The nationalization of 14 banks in 1969 was the ideal step or the integral part of financial growth and development in India. The main goal behind the nationalization process of banks was to support the growth of Agriculture, small scale industries, and self employment. The legal side of nationalization of banks enabled the availability of maximum 40% of the total loan provided to these sectors. The total picture of the banking field was changed by the introduction of process like globalization and privatization in the banking. The privatization boosted a high open competition in the banking sector. The new generation banks like ICICI, IDBI, INDUS, HDFC, etc. deeply rooted in the Indian banking sect. The cooperative banks become another back borne for the process of national reconstruction and developments in India. In the development of rural areas the role of cooperative banks are very important. The cooperative bank succeeded to provide the 41% of the loan availed for the development areas from industrial banks. It shows the importance of role of cooperative banks in the process of development.
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