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The document outlines the history of banking in India in three phases. In the first phase from the 18th century to 1949, several private banks were established but saw failures. The government passed the Banking Regulation Act in 1949. In the second phase from 1955 to 1980, the government nationalized the State Bank of India and several other large commercial banks. By 1980, government ownership of banks had reached 80%. The third phase from 1991 onwards introduced banking reforms and liberalization, allowi

Author

Shaquib Hussain

Language

EN