Banking System in India A Modern perspective by Dr. K. R. Swain

The banking scenario in India is changing fast to keep pace with the international banking practice. As a result the banks in India have been asked to meet specific standards such as capital adequacy norms, classification of assets, income recognition norms, Basel II accord, etc. Further new directions have been issued to bring the NBFCs under strict control and improve their financial health. The banking ombudsman scheme has been interduce   to protect the interest of the depositors. Nbsp;