Banking in India

This book, one of a series of guides to foreign banking systems, has been produced to present a concise account of the banking system currently operating in India, a two-tier system that has evolved from the joint influences of the traditional and English patterns. It is based on a German text written by Dr. Khaja Shoeb Hasan and translated in English by Roy North. It commences with an outline of the origins and develolpment of the Indian banking system and describes its economic background, legal framework and particular features. The Reserve Bank of India, its functions and its central role in controlling the financial and credit sectors is described, as are the functions of the commercial banks and their nationalisation. The various credit institutions concerned with raising finance for agriculture and industry are also discussed. Official statistics including those of the Reserve Bank of India have been culled from primary sources and are extensively quoted throughout the book.