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History of Banking in India: Phase-III

The third phase of evolution of banking in India started in 1980s  generally and 1991 onwards particularly. This period is marked by consolidation, diversification and liberalization of the banking industry. The financial sector reforms got momentum with the recommendations of various committees such as Chakravarty Committee (1985), Vaghul Committee (1987) and most notably by Narasimham […]

First Narasimham Committee

The Narasimham Committee  was established under former RBI Governor M. Narasimham in August 1991 to look into all aspects of the financial system in India. The report of this committee had comprehensive recommendations for financial sector reforms including the banking sector and capital markets. In broad acceptance to this committee, the government announced slew of […]