Banking in India quite some time-especially in its services sector-the demand for banking services, especially retail banking, mortgages and investment services are expected to be strong. One may also expect M&As, takeovers, and asset sales. In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time an investor has been allowed to hold more than 5% in a private sector bank since the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by
Banking in India cards were compromised. Major Indian banks- SBI, HDFC Bank, ICICI, YES Bank and Axis Bank were among the worst hit. Many users reported unauthorised use of their cards in locations in China. This resulted in one of the India's biggest card replacement drive in banking history. The biggest Indian bank State Bank of India announced the blocking and replacement of almost 600,000 debit cards. Banking in India Banking in India, in the modern sense, originated in the last decade of the 18th century. Among the first banks were the "Bank of Hindustan", which was established in 1770 and liquidated in