Banking in India and regulations of the Reserve Bank of India, banks in India except the State Bank of India (SBI), remain owned and operated by private persons. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the nationalisation of the banking industry. Indira Gandhi, the then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled ""Stray thoughts
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