Banking in India 1959. These are now called its associate banks. In 1969 the Indian government nationalised 14 major private banks, one of the big bank was Bank of India. In 1980, 6 more private banks were nationalised. These nationalised banks are the majority of lenders in the Indian economy. They dominate the banking sector because of their large size and widespread networks. The Indian banking sector is broadly classified into scheduled and non-scheduled banks. The scheduled banks are those included under the 2nd Schedule of the Reserve Bank of India Act, 1934. The scheduled banks are further classified into: nationalised banks; State
RBI Thiruvananthapuram (DBO). In 1960 the Agricultural Credit Department (ACD) started operating in another location of the city. In 1968 both of the Departments were shifted to the Belhaven Palace building in Kowdiar. This building was purchased from the royal family of the erstwhile State of Travancore. In 1981 the Sub-office of Issue Department started operating from the building of the Union Bank of India. In 1982 the office shifted to its current location at Bakery Junction, Thiruvananthapuram. The office of the Banking Ombudsman for the State of Kerala and UT of Lakshadweep is also situated at RBI Thiruvananthapuram. It has been