There are lot of churning of ideas to restore greater strength in them. I thought today I can discuss certain thoughts which I feel are very important for the PSBs to seriously consider in that respect. 2. India has a real long history of banking.
According to the Indian Central Banking Enquiry Committee (1931), money lending activity in India could be traced back to the Vedic period, i.e., 2000 to 1400 BC. The existence of professional banking in India could be traced to the 500 BC. Kautilya’s Arthashastra, dating back to 400 BC contained references to creditors, lenders and lending rates.