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Banking in India: Evolution, Performance, Growth and Future

Banks, a significant part of financial system of a country, are essential for its economic development. They have developed over the years and are faced with the challenges for the bright future. The article discusses development and future of banking sector in India in the light of the reforms over the years and is divided into four parts. The paper traces evolution and significance of banking, discusses reforms during pre-liberalisation and post-liberalisation as recommended by various Committees, namely, Narasimham Committees (1991 & 1998), Verma Committee (1996) and Khan Committee (1997) along with the structural and operational reforms. The performance challenges in terms of fee-based income, profitability, credit deposit ratio, business and profitability per employee are highlighted, comparing the public sector banks and private banks.