BANKING AFFAIRS

Detailed explanation-1: -(5 of 1970). National Institute of Bank Management (NIBM) established at Bombay (Mumbai).

Detailed explanation-2: -The most prominent amongst the early credit societies was the Bombay Urban Co-operative Credit Society, sponsored by Vithaldas Thackersey and Lallubhai Samaldas established on January 23, 1906..

Detailed explanation-3: -Though banks were seemingly nationalized overnight in 1969, it was long coming since independence. In 1948, the Congress’ Economic Programme Committee, chaired by Jawaharlal Nehru, suggested nationalizing Imperial Bank of India.