The Indian banking sector has developed as one of the strongest parameter towards India’s economic growth. The Indian banking industry has made an exceptional progress in last few years, even during those times when the rest part of the world was struggling with certain financial meltdown. The economic development and financial sector liberalization of India have led to a renovation of the Indian banking sector over the past three to four decades. In view of the vicious circle of perpetuated underdevelopment, it becomes essential to break the process by way of planning of government which involves its intervention in the process of Economic Development. Planning for this development has the objectives of raising the level of savings and bringing about technological changes along with adjustment of economic organisations.