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 operating since 1997. The Issue Department of RBI Thiruvananthapuram looks after the currency requirement of 229 currency chests and 226 small coin depots in the state of Kerala and UT of Lakshadweep. The Urban Banks Department (UBD) supervises 60 Urban Cooperative Banks. The Rural Planning and Credit Department (RPCD) has jurisdiction over more than 1,600 Primary Agricultural Credit Societies, besides two Regional Rural Banks and 14 central cooperative banks, and the Department of Banking Supervision (DBS) conducts the supervision and monitoring of approximately 2500 branches of public sector banks and more than 1400 branches of private sector banks, besides five