Paper Title :Role of Commercial Banks in the Economic Development of INDIA

Author :Bandlamudi Kalpana,Taidala Vasantaha Rao

Article Citation :Bandlamudi Kalpana ,Taidala Vasantaha Rao , (2017 ) " Role of Commercial Banks in the Economic Development of INDIA " , International Journal of Management and Applied Science (IJMAS) , pp. 1-4, Volume-3,Issue-4

Abstract : Banks have always played an important position in the country’s economy. They play a decisive role in the development of the industry and trade. They are acting not only as the custodian of the wealth of the country but also as resources of the country, which are necessary for the economic development of a nation. The general role of commercial banks is to provide financial services to general public and business, ensuring economic and social stability and sustainable growth of the economy. Commercial Bank in India comprises the State Bank of India (SBI) and its subsidiaries, nationalized banks, foreign banks and other scheduled commercial banks, regional rural banks and non-scheduled commercial banks. The total numbers of branches of commercial banks are more than 50,000 and the regional rural banks are approximately 8,000 covering 280 districts in the country. Commercial banks mostly provide short term loans and in some cases medium term financial assistance also to small scale units. Most of the commercial banks have got specialized units in their administrative structure to take care of the financial needs of the small scale industrial units. As we know that the Agriculture is the backbone of economy of any country like India. Research is based upon the secondary data. Which provide the findings on commercial banks and how it helpful in economic development. The main objective of the study is to critically examine and analyze the role of commercial banks on economic growth in India. The study portrays how loans and credit affect the GDP and consequently the level of economic growth of India. Keywords - social stability, rapid, realized, tax, GDP.

Type : Research paper

Published : Volume-3,Issue-4

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