Marketing Strategies in Banking

Good Essays
Banking sector-intro (Indian)

PHASE I
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 it Presidency
Banks.

PHASE II
Nationalisation of Imperial Bank of India with extensive banking facilities on a large scale specially in rural and semi-urban areas.
It formed State Bank of india to act as the principal agent of RBI and to handle banking transactions of the Union and State Governments all over the country.
Seven banks forming subsidiary of State Bank of India was nationalised in 1960 on
19th July, 1969, major process of nationalisation was carried out. 14 major commercial banks in the country was nationalised.
The second phase of nationalisation of Indian banks took place in the year 1980.
Seven more banks were nationalised with deposits over 200 crores. Till this year, approximately 80% of the banking segment in India were under Government ownership. NATIONALISATION OF
BANKING SECTOR
The nationalisation of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalised 14 banks then. These banks were mostly owned by businessmen and even managed by them.
Central Bank of India
Bank of Maharashtra
Dena Bank
Punjab National Bank
Syndicate Bank
Canara Bank
Indian Bank
Indian Overseas Bank
Bank of Baroda
Union Bank
Allahabad Bank
United Bank of India
UCO Bank

PHASE III
This phase has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, under the chairmanship of M Narasimham, a committee was set up by his name which worked for the liberalisation of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and Net banking is introduced. The entire system

You May Also Find These Documents Helpful

  • Good Essays

    • Bank of Baroda has the largest network of overseas branches among all Indian banks…

    • 1517 Words
    • 7 Pages
    Good Essays
  • Good Essays

    Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became theBank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form theImperial Bank of India, which, upon India's independence, became the State Bank of India in 1955.…

    • 7607 Words
    • 31 Pages
    Good Essays
  • Satisfactory Essays

    ECO - REPO RATE

    • 1928 Words
    • 11 Pages

    private shareholders in the beginning. Following India's independence in 1947, the RBI was nationalized in the year…

    • 1928 Words
    • 11 Pages
    Satisfactory Essays
  • Satisfactory Essays

    4. Name of the 14 Banks Nationalized on 19th July, 1969:1. The Central Bank of India 2. Bank of India 3. Punjab National Bank 4. Bank of Baroda 5. United commercial Bank 6. Canara Bank 7. United Bank of India 8. Dena Bank 9. Syndicate Bank 10.Union Bank of India 11.Allahabad Bank 12.Indian Bank 13.Bank of Maharashtra 14.Indian Overseas Bank 5. Name of the 6 Banks Nationalized on 15th April, 1980:1. Andhra Bank 2. Oriental Bank of Commerce 3. Corporation Bank 4. Punjab & Sind Bank 5. New Bank of India 6. Vijaya Bank…

    • 7077 Words
    • 29 Pages
    Satisfactory Essays
  • Powerful Essays

    Over the years after independence, the banking sector in India was primarily dominated by the state banks. They played a significant role in the development process of the c9ountry 's economy. The period 1969-1990,witnessed rapid branch expansion and adequate flow of credits to all sectors. The mid eighties saw the commercial banks to consolidate the gains of expansion .At this point of time 90% of the banks were in public sector, being closely regulated in all respect.…

    • 5790 Words
    • 24 Pages
    Powerful Essays
  • Powerful Essays

    The origins of State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other Presidency banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the controlling interest in the Imperial Bank of India was acquired by the Reserve Bank of India and the State Bank of India (SBI) came into existence by an act of Parliament as successor to the Imperial Bank of India.…

    • 16972 Words
    • 68 Pages
    Powerful Essays
  • Good Essays

    The Reserve

    • 1207 Words
    • 5 Pages

    The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War. It came into picture according to the guidelines laid down by Dr. Ambedkar. RBI was conceptualized as per the guidelines, working style and outlook presented by Dr Ambedkar in front of the Hilton Young Commission. When this commission came to India under the name of “Royal Commission on Indian Currency & Finance”, each and every member of this commission were holding Dr Ambedkar’s book named “The Problem of the Rupee – It’s origin and it’s solution.”[4] The Bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, also known as the Hilton–Young Commission. The original choice for the seal of RBI was The East India…

    • 1207 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Wto and Indian Banking

    • 3138 Words
    • 13 Pages

    India had a deep rooted and well structured banking system since independence. After nationalization of the banks, the focus of the Indian banking System has been two fold - commercial and social.…

    • 3138 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    Allahbad Bank

    • 15884 Words
    • 64 Pages

    Allahabad Bank is one of the premier nationalized banks in India. It is also the oldest joint stock bank of India. It was incorporated by a group of Europeans at Allahabad on April 24, 1865. It was the time Indian economy had started shifting towards organized trade and business affairs. After some years in 1920, the P&O Bank brought Allahabad Bank and its headquarters at Kolkata. The Allahabad bank got an entirely new identity when it was nationalized in 1969 along with 13 other banks in India. Since then the Allahabad Bank had a smooth journey towards progress. Today it is one of the leading banks in India with a whooping business of over Rs.1, 00,000 crores.…

    • 15884 Words
    • 64 Pages
    Powerful Essays
  • Powerful Essays

    History of Para Banking in India: The 1906 Swadeshi Revolution encouraged many cooperative bank to start up. With this unqualified and selfish entrepreneurs started operating such banks with unclear banking regulations of the government. This resulted into unsuccessful banking scenario and difficulties in growth of this banking sector.…

    • 2348 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Surprisingly, the SBI was not a nationalized bank./ It had been created by an Act of Parliament in 1955, a logical successor to the Imperial Bank of India, which in turn had been created merging the four Presidency Banks in the 1930s. Their immediate objective in 1955 was to create within the next ten years a network of over 500 branches within the length and breadth of the country! As the only large state sponsored bank in those days, it was given the privileged status of being the treasury bank, and in the places where the RBI did not have any branches, SBI would step in for carrying on the functions, like “presiding over the clearing”. Mishra wistfully recalled the stories of yore when in the absence of the Collector in the District, the next officer that could give the order for firing, was none other than the Agent of the State Bank of India. By the time the 1969 nationalization had come around, all pretensions towards these grandiose existence had fallen by the wayside.…

    • 3301 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and the Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the…

    • 4787 Words
    • 20 Pages
    Powerful Essays
  • Powerful Essays

    History of Banking in India

    • 2475 Words
    • 10 Pages

    Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of…

    • 2475 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Banking Project: in India

    • 55527 Words
    • 223 Pages

    Banking in India in the modern sense originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1770; both are now defunct. The oldest bank still in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955.…

    • 55527 Words
    • 223 Pages
    Good Essays
  • Powerful Essays

    RESERVE BANK OF India was set up in 1935 under the Reserve Bank of India Act. 1934 and is the monetary authority and central bank of the country with responsibilities to overview, develop and regulate the financial system.…

    • 3636 Words
    • 11 Pages
    Powerful Essays

Related Topics