In the Indian context, banking is really the proxy and indeed the corner stone of overall economic growth of the country. According to C.H. Bhabha, “Banking is the kingpin of the chariot of economic progress. As such its role in expanding economy of a country like India can neither be underestimated nor overlooked. The success of our plan is dependent among other things, on the smooth and satisfactory performance of the role by banking industry of our country.