India is the largest economy in the world having more than 120 crore population. The economic reforms initiated by the Government of India about two decades ago have changed the landscape of several sectors of the Indian economy. The Indian banking sector is no exception. This sector is going through major changes as a consequence of economic reforms. Today in India the service sector is contributing half of the Indian GDP and the banking is most popular service sector in India. The significant role of the banking industry is essential to speed up the social economic development. Banks plays an important role in the economic development of developing countries. Economic development involves investment in various sectors of the economy