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
History of central banking in the United States History of central banking in the United States This history of central banking in the United States encompasses various bank regulations, from early "wildcat" practices through the present Federal Reserve System. Some Founding Fathers were strongly opposed to the formation of a central banking system; the fact that England tried to place the colonies under the monetary control of the Bank of England was seen by many as the "last straw" of oppression which led directly to the American Revolutionary War. Others were strongly in favor of a central bank. Robert Morris, as Superintendent of Finance, helped to open the