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The Banking Companies Act was passed in February1949, which was subsequently ame
nded to
read as Banking Regulation Act, 1949.This Act provided the legal framework for r
egulation of the
banking system by RBI. The largestThe first bank of limited liability managed by
Indians was Oudh Commercial Bank founded in 1881.
Punjab National Bank was established inThe first bank of limited liability manag
ed by Indians was Oudh Commercial Bank founded in 1881.
Punjab National Bank was established in 1894 .
Swadeshi movement, which began in 1906, encouraged the formation of a number of
commercial
banks. Banking crisis during 1913 -1917 and failure of 588 banks in various Stat
es during the
decade ended 1949 underlined the need for regulating and controlling commercial
banks.
The Banking Companies Act was passed in February1949, which was subsequently ame
nded to
read as Banking Regulation Act, 1949.This Act provided the legal framework for r
egulation of the
banking system by RBI. The largestThe first bank of limited liability managed by
Indians was Oudh Commercial Bank founded in 1881.
Punjab National Bank was established in 1894 .
Swadeshi movement, which began in 1906, encouraged the formation of a number of
commercial
banks. Banking crisis during 1913 -1917 and failure of 588 banks in various Stat
es during the
decade ended 1949 underlined the need for regulating and controlling commercial
banks.
The Banking Companies Act was passed in February1949, which was subsequently ame
nded to
read as Banking Regulation Act, 1949.This Act provided the legal framework for r
egulation of the
banking system by RBI. The largest 1894 .The first bank of limited liability man
aged by Indians was Oudh Commercial Bank founded in 1881.
Punjab National Bank was established in 1894 .
Swadeshi movement, which began in 1906, encouraged the formation of a number of
commercial
banks. Banking crisis during 1913 -1917 and failure of 588 banks in various Stat
es during the
decade ended 1949 underlined the need for regulating and controlling commercial
banks.
The Banking Companies Act was passed in February1949, which was subsequently ame
nded to
read as Banking Regulation Act, 1949.This Act provided the legal framework for r
egulation of the
banking system by RBI. The largestThe first bank of limited liability managed by
Indians was Oudh Commercial Bank founded in 1881.
Punjab National Bank was established in 1894 .
Swadeshi movement, which began in 1906, encouraged the formation of a number of
commercial
banks. Banking crisis during 1913 -1917 and failure of 588 banks in various Stat
es during the
decade ended 1949 underlined the need for regulating and controlling commercial
banks.
The Banking Companies Act was passed in February1949, which was subsequently ame
nded to
read as Banking Regulation Act, 1949.This Act provided the legal framework for r
egulation of the
banking system by RBI. The largest