India’ s economic development -and financial sector liberalization have led to a transformation of the Indian banking sector over the past two decades. Today, we have developed banking system with different classes of banks i.e. public sector banks, foreign banks, private sector banks, regional rural banks and co-operative banks with Reserve Bank of India as the fountain Head of the System. In the banking field, there has been an unprecedented growth and diversification of banking industry has been so stupendous that it has no parallel in the annals of banking anywhere in the world. The banks have shed their traditional functions and have been, innovating, improving and coming out with new types of the services such as e-banking and mobile banking etc. In rural areas to cater to the emerging needs of their customers, massive branch expansion in the rural and underdeveloped areas, mobilization of savings and diversification of credit facilities to the neglected areas like small scale industrial sector, agricultural and other preferred areas like export sector etc.
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