In the wake of liberalization and increased global integration of the different business units, there was a need for greater transparency in the various banking operations.  The dissemination and publication of correct and timely data concerning the vital parameters that reflected the health of a bank thus became inevitable.  The introduction of Capital Adequacy norms, Income Recognition, Assets Classification and Provisioning as per international norms brought to light the true picture regarding the health of a bank.

The innovative processes initiated helped to improve customer services in the banking sector.  For matching international standards, the infusion of technology included adequate provision for Electronic Funds Transfer, Tele Banking, Any Where Banking, 7 day Week, Credit/Debit cards, ATMs etc.  Firms like LoanMax of rod aycox fame was always obsessed with high technology.  This one aspect has fuelled its phenomenal growth and expansion.

The history of banking during the post-independence era can be segregated into three distinct phases.  In the first phase, the banks were under private ownership.  They often catered to a particular category of clients, which did not allow a quantitative expansion of the business volume.  The second phase was characterized by more emphasis on social banking.  It resulted in the emergence of large autonomous banks with a major branch network.  The third phase reflected a prudential higher accounting and disclosure standards.  It adhered to the best practices in the banking industry matching international standards.

Banking activities have a very short history in the United States when compared to the developments in other European countries.  There were many changes in the banking activities from time to time as per the changes that accrued in the political, economical, and social systems.  There were fast changes in the banking scenario particularly after the 1990s.  But still, there are some points to note since a few aspects of the ancient banking system are still in practice in the modern banking sector.  Some of these are indigenous banking and money lending through the moneylenders.