What do you know by the evolution of financial system in India?

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·         When it comes to the financial system in India, there were continuous developments since 1770 as per details mentioned below:

·         The first bank in India was set up on modern lines during the year 1770

·         The earliest and short lived attempt in order to establish a central bank in the country was done during the year 1773

·         Bombay stock exchange known as BSE was made functional during the year 1870

·         Oriental Insurance Company was set up during the year 1818

·         General Non Life Insurance Company was set up during the year 1850

·         Reserve Bank of India was established on 01.04.1935

·         Unit Trust of India came into existence during the year 1964

·         Export Risk Insurance Corporation was set up during July 1967

·         Export Credit Guarantee Corporation was established during January, 1964

·         Deposit insurance Corporation was set up during the year 1962