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  1. 4.3 This chapter describes the evolution of central banking in India over the period of seventy years since the inception of the Reserve Bank in 1935. For analytical convenience, the entire period 1935-2005 is sub-divided into three broad phases: foundation phase (1935-1950), development phase (1951-1990) and reform phase (1991 onwards).

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  3. importance of the Imperial Bank as an increasingly strong competitive factor both in interior and exterior banking in India. At the end of June 1942 the bank had deposits amounting to Rs.133 crores, or 23 per cent of the total deposits received by all scheduled banks. Next in the group of modern banks are the Indian joint-stock banks proper.

  4. 23. Mai 2023 · All told, therefore, there are about 250 banks and branches in India, situated in about 150 towns, or in about 20 percent of the towns having a population of 10,000 or more. 4 min read. March 1921. In accordance with a law approved on September 19, 1920, the Imperial Bank of India began operations on January 27 of this year.

  5. 22. Apr. 2020 · 3. The Imperial Bank of India was nationalized in 1955 and was given the name ‘State Bank of India’. State Bank of India acted as the principal agent of RBI for handle banking transactions all over the country. It was established under State Bank of India Act, 1955.

  6. Mint Dialogues. The year 2021 marks the 100th anniversary of imperial bank, a bank that later morphed into today's SBI. Mint speaks to Sifra Lentin, Bombay History Fellow at Gateway House about this institution and what led to its eventual transformation into SBI. 10:10.

  7. 19. Sept. 2022 · The Imperial Bank of India changed its name to the State Bank of India on July 1st, 1955. Since the Reserve Bank of India regulates the nation's banking industry, the Government of India purchased the RBI's holding in SBI in 2008 to avoid any potential conflicts of interest.