Post-Independence Phase(1947- Present)

The post-Independence term can be divided into the following three phases- Pre-nationalization Period (1947 to 1969)Post nationalization Period (1969 to 1991)Liberalization Period (1991 to till date) At the time of independence, the whole Banking region was under special holding. The country's rural community had been hanging on to small cash lenders for their rules and regulations. To work out these problems and decent growth of the economy, India nationalized the Reserve Bank of India in 1949. Imperial Bank of India in 1955 was nationalized and appointed the State Bank of India. In 1949 The Banking Regulation Act was enacted.  The Government of India nationalized 14 central banks in 1969 whose national securities were further than 49 crores. Allahabad Bank               Bank of India                          Punjab National BankBank of BarodaBank of Maharashtra         Central Bank of IndiaCanara Bank         Dena BankIndian Overseas BankIndian BankUnited Bank                              Syndicate Bank             Union Bank of IndiaUCO Bank The Indian Banking strategy enormously expanded after nationalization, but the rural and weaker or unstable region of the society was not coated under the Banking system. To solve the problem of these issues, in 1974, the Narasimham Committee proposed the institution of Regional Rural Banks (RRB). RRBs were organized to enlarge the quantity of credit to the rural area of the society on 2nd October in the year 1975.  At present, the Indian Banking enterprise strategies of any country need to be beneficial, efficient, and effective as it is active and effective in the nation's monetary growth.