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Innovations in the Banking Industry in India |
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Contd...Some of the systems implemented earlier included the electronic clearing service (1995), electronic funds transfer (EFT) facility (1997) and special electronic funds transfer system (2003). Changes in the Indian banking sector in the late 1990s and early 2000s, are expected to create high value for customers as well as the banks involved. Background Note
Joint stock banking companies with limited liability began to make their appearance in the early-1860s.Allahabad Bank Ltd. was the first joint stock bank established in India. The Swadeshi Movement6 in the early-1900s provided an impetus to the setting up of banks owned by Indians. In 1920, the British government in India passed the Imperial Bank of India Act and amalgamated the three Presidency banks.
In 1959, SBI took over control of eight private banks floated in the erstwhile princely states, making them 100% subsidiaries. In 1969, the government of India (GoI) undertook a bank nationalization program with the objective of streamlining the banking operations in the country and strengthening the sector through government support...
4] Primary care is care provided by general phdysician at clinic. Minor ailments are treated and preventive care such as vaccinations is provided. Secondary care is provided by physicians who have specialized in various areas such as gynaecology, internal medicine, general surgery etc. |
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