The document outlines the history of banking sector reforms in India. It discusses the nationalization of State Bank of India in 1955 and several other banks between 1960 and 1980 which brought 80% of banking under government ownership. Subsequently, banking reforms introduced many new products and facilities, and liberalized practices with the Narasimham committee in 1991. Foreign banks also entered India, improving services through technologies like ATMs, phone and internet banking.