Impact of Globalization on Banking Sector in India

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What characterized the first phase of development of banking industry in post independent India?

Frequent failures and liquidation of Banks

During which era did the first phase of development of banking industry in post independent India take place?

Pre-nationalisation era from 1947 to 1969

What percentage of the banking business in India is controlled by Public Sector Banks (PSBs)?

Around 84%

What was the impact of globalization on the overall growth rate of the Indian economy?

<p>Favorable impact</p> Signup and view all the answers

Which era saw a sea-change in the Banking scenario with financial stability of Public Sector Banks and expansion of Branch net-work of Banks?

<p>Post-nationalisation cum pre-liberalisation era</p> Signup and view all the answers

What was the characteristic of the first phase in the development of banking industry in India from 1947 to 1969?

<p>City-centric private Banking</p> Signup and view all the answers

What was India's growth rate in the 1970s?

<p>3%</p> Signup and view all the answers

What sector is one of the most important and influential in response to changes, whether international or domestic?

<p>Banking sector</p> Signup and view all the answers

Which country had a GDP growth rate more than twice that of India in the 1970s?

<p>Korea</p> Signup and view all the answers

What did the second phase of banking sector reforms in India strengthen?

<p>Globalization</p> Signup and view all the answers

What did the first economic reforms in India give birth to?

<p>Globalization</p> Signup and view all the answers

What does globalization refer to?

<p>Overall integration of the world</p> Signup and view all the answers

What has globalization led to in the banking sector?

<p>Increase in international competition</p> Signup and view all the answers

What has globalization made the banks tend to do?

<p>Maximize opportunities and gains</p> Signup and view all the answers

What has globalization brought to the banking sector?

<p>New dimensions and unlimited scope</p> Signup and view all the answers

What was India's average annual growth rate in the 1980s?

<p>5.9%</p> Signup and view all the answers

What was the percentage of banking business controlled by Public Sector Banks (PSBs) during the post-nationalisation era?

<p>More than 80%</p> Signup and view all the answers

What was the characteristic of the first phase in the development of the banking industry in India from 1947 to 1969?

<p>Frequent failures and liquidation of Banks</p> Signup and view all the answers

What was the impact of globalization on the overall growth rate of the Indian economy?

<p>Favorable impact on growth rate</p> Signup and view all the answers

During which era did the neo-liberalisation era in the development of the banking industry in post-independent India take place?

<p>1991 onwards</p> Signup and view all the answers

What did the second phase of banking sector reforms in India strengthen?

<p>Public Sector Banks' financial stability</p> Signup and view all the answers

What has globalization intensified between economies in the world market?

<p>Interdependence and competition</p> Signup and view all the answers

What was India's average annual growth rate in the 1970s?

<p>3%</p> Signup and view all the answers

Which country had a GDP growth rate more than twice that of India in the 1970s?

<p>Korea</p> Signup and view all the answers

What was the impact of globalization on the overall economic integration of the world?

<p>Significant integration</p> Signup and view all the answers

What did the second phase of banking sector reforms in India strengthen?

<p>Indian banking system</p> Signup and view all the answers

During which era did the first economic reforms in India give birth to globalization?

<p>Post-independence era</p> Signup and view all the answers

What has globalization made the banks tend to do?

<p>Increase international competition</p> Signup and view all the answers

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