Bank and Banking system evolved into a vital socio-economical institution in the modern age and backbone of any country. This has been largely influenced by the socio-political and economic changes that have been witnessed at large.
As a developing state, India has been influenced by these developments which led to the evolutionary effect on banking structure, policies, pattern and practices resulting in transforming from generic banking to specializing. We can categorize banks as commercial banks, co-operative banks, development banks, agricultural banks and specialized bank e.g. Exim Bank.