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Banks in India

India being a favorable business center of the world houses numbers of banks with different norms. Since Independence, a list of banks in India has been showing a remarkable uprising from one to another way. On an average of every 5 years, the new names of different banks and other financial institutes are being added in the list of banks in India. This has showed the current position of the banking regulation fundamentals in the country like India. Well, under this whole scenario, reserve bank of Indi has been played an integral role while implementing the banking regulation in the country. Reserve bank of India is an institute of central banking that controls the financial regulations and monitors the monetary policy while offering a sanction to a particular bank. Well, besides this, banking system is one of the integral parts of the economy that helps in developing the status of the country at an international level.

Banks in India – Law Practice

Banking laws are based on the different fundamentals like asset management, banking regulation, bank merger, loan documentation, trade finance, floatation, consortium lending and lots more. Under these aspects a law firm needs to concern all these banking law topologies while offering banking legal services. All these banking law services need guidelines, requirements and restrictions being regulated on an international level. Banks in India are solely subjected to follow these banking legal aspects in order to carry business with civilians or corporations. Without following these banking rules and regulations none of the bank can carry their business. It is duty of regulatory agencies to keep their hold over the functionalities and operations of banking systems in India. This holds helps them to operate under their boundaries in order to sequel their favorable activities towards the economic development. Especially for developing countries, it is very important to have an organized structure of banking system. Thus, in India you would many of the top banking law firms who are specialized while offering banking law services to their varied clients.

Types of Banks in India

There are basically three types of banks in India named Public banks, private banks and cooperative banks in India. Under public banks more than 50% of control is held with government. There are about 20 nationalized banks fall under this category. The main objective of these nationalized banks in india is to maintain savings from different segments of the country and to save the priority sectors and economic power of the country. Secondly, private banks in India where the major sections of stake are held with private shareholders. Here the government has very minimal control while implementing the banking policies over their operations. If we named out then HDFC Bank, ING Vysya Bank, International Bank, Bank of Rajasthan, ICICI Bank, Kotak Mahindra Bank, Axis Bank, SBI Commercial, Federal Bank and Catholic Syrian Bank are some of the top notch private banks of India. Thirdly, cooperative banks in India where these banks have played a vital role in bringing the needs of rural section of the country including agriculture. All these three banking types have played a crucial role while nurturing the Indian economy at a respectable level. Here, we as a top branded law firm in India, offers a wide range of banking law services at the best market rates with complete credibility.