A Financial institution is a monetary establishment that accepts deposits and gives loans. Banks are the engines that drive the operations within the financial sector, which is vital for the economic system. With the nationalization of banks in 1969, additionally they have emerged as engines for social change. After Independence, the banks have handed by means of three phases. They’ve moved from the character primarily based lending to ideology based lending to in the present day competitiveness based mostly lending within the context of India’s economic liberalization insurance policies and the process of linking with the worldwide financial system.
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