In this video we will discuss structure of banking , banks H. Q ,Nationalization of banks. You fill find many questions from this section in competitive exams like IBPS PO , IBPS Clerk , SBI PO, SBI Clerk , RRB PO Mains, RRB Clerk, RBI , RBI Assistant ,RBI Grade B, SSC CGL, Insurance UPSC, State level Exams.
Nationalisation of Banks in India
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In view of the reluctance of Commercial Banks, before 1969, to finance small business ventures and agriculture and opening up of branches in rural areas, compelled the Government of India to take over the control of banks by nationalising them.
Nationalisation of Banks
A significant milestone in Indian Banking happened in the late 1960s when the government nationalised on 19th July, 1969 14 major commercial Indian Banks. The second wave of nationalisation took place in 1980 with 6 more commercial banks got nationalised. The stated reason for the nationalisation was more control of credit delivery. After this, until the 1990s, the nationalised banks grew at a leisurely pace of around 4%. In 1993, New Bank of India was amalgamated with Punjab National Bank.
Post 1990 Liberalisation, Privatisation and Globalisation took place and took the banking industry to new heights. Technological advancement started by migrating from manual to computerisation of records. Narasimham Committee recommendations on prudential norms for Non Performing Assets were adopted which resulted in healthy growth of banks asset portfolio.
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