ISO 9001:2015

REFORMS IN BANKING SECTOR OF INDIA

Manju, Dr. Inamur Rahaman & Dr. Abhishek Kumar Singh

In today's world, the banking industry serves as the foundation of current commerce. Banking is essential for businesses, commerce, and industry to thrive. A country's banking system largely determines the growth and development of the nation. A bank is a financial company that handles deposits, loans, and other associated services. It gathers funds from individuals looking to save through deposits and loans it to those in need of money. Nationalized banks have a strong presence in the Banking System of India. The Indian banking system's performance is more closely tied to the economy compared to any other sector. The primary goal of this research is to define the structure of the Indian banking industry and examine its different reforms. The role of the banking industry is crucial as a primary and highly necessary service sector. The Indian banking system remains focused on enhancing asset quality, adopting prudent risk management practices, and ensuring capital adequacy. The current paper examines the changes in the banking industry policy, important topics and plan for what's to come. The study's findings suggest that foreign banks and recently established private sector banks are effective in handling profitability and managing NPAs show superior performance in the post-banking sector reforms compared to our nationalized banks era. The paper concludes by outlining the future plans for the Indian banking sector, specifically focusing on the public sector banks need to be more efficient and powerful in order to competitive global banks. The paper examines how banking sector reforms have affected and been analysed in the Indian banking system.


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