The document summarizes the history and development of banking in India. It discusses how banking originated in the late 18th century and the oldest existing bank is State Bank of India. It then covers the nationalization of banks in 1969 and 1980, the introduction of private banks in 1990s, and the major functions and regulatory tools of the Reserve Bank of India such as Cash Reserve Ratio, Statutory Liquidity Ratio, repo rate, reverse repo rate, and bank rate which are used to control money supply and credit in the economy.