International Journal of Applied Research
Vol. 4, Issue 7, Part E (2018)
How banks evolved from custodian service to complete umbrella of financial services with special reference to state bank of India
Sandeep Gandhi and Madhu Bhushan
Banking system of a country is an important tool in its economy i.e.whether developed,underdeveloped or progressive econmy. It is an indispensable institution and forms core of money market of a country.Indian money market is characterised by the existence of both organised and unorganised credit agencies,which meet the banking needs of the population of the country. Lendors and indigenious bankers constitute the unorganised money market. Private, Public, Foriegn Banks, Cooperative banks constitute organised money market. Both the segments are not bitterly competitor but supplementory to each other. The present structure of orgainsed banking in India is the outcome of a long process of expansion,reorganisation and consolidation.Before the enacment of Banking Regulation Act 1949 there was little control and regulation over the activities of banking companies.It was felt that banking system should be made sound and strong so that aspiration of general public can be fullfilled.
How to cite this article:
Sandeep Gandhi and Madhu Bhushan. How banks evolved from custodian service to complete umbrella of financial services with special reference to state bank of India. 2018; 4(7): 302-306.