Dear Readers, SBI PO Mains examination is approaching very shortly, we hope that all you have started you preparation well. today I have brought the Banking Knowledge for SBI PO 2018 Download Pdf for you. SBI PO 2018 Exam, it’s a dream for a candidate to crack the exam in the very first attempt. But clearing the SBI PO Exam in just one attempt is not easy for everyone as it needs a lot of preparation and smart hard work.
HISTORY OF BANKING ( Banking Knowledge for SBI PO 2018 )
For the past three decades India’s banking system has several outstanding achievements to its credit. The most striking is itsextensive reach. It is no longer confined to only metropolitans orcosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reasons for India’s growth. The government’s regular policy for Indian banks since 1969 has paid rich dividends with the nationalisation of 14 major private banks of India in 1969.
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The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of the Indian Banking System can be segregated into three distinct phases. They are as mentioned below:
Phase I Early phase from 1786 to 1969.
Phase II Nationalisation of Indian Banks and up to 1991 prior to Indian banking sector Reforms.
Phase III New phase of Indian Banking System with the advent of Indian Financial & Banking Sector Reforms after
The General Bank of India was set up in the year 1786. Next came Bank of Hindustan and Bengal Bank. The East India Company established Bank of Bengal (1809), Bank of Bombay (1840) and Bank of Madras (1843) as independent units and called them Presidency Banks. These three banks were amalgamated in 1920 and Imperial Bank of India was established which started as a private shareholders bank with mostly Europeans shareholders.
In 1865 Allahabad Bank was established and for the first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up. Reserve Bank of India came in 1935. During the first phase the growth was very slow and banks also experienced periodic failures between 1913 and 1948. There were approximately 1100 banks, mostly small. To streamline the functioning and activities of commercial banks, the Government of India came up with The Banking Companies Act, 1949 which was later changed to Banking Regulation Act 1949 as per amending Act of 1965 (Act No. 23 of 1965). Reserve Bank of India was vested with extensive powers for the supervision of banking in India as the Central Banking Authority. During those days public had lesser confidence in the banks. As an aftermath, deposit mobilisation was slow. Abreast of it the savings bank facility provided by the Postal department was comparatively safer. Moreover, funds were largely given to traders.
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