The vote share of the INC was 45 per cent of all votes cast. This is a list of rulers of Bengal.For much of its history, Bengal was split up into several independent kingdoms, completely unifying only several times. [278] However, it has not signed Nuclear Non-Proliferation Treaty (NPT) and Comprehensive Nuclear-Test-Ban Treaty (CTBT) due to their discriminatory and hegemonistic nature. [275] In April 2006, New Delhi hosted an IndiaAfrica summit attended by the leaders of 15 African states. The amalgamation became effective from 1 April 2019. [140][141], Rajiv Gandhi was succeeded as party leader by P. V. Narasimha Rao, who was elected prime minister in June 1991. The prime minister of India (IAST: Bhrat k Pradhnmantr) is the head of government of the Republic of India. As a percentage of the country's per-capita GDP (gross domestic product), this is the lowest of all countries The Economist surveyed. It was structured as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry. Hume took the initiative, and in March 1885 a notice convening the first meeting of the Indian National Union to be held in Poona the following December was issued. Working Committee of the Congress. [72] During his tenure, Nehru implemented policies based on import substitution industrialisation, and advocated a mixed economy where the government-controlled public sector co-existed with the private sector. [51] He formed an alliance with the Khilafat Movement in 1920 to fight for preservation of the Ottoman Caliphate, and rights for Indians using civil disobedience or Satyagraha as the tool for agitation. [215] This was a guarantee of de facto use of both Hindi and English as official languages, thus establishing bilingualism in India. In 2008 the Reserve Bank of India introduced a system to allow cheque truncationthe conversion of cheques from physical form to electronic form when sending to the paying bankin India, the cheque truncation system as it was known was first rolled out in the National Capital Region and then rolled out nationally. The bank has a long-term foreign currency credit rating of Baa1 from Moody's. Sonia Gandhi retired as party president in December 2017, having served for a record nineteen years. [253], Manmohan Singh's administration initiated a massive reconstruction effort in Kashmir to stabilize the region and strengthened anti-terrorism laws with amendments to the Unlawful Activities (Prevention) Act (UAPA). [305][306] In Jharkhand, it shares power as a junior ally with Jharkhand Mukti Morcha. After Nehru's death and the short tenure of Lal Bahadur Shastri, Indira Gandhi became the leader of the party. For the historic house in the United States, see, Rescue of private and co-operative banks (2020s). In 1975, President Fakhruddin Ali Ahmedon Indira's adviceimposed a state of emergency, therefore, bestowing the government with the power to rule by decree, the period is known for human right violations.[24][25]. Pubali Bank Ltd. is the Largest Commercial private bank having 482 branches. The proposal would create the seventh largest PSB in the country with assets of 8.08 lakh crore (US$100billion). Sangli Bank was a private sector unlisted bank, founded in 1916, and 30% owned by the Bahte family. The Constitution envisions a scheme of affairs in which the president of India is the head of state; in terms of Article 53 with office of the prime minister being the head of Council of Ministers to assist and advise the president in the discharge of his/her constitutional functions. Subsequently, Morarji Desaia former deputy prime ministerbecame the first non-Congress prime minister of India. Manmohan Singh served two complete terms as the Prime Minister and headed United Progressive Alliance (UPA) governments two times. [9], The training of newly recruited as well as present staff is overseen by seven training colleges around India:[10], The Bank's Regional presence includes 3,078 branches and 2,564 ATMs. The Prime Minister shall be appointed by the President and the other Ministers shall be appointed by the President on the advice of the Prime Minister. The government has developed initiatives to address this through the State Bank of India expanding its branch network and through the National Bank for Agriculture and Rural Development (NABARD) with facilities like microfinance. The Swadeshi movement inspired local businessmen and political figures to found banks of and for the Indian community. The Banking Codes and standards Board of India is an independent and autonomous banking industry body that monitors banks in India.To improve the quality of banking services in India S S Tarapore (former deputy governor of RBI) had the idea to form this committee. Several institutions are named after prime ministers of India. It has a regional political alliance in Tamil Nadu named the Secular Progressive Alliance, and in Kerala, it is the United Democratic Front.[308][309]. [127] Her assassination prompted the 1984 anti-Sikh riots, during which 3,00017,000 people were killed. [61] In January 2019, based on the report of an enquiry panel headed by Justice Srikrishna, the bank board officially terminated her from service. [55] Vajpayee's tenure as prime minister came to an end in May 2004, making him the first non-Congress PM to complete a full five-year tenure. Modi is the 14th and current prime minister of India, serving since 26 May 2014. Fairy tales, both old and new, often use the concept of ghosts.References to ghosts are often found in modern-day Bengali literature, cinema, radio & It is one of the emerging and growth-leading economies of the world. Global financial crisis and key risks: impact on India and Asia. [39][40] Notable representatives included Scottish ICS officer William Wedderburn, Dadabhai Naoroji, Pherozeshah Mehta of the Bombay Presidency Association, Ganesh Vasudeo Joshi of the Poona Sarvajanik Sabha, social reformer and newspaper editor Gopal Ganesh Agarkar, Justice K. T. Telang, N. G. Chandavarkar, Dinshaw Wacha, Behramji Malabari, journalist, and activist Gooty Kesava Pillai, and P. Rangaiah Naidu of the Madras Mahajana Sabha. [178] Defection resulted loss of its established governments in Arunachal Pradesh, Madhya Pradesh, Goa, Karnataka, Puducherry (UT), and Manipur. The CLP consists of all Congress Members of the Legislative Assembly (MLAs) in each state. [46][47] A few months later in response to the Indian nuclear tests, Pakistan also conducted nuclear tests. We are like some old fashioned sailing ship, divided by solid wooden bulkheads into separate and cumbersome compartments. The parent company was later merged with the bank. [75][76], During his period in office, there were four known assassination attempts on Nehru. By FY 2020-21 the corpus of the PM Cares Fund was around Rs 10990 crore.[132]. Mohan, R., 2008. [16][17][18][19] Khan was arrested hours after the Ministry of Finance appointed him acting managing director of the bank along with two other officials. Grindlays Bank opened its first branch in Calcutta in 1864. Rao later resigned as prime minister and, in September, as party president. Ltd. POWERGRID Infrastructure Investment Trust, National Commodity and Derivatives Exchange, Odisha Rural Housing & Development Corporation, National Bank for Agriculture and Rural Development, The Banking Companies (Acquisition And Transfer Of Undertakings) Act, 1970, https://en.wikipedia.org/w/index.php?title=ICICI_Bank&oldid=1119575314, Companies listed on the New York Stock Exchange, Companies formerly listed on the London Stock Exchange, Financial services companies based in Mumbai, Companies listed on the National Stock Exchange of India, Companies listed on the Bombay Stock Exchange, Articles with dead external links from April 2021, Short description is different from Wikidata, All Wikipedia articles written in Indian English, Creative Commons Attribution-ShareAlike License 3.0, Industrial Credit and Investment Corporation of India, 1996: ICICI Ltd. A diversified financial institution with headquarters in Mumbai. The BJP-led NDA winning 354 seats out of which BJP secured 303 seats.[76]. The By the 2nd century CE, usury became more acceptable. Article 75 of the Constitution of India confers the Parliament with the power to decide the remuneration and other benefits of the prime minister and other ministers are to be decided by the Parliament. [112][113] There are several helicopters, such as Mi-8, used for carrying the prime minister over short distances. Congress has enjoyed overwhelming electoral majority for over decades in Arunachal Pradesh, Delhi, Kerala, Maharashtra and Punjab. The following banks were nationalized in 1969: A second round of nationalizations of six more commercial banks followed in 1980. Indira's first term in office lasted 11 years, in which she took steps such as nationalisation of banks;[19] end of allowances and political posts, which were received by members of the royal families of the erstwhile princely states of British India. Around the turn of the 20th century, the Indian economy was passing through a relative period of stability. He expanded infrastructure programmes such as the National Highway Development Programme. [228] Rao chose Manmohan Singh for the job. Rajiv Gandhi became the first prime minister to use 7, Lok Kalyan Marg as his residence, which was used by his successors.[110]. The second was by a knife-wielding rickshaw-puller in Maharashtra in 1955. [48] Given the deteriorating situation between the two countries, the governments tried to improve bilateral relations. Singh, an acclaimed economist and former chairman of the Reserve Bank, played a central role in implementing these reforms. India was able to resist the worst effects of the global economic crisis of 2008. The earlier years saw a limited presence of rivals who were mostly public sector entities. [51] In the subsequent October 1999 general election, the BJP-led NDA and its affiliated parties secured a comfortable majority in the Lok Sabha, winning 299 of 543 seats in the lower house. The Government of India and Reserve Bank of India ordered an inquiry following the expos. [262] In 2006, it implemented a proposal to reserve 27 per cent of seats in the All India Institute of Medical Studies (AIIMS), the Indian Institutes of Technology (IITs), the Indian Institutes of Management (IIMs), and other central higher education institutions, for Other Backward Classes, which led to the 2006 Indian anti-reservation protests. The Vedas are the ancient Indian texts mention the concept of usury, with the word kusidin translated as "usurer". : 259 The R&AW was given the responsibility for strategic external intelligence, In April 2020, RBI enlisted SBI to rescue the troubled lender Yes Bank, in the form of investment with assistance from other lenders viz., ICICI Bank, HDFC Bank and Kotak Mahindra Bank. [18] The INC supports contemporary economic reforms such as liberalisation, globalisation, and strategic disinvestment. [263] The Singh government also continued the Sarva Shiksha Abhiyan program, which includes the introduction and improvement of mid-day school meals and the opening of new schools throughout India, especially in rural areas, to fight illiteracy. [20], Following these removals, Mohammad Shams-Ul Islam was appointed the new managing director in August 2016. Kamaraj was widely credited as the "kingmaker" in for ensuring the victory of Lal Bahadur Shastri over Morarji Desai. The symbol of Indira's Congress(R) or Congress (Requisitionists) during the 19711977 period was a cow with a suckling calf. The new wave ushered in a modern outlook and tech-savvy methods of working for traditional banks. Known in Bangladesh as "Sugar Zafar", Kazi Zafar Ahmed, because of his alleged role in the hijacking of a multimillion-dollar aid shipment of sugar, he was sentenced to 15 years' jail in absentia on corruption charges by a Dhaka court in November 1999. In the intervening years, the party was successful at various legislative assembly elections; at one point, Congress ruled 15 states. History. [209], Under Narsimha Rao's premiership, the Panchayati Raj and Municipal Government got constitutional status. It failed in 1958. [127] The fundaccording to its websiteis "entirely dependent on voluntary contributions from the public and does not get any budgetary support.". Currently, Bangladesh Awami League again has become the dominant political force since 2008. [287] Nonetheless, in 2004, when the Congress was voted back into power, Manmohan Singh became the first Prime Minister not to be the president of the party since establishment of the practice of the president holding both positions. This resulted in more functional specialisation, decentralisation of administration and emphasis on development of personnel skill and attitude. [34] This came a month after the SBI board had, on 17 May 2016, cleared a proposal to merge its five associate banks and Bharatiya Mahila Bank with itself. These included an employment guarantee bill, the Right to Information Act, and a right to education act. [7], In 1991, Bank of Commerce acquired United Asian Bank; in time CIMB came to own Bank of Commerce. [285] Each PCC has a working committee of twenty members, most of whom are appointed by the party president, the leader of the state party, who is chosen by the national president. By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. ICICI Bank Canada is a member of several esteemed trade association; as well as the Canadian Bankers Association (CBA);[43] a registered member with the Canada Deposit Insurance Corporation (CDIC),[44] a federal agency insuring deposits at all of Canada's chartered banks; Interac Association;[45] Cirrus Network; and The Exchange Network.[46]. Shastri's tenure saw the Indo-Pakistani War of 1965. The president's constitutional duty is to preserve, protect and defend the Constitution and the law per article 60. As a result of prevailing nationalism, Gandhi's popularity, and the party's attempts at eradicating caste differences, untouchability, poverty, and religious and ethnic divisions, Congress became a forceful and dominant group. [59][60], On 4 October 2018, the then MD & CEO Chanda Kochhar stepped down from her position following allegations of corruption. In November 1989, general elections were held to elect the members of the 9th Lok Sabha. However, another split occurred in 1979, leading to the creation of the Congress (I), which was recognized as the Congress by the Electoral Commission in 1981. The goals of Rao's government were to reduce the fiscal deficit, privatise the public sector, and increase investment in infrastructure. Shastri became a national hero following victory in the Indo-Pakistani War of 1965. Mukherjee declared the expansion in government spending was only temporary. Initially the fund was used to procure COVID emergency products like ventilators, PPE kits for frontline workers and also funding the vaccine resaearch efforts and procurement. In response to increasing disorder and lawlessness, Gandhi's ministry recommended that President Fakhruddin Ali Ahmed declare a State of Emergency, based on the provisions of Article 352 of the Constitution. A number of cases were filed against the bank and its employees for using "brutal measures" to recover the money. As of 2009[update], the bank has 11 Circle offices, 34 Divisions in head office, 62 zonal offices and 941 branches including 27 corporate and 40 AD (authorized dealer) branches. The Partition of Bengal in 1947, part of the Partition of India, divided the British Indian province of Bengal based on the Radcliffe Line between the Dominion of India and the Dominion of Pakistan.The Hindu-majority West Bengal became a state of India, and the Muslim-majority East Bengal (now Bangladesh) became a province of Pakistan.. On 20 June 1947, the Bengal Legislative Assembly [85] While the work of the government is generally divided into various ministries, the prime minister may retain certain portfolios if they are not allocated to any member of the cabinet. [113], On 12 June 1975, the High Court of Allahabad declared Indira Gandhi's election to the Lok Sabha, the lower house of India's parliament, void on the grounds of electoral malpractice. However, the designation I was dropped only in 1996. In January 2022, RBI asked Unity Small Finance Bank Limited (Unity SFB) to take over the operations of the private sector bank Punjab and Maharashtra Co-operative Bank (PMC), following mismanagement and one failed merger attempts with NBFC/SFBs. Generally the supply, product range and reach of banking in India is fairly mature-even though reach in rural India and to the poor still remains a challenge. [2] During FY 202021, its total business was 3.24 lakh crore. In the first parliamentary elections held in 1952, the INC won 364 seats, which was 76 per cent of the 479 contested seats. [90] Shastri appointed Swaran Singh to succeed him as External Affairs Minister. Many notable INC party leader lost their seats, winning only 154 seats in the Lok Sabha. [4], On 15 September 1967, Jalpaiguri Banking and Trading Corporation (JBTC) which had been established in Jalpaiguri in 1887 (or 1889; accounts differ), made a voluntary transfer of its assets and liabilities to United Commercial Bank. [300] However, in recent times there have been calls from within the party to restructure the organization. Notably Her support for the independent candidate, V. V. Giri, rather than the official Congress party candidate, Neelam Sanjiva Reddy, for the vacant post of the president of India[103][104] and Gandhi's abrupt nationalisation of the 14 biggest banks in India. In 2005, it launched its financial advisor services channel. In 1952, in the first general election held after Independence, the party swept to power in the national parliament and most state legislatures. Branch expansion started at a fast pace, particularly in rural areas, and the bank achieved several unique distinctions in Priority Sector lending and other social uplift activities. As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group (United India Insurance Company Limited, Oriental [154], The 1998 general elections saw Congress win 141 seats in the Lok Sabha, its lowest tally until then. [78] Three prime ministers, I. K. Gujral,[37] H. D. Deve Gowda and Atal Bihari Vajpayee have been voted out from office this way. [133] But historically, on various occasions, different governments have assigned one of their senior ministers as the deputy prime minister. [295][107] After losing the support of 76 out of the party's 153 members in the Lok Sabha, Indira's new political outfit the Congress (I) or Congress (Indira) evolved and she opted for the hand (open palm) symbol. "India might be an ancient country but was a young democracy and as such should remain vigilant against the domination of few over the social, economic or political systems. [37][38], Hume organized the first meeting in Bombay with the approval of the Viceroy Lord Dufferin. The Special Protection Group (SPG) is charged with protecting the sitting prime minister and his/her family. In ancient times, Bengal consisted of the kingdoms of Pundra, Suhma, Vanga, Samatata and Harikela.. Agrani Bank Limited (ABL) (Bengali: ) is a state-owned commercial bank of Bangladesh established in 1972. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks. [125] Gandhi was due to be interviewed by British actor Peter Ustinov, who was filming a documentary for Irish television. [67] The Party's rivals at state level have been national parties including the Bharatiya Janata Party (BJP), the Communist Party of India (Marxist) (CPIM), and various regional parties, such as the Telugu Desam Party, Trinamool Congress and Aam Aadmi Party. A small finance bank is a niche type of bank to cater to the needs of people who traditionally have not used scheduled banks. [40] The Union Cabinet and the boards of the banks approved with the merger on 2 January 2019. It was incorporated in November and opened its head office and downtown Toronto branch in December. The party under the stewardship of Nehru had the symbol Pair of bullocks carrying a yoke which struck a chord with masses who were predominantly farmers. What next? [42][43] MD and CEO of UBI, Ashok Kumar Pradhan, stated that the merged entity would begin functioning from 1 April 2020. The law was widely criticized by human rights organizations. [68], A post-partition successor to the party survived as the Pakistan National Congress, a party which represented the rights of religious minorities in the state. In the 17 general elections since independence, it has won an outright majority on seven occasions and has led the ruling coalition a further three times, heading the central government for more than 54 years. [57][58][59], By 2013 the Indian Banking Industry employed 1,175,149 employees and had a total of 109,811 branches in India and 171 branches abroad and manages an aggregate deposit of 67,504.54 billion (US$850billion or 830billion) and bank credit of 52,604.59 billion (US$660billion or 640billion). This led to legal battles and the bank paying huge compensation. State Bank of Indore (Indore Bank) was a government-owned Indian bank and the largest of State Bank of India's (SBI) six associate bank subsidiaries. [79] The fourth was a failed bombing attempt on railway tracks in Maharashtra in 1961. [114][115] The security is aided by the Central Reserve Police Force (CRPF), Border Security Force (BSF) and the Delhi Police to provide three-rung security for the estate. [218][219], At the beginning of the first period, the Congress prime minister Jawaharlal Nehru implemented policies based on import substitution industrialisation and advocated a mixed economy where the government-controlled public sector would co-exist with the private sector. incorporated in 1986, ITC Classic was a non-bank financial firm that engaged in hire, purchase and leasing operations. [269][270] The culture of Bengal defines the cultural heritage of the Bengali people native to eastern regions of the Indian subcontinent, mainly what is today Bangladesh and the Indian states of West Bengal and Tripura, where the Bengali language is the official and primary language. The National Council of Educational Research and Training (NCERT) was established in 1961 as a literary, scientific, and charitable Society under the Societies Registration Act. State Bank of Patiala, founded in 1917, was an associate bank of the State Bank Group.It merged with State Bank of India on 1 April 2017. Later in the year, the Congress party president, S. Nijalingappa, expelled her from the party for indiscipline. [citation needed], After World War II, United Commercial Bank opened several overseas branches. It also become one of the first in the country to ask for a claw back of bonuses and benefits. His rival, Shashi Tharoor, however sprung a surprise by securing 1,072 votes.[2]. At the time, Indian Bank had three branches, and Indian Overseas Bank and United Commercial Bank had eight between them. With the subsequent support of the communist front, Congress won a majority and formed a new government. [133] Typically, senior cabinet ministers like the finance minister or the home minister are appointed as deputy prime minister. [267] Congress has continued the foreign policy started by P.V. Narasimha Rao. Donations to the fund are 100% tax-deductible under section 80G of the Income Tax Act, 1961. In the snap elections called by the National Democratic Alliance (NDA) government in 1999, Congress' tally further plummeted to just 114 seats. [41], On 30 August 2019, Finance Minister announced that the Oriental Bank of Commerce and United Bank of India would be merged with Punjab National Bank, making PNB the second largest PSB after SBI with assets of 17.95 lakh crore (US$220billion) and 11,437 branches. [235] He implemented the Goods and Services Tax (GST) during his tenure. For ground travel, the prime minister uses a highly modified, armoured version of a Range Rover. On 15 July 2010 the Cabinet cleared the merger. is taking place[72] since last decade and has gained momentum in last few years. The social welfare policies of the first UPA government, and the perceived divisiveness of the BJP, are broadly credited with the victory. [18] The Comptoir d'Escompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862; branches followed in Madras and Pondicherry, then a French possession. Indians had established small banks, most of which served particular ethnic and religious communities. In mid-1969, she was involved in a dispute with senior party leaders on several issues. [91] Shastri appointed Indira Gandhi, Jawaharlal Nehru's daughter and former party president, Minister of Information and Broadcasting. JANATA BANK LIMITED MEGHNA BANK LIMITED MERCANTILE BANK LIMITED MODHUMOTI BANK LIMITED In a first of a kind move, Tier- II bond holders have been asked by RBI to write off their holdings in LVB. The original surname of the Tagores was Kushari. He also promoted the White Revolutiona national campaign to increase the production and supply of milk by creating the National Dairy Development Board. Despite the effective loss of 62 seats in parliament, the government survived the trust vote that followed.