Study Notes for Banking Awareness topic - Privatisation of Banks

When was New Economic Policy introduced?

New Economic Policy was introduced in 1991 that introduced and promoted liberalisation, privatisation and globalisation of the Indian economy with the global economy. 

Why Narasimham committee 1, 1991 was formed?

Narasimham committee was formed  to provide solutions to a vast variety of problems that the banking sector was facing. 

What is privatisation?

Privatization is the process by which a piece of property or business goes from being owned by the government to being privately owned.

What is the tagline of Federal Bank Ltd.?

Tagline of Federal Bank Ltd.: "Your Perfect Banking Partner"

How many public sector banks were merged into other banks?

12