Banks in India in modern time

Modern time has introduced many more products and facilities in the banking sector in its reforms measure. In 1991, Narsimhamam committee,  under the chairmanship of M Narasimham, was set up to work for the liberalisation of banking practices.

The country is swamped with foreign banks and their ATM stations. To meet the competitions, satisfactory customer service has become essential for banks. Phone banking and net banking are introduced. As time has more value than money, the entire system has become more convenient and swift.

For the past some decades banking system in India has several outstanding achievements to its credit. The most striking is its widespread reach. It is no longer confined to only metropolitans or cosmopolitans in India but people residing in villages in India are also availing of the banking facilities. It can be said that Indian banking system has reached even to the remote corners of the country. This is one of the main reasons of India's growth process.

Now a days an account holder have not to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has his own choices. Money can transferred from one branch to another electronically in a moment. Account holder of a bank can transact his account from his own computer or mobile with the help of net banking or mobile banking.

Now banking in India has become a pleasant feeling for account holders.