Indian banks– a history & their growth

India is a developing country and moving at a greater pace to become the most developed country. One of the sectors that is growing tremendously is the banking sector. A bank is a financial institution where our deposits get accepted and from whom we take an advance. But nowadays a bank does many other activities like investment banking, insurance, foreign exchange trading, commodity trading, trading in equities, futures and options, etc. Banks offer a number of services to its customers like ATM, Mobile banking, Online banking, etc. Indian Banking Sector has adapted to many new innovations that have come across in this industry. In India the banks have grown in terms of offices, deposits, advances, investments, interest earned, interest expended, ATM, technology, etc. The data found was analysed to understand the increase in percentage of various items like deposits, advances, investments, etc. The increased cost effectiveness, easy banking access and smaller value of transactions made this possible. The banks were able to carry out its services efficiently. Transactions are done as soon as possible and through convenient delivery channel. The productivity thereby increased and had an effect on the growth of Indian banks.

Meena, R.
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