Gyaan on Banking sector

Banks - how they function - they basically take money from people who have money and give to those who need it on a higher interest

First Indian bank was started way back in 1786 around. But that bank is not functioning now

Oldest Indian bank which is functioning now is SBI, established in 1806, which was known at that time as "Bank of Bengal"

Most of the old banks were headquartered at Calcutta, as it was prime centre of trade

After Independence, most of the banks were nationalised. In 1991 private banks were also allowed to function.

Some Public sector banks – SBI and its subsidiaries, Bank of India, Allahabad Bank, Bank of Baroda etc

Some Private owned banks – ICICI, HDFC, UTI Bank etc.

Banking Terminology
CAR – cash adequacy ratio – basically, government wants banks to keep some amount of money in cash.

CRR – cash reserve ratio – presently 6.75% in India – it is the ratio of cash to net demands and time liabilities (NDTL) of bank. RBI asks bank to keep a certain percent of amount of NDTL in form of cash. This ratio varies between 3 to 20%

SLR – statuary liquidity ratio - It is the amount of money that bank has to deposit to RBI. This rate varies from 25% to 40%