Banks and banking in India

There may be no two opinions about the pivotal role played by the banking system of a country in its economic growth and development. Take any sphere of economic activity whether it is planning and development import and export, public utilities and social welfare, public and private finance, or whatsoever out of manifold departments of the economic life of a people, the importance of banking system cannot be ignored.

It is therefore in the fitness of the things that most of the literature provoking the thought, imagination and actions of workers in this field should be touching this subject. Hence the need to collect and catalogue it in a systematized manner for the assistance and guidance of researchers and others engaged in the study of banking system of our country.

Bank nationalisation, the most hotly debated issue, is the recentmost phenomena in the annals of Indian banks and bank ing. There may be a very wide spectrum of opinions regarding the merits or otherwise of the issue; but there will be no hesita tion from any quarter to accept that this single stroke of bringing the fourteen major commercial banks under public sector has proved to be the most talked about phenomena touching nearly every section of the society. From a politician, businessman or an intellectual right down to a layman, everywhere the impact has been felt with its many implications-economic, political, social and legal.