vol -  12, Issue- 7 ,         Page(s) : 252 - 258  (2021 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Modern banking in India started in British Raj. In the early 19th century, the British East India Company started 3 banks - Bank of Bengal in 1906, Bank of Bombay in 180 and Bank of Madras in 183. But later these three banks were merged into a new bank 'Imperial Bank' which was merged into 'Indian State Bank' in 1855. Allahabad Bank was the first private bank in India. Indian,Reserve Bank was established in 1935 and later Punjab National Bank, Bank of India, Kenra Bank and Indian Bank were established.

Singh,ramesh. ‘Indian Economy’,Dehli.2008. 
https://www.drishtiias.com/hindi/daily-updates/daily-news-editorials/50-years-of-bank-nationali sation 
http://www.rbi.org.in/commonman/Upload/English/Content/PDFs/71206.pdf. 
Sethi, Dr. T.T. (2009-10), 'International Economics, Laxmi Narayan Agarwal, Agra, p. 245–261 Xingen, M. L. (2005), 'International Economics, Vrinda Publications Pvt. Ltd., Delhi,P. 575,588 

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