The Bank of Hindustan established in 1770 is India's first
modern bank. The growth of the banking sector since then can
be divided into three phases.
 Standarn
The first phase stretches from 1770 to the
nationalisation of banks in 1969. In this phase,
the presidency banks, Bank of Bengal, Bank
of Bombay, and Bank of Madras were
established by the British East India
Nationalised banks
Central Bank of India
Company. The operation and the growth of Bank of India
banks were slow during this phase.
Punjab National Bank
The second phase stretching from 1969 to
1990, witnessed a speedy development of.United Commercial Bank
banks. The view that banks should operate Canara Bank
with the aim of social progress led to the . Dena Bank
Bank of Baroda
nationalisation of 14 banks in 1969 and six
banks in 1980. In 1993, the nationalised bank,
Syndicate Bank
Union Bank of India
New Bank of India was merged with the
Punjab National Bank. As a result, there are
only 19 nationalised banks in India.
Allahabad Bank
Indian Overseas Bank
In the third phase, stretching from 1991
onwards, banks started rendering services,
Bank of Maharashtra
Indian Bank
other than their basic functions. There were
several banking reforms which helped in Vjaya Bank
quick and time saving services, ease of Corporation Bank
procedure, etc. Introduction of Automated
Andhra Bank
Teller Machines (ATM), credit card, phone Oriental Bank of Commerce
banking, net banking core banking, etc. are
the results of the third phase of development.
Punjab and Sindh Bank
United Bank of India
The private banks which received license
during this period introduced new and
innovative functions at a much quicker pace. Such banks are
known as new generation banks.
Even though banks basically perform the same functions, there
exist differences in some operations. On the basis of operations,
banks are classified into commercial banks, cooperative banks,
development banks, and specialised banks.
 

Nationalised Banks

1.Central Bank of India
2.Bank of India
3.Punjab National Bank
4.Bank of Baroda
5.United Commercial Bank
6.Canara Bank
7.Dena Bank
8.Syndicate Bank
9.Union Bank of India
10.Allahabad Bank
11.Indian Overseas Bank
12.Bank of Maharashtra
13.Indian Bank
14.Vijaya Bank
15.Corporation Bank
16.Andhra Bank
17.Oriental Bank of Commerce
18.Punjab and Sindh Bank
19.United Bank of India

What is Bank

Finance is the life blood of trade, commerce and industry. Now-
a-days, banking sector acts as the backbone of modern business.
Development ot any country mainly depends upon the bankıng
system.
The term bank is either derived from old Italian word banca or
from a French word banque both mean a Bench or money
exchange table. In olden days, European money lenders or
money changers uscd to display (show) coins of different
countries in big heaps (quantity) on benches or tables for the
purpose of lending or exchangng
A bank is a financial institution which deals with depOsits and
advances and other related services. It receives moncy from those
who want to save n the fornm of depoSits and it lends money to
those who need it.