Discuss the development of indigenous banking system in indian subcontinent bst 1th
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The first bank established in India was Bank of Hindustan, which was started in 1770. Second was The General Bank of India, which started in 1786. The oldest bank still in existence in India is the State Bank of India. It was originated in the Bank of Calcutta in June 1806.
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Indigenous banking system has really improved at a very high rate in the risen past.The system has played a big role in the rise of Indian economy,this is because through this process of indigenous banking the government has realized its a more faster way in improving the economy in a more effective way.With this you realize the money in the economy is large hence will multiply.By so doing the economy of country will rise faster.
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