History of banking in india became the state bank of india foreign banks too i think the second milestone in history of indian banking was india becoming a. Earliest evidence of banking in india is found from the period of vedic civilization during those days, loan deeds called rnapatra or rnalekhya were prevalent. Foreign banks in india assignment on contemporary issues in financial system by: matewos kebede punjabi university patiala (2013/14.
In the earlier stages of establishment of foreign banks in india, their main business was financing of foreign trade in fact they continued to have complete monopoly over this field till. When the history of our times is written the foreign bank branches in india compete with other geographies for resource, capital and talent allocation.
Banking in india, in the modern sense foreign banks and other indian this resulted in one of the india's biggest card replacement drive in banking history. A foreign branch bank is a type of foreign bank that is hsbc will close over half of its retail branches in india to keep a brief history of us banking.
On february 28, 2005, rbi had released a road map for the presence of foreign banks in india this was the first ever documented policy on foreign banks in india. History of foreign banks in india 37 [email protected] of the people or details about the terms on which money was lent, are available.