The moneylenders of previous times were the primitive bankers who were replaced by basic banking institutions.
As the concept of banking took ground in the pre-independence period, the need to nationalize them was felt on priority basis post-independence. This gave the boost to personal wealth creation and built trust among customers.
The banking sector has been growing after that, encouraged by policy relaxations and foreign investments and backed by IT advancements.
Today we have an array of banking services to choose from- personal, commercial, investment banking to small and big financial instruments, foreign banking, etc.
The rapid digitization of banking services along with prudent operating models has set the pace for the fourth phase of convenient money control by the banking system.
Wonder if you can call yourself a banking expert!
Take up the given Whys and Hows to find out more.
GET SET GO !!!