Banking Regulation Act 1949

The Banking Regulation Act was passed the Banking Companies Act 1949 and came into effect on 16th March 1949. Later, it was changed to Banking Regulation Act on 1st March 1966. The Act is not applicable to primary agricultural credit societies, co- operative land mortgage banks and non- agricultural primary credit societies. Summary of important […]

Commercial Banks of India

Commercial banks form a significant part of the country’s Financial Institution System. Commercial Banks are those profit seeking institutions which accept deposits from general public and advance money to individuals and businesses with the prime objective of earning profit in the form of interest, commission etc. The operations of all these banks are regulated by […]

Regional Rural Banks

Regional Rural Banks (RRBs), sponsored by scheduled commercial banks, are local level banking organizations operating in different States of India . They have been created with a view to serve primarily the rural areas of India with basic banking and financial services. According to RRB Act, 1976, the RRBs are to be set-up mainly with […]

NABARD

National Bank for Agriculture and Rural Development ( NABARD ) is an apex development bank in India headquartere in Mumbai, Maharashtra. The Parliament, through NABARD Act 1981, approved the setting up of NABARD. The bank came into existence on 12th July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the […]

National Housing Bank (NHB)

National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI), was set up on 9th July, 1988 under the National Housing Bank Act, 1987. NHB commenced its operations in 9th July 1988. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both […]

EXIM Bank

Export-Import Bank of India is the premier export finance institution in India, established in 1982 under the Export-Import Bank of India Act,1981. The Government of India wholly owns the EXIM Bank. Besides India, this bank also manages finances to third world countries for export and import of goods and services. Exim Bank is managed by […]

SIDBI Bank

Small Industries Development Bank of India (SIDBI) is an independent financial institution in India aimed at assisting the growth and development of micro, small and medium-scale enterprises (MSME) in India. It started its operation from 2nd April, 1990. It headquartered at Lucknow, Uttar Pradesh. SIDBI was established as a wholly owned subsidiary of IDBI under […]

IDBI Bank

Industrial Development Bank of India (IDBI Bank) is an Indian government-owned financial service company, headquartered in Mumbai, India. It was established under IDBI Act, 1964. Till 1976, IDBI was fully owned subsidiary of RBI. In 1976 it was separated from RBI and the ownership was transferred to the Government of India. At the time of […]

ICICI Bank

Industrial Credit and Investment Corporation of India Bank (ICICI Bank) is an Indian multinational banking and financial services company headquartered in Vadodara, Gujarat, India . ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994. The ICICI bank has contributed […]

Non-Banking Financial Company (NBFC)

A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/ bonds/debentures/securities issued by government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business, but does not include any institution whose principal […]

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