Indian banks information for SARASWAT COOPERATIVE BANK LIMITED RASEC - BORIVALI MUMBAI GREATER BOMBAY MAHARASHTRA

The history of banking begins with banks of merchants in earlier years, whose work was to give grain loans to the traders who traveled from city to city. At the time around 2000 BC in Assyria and Babylonia. During Roman Empires, ancient Greece had the temples who gave loans and introduced deposits and money exchange. There are proofs showing China and India had the money lending activities. The banking in modern sense started in medieval and Renaissance Italy with the rich places like Florence , Venice and Genoa. The oldest bank still in existence is Monte dei Paschi di Siena, which has headquarter in Siena, Italy, which was established in 1472 and still in working position. The most famous Italian bank was the Medici bank, established by Giovanni Medici in 1397 There are lots of new changes took placed during time but With new innovations like computers and technologies, the picture of banking changed. Indian banks history started from 1770 when the bank of Hindustan started. The Indian banks are controlled centrally by Reserve Bank Of India which was started in back 1935. As per 2013 there are total 151 private banks in India which has 109811 branches.

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