Question

What are the specific banking institution of India?

Answer 1

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The operations of all the banks in India are controlled by the Reserve Bank of India which was established in April 1935, but was nationalised on 1 January 1949. 

Answer 2

The specific banking institutions in India are:

1. India Infrastructure Finance Company Ltd (IIFCL)

2. Export-Import Bank of India (EXIM Bank)

3. Small Industries Development Bank of India(SIDBI)

4. National Housing Bank (NHB)

5. Acute Ratings & Research Limited

6. Several CMDs of Financial Institutions

7. Industrial Finance Corporation of India (IFCI)

Explanation:

• These above-mentioned banking agencies are established by the government and work directly under the finance ministry of India. These agencies were all started by the laws and acts formed by the government for addressing to a certain issue.