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Banking Updates: Did you Know?
IndianMoney.com Research Team | Posted On Friday, August 20,2010, 04:06 PM
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Did You know?
Bank of Bengal, Bank of Bombay and Bank of Madras merged to form the Imperial Bank of India, which was named as State Bank of India Post Independence.
Allahabad Bank was established in 1865 and it is the oldest Joint Stock Bank in India.
Reserve Bank of India was nationalised in 1948 , it became a Government owned Institution
In 1948 the Banking Regulation Act was enacted and RBI was empowered to regulate, control and inspect the
banks in India. The first Indian bank to be given an ISO certification is Canara Bank.
Banking Regulation Act
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