Question

The advancement in the Indian banking system can be classified into
three different phases. 1. The pre-independence phase, i.e., before 1947.
2. After independence phase, i.e. from 1947 to 1991.3.The LPG (1991) era
and beyond, i.e. 1991 and beyond. Agree?? ​

Answer 1

Answer:

There are two broad categories under which banks are classified in India- SCHEDULED AND NON-SCHEDULED BANKS. The scheduled banks include COMMERCIAL BANKS AND COOPERATIVE BANKS. The commercial banks include REGIONAL RURAL BANKS, SMALL FINANCE BANK, FOREIGN BANKS, PRIVATE SECTOR BANKS, and PUBLIC SECTOR BANKS.