Growth of Banking Sector in India

Banking is an important segment of the service-providing sector and acts as a backbone of economic progress1. The banks render vital services to the masses belonging to the various sectors of the economy like agriculture, and industry whether small-scale or large-scale. The banking system is one of the few institutions that impinge on the economy and affect its performance for better or worse. They act as a development agency and are the source of hope and aspirations for the masses. As an economic institution, banks are supposed to be more directly and positively related to the performance of the economy than most non-economic institutions are. Schumpeter, the first modern economist, regarded the banking system as one of the two key agents (the other being entrepreneurship) in the whole process of economic development. This book provides an insight into the Growth of the Banking Sector in India through various phases.