🏦 Financial Institutions

🏦 Indian Joint Stock Bank – Early 1900s

Originates from the Indian banking history before independence.
One of the earliest organized banking formats in India.

👑 Imperial Bank of India – Formed in 1921

Created by the amalgamation of the Presidency Banks (Bank of Bengal, Bombay, and Madras).
Later became the State Bank of India in 1955.

🏛️ The Reserve Bank of India (RBI) – 1935

India’s central bank, established to regulate monetary policy and manage the country’s financial system.

🏭 Industrial Finance Corporation of India (IFCI) – 1948

Set up to provide medium and long-term finance to industrial sectors.

🏗️ National Industrial Development Corporation (NIDC) – 1954

Formed to promote industrial growth by providing financial assistance and guidance.

🌾 Regional Rural Bank (RRB) – 1975

Created to provide credit facilities in rural areas and promote financial inclusion.

🌱 National Bank for Agriculture and Rural Development (NABARD) – 1982

NABARD provides short-term and medium-term credit to financial institutions engaged in rural and agricultural financing.
The following institutions receive such credit:

• 🏛️ Co-operative Banks – These include State Co-operative Banks (SCBs) and District Central Co-operative Banks (DCCBs), which are major conduits for agricultural and rural credit.

• 🧱 Land Development Banks (LDBs) – Although mainly for long-term credit, they are supported by NABARD for developmental lending as part of rural infrastructure.

• 🌾 Regional Rural Banks (RRBs) – NABARD refinances RRBs to enhance their capacity to lend to farmers and small rural borrowers.