As a public enterprise, banking, was started as we know it today, made its first beginning around the middle of the twelfth century in italy. The 'Bank of Venice', founded in 1157, was the first public banking institution. After its establishment, ware established the 'Bank of Barcelona' and the 'Bank of Genoa' in 1401 and 1407 respectively. The important participants of the Indian Financial Systems are the commercial banks, the financial institutions, investment institutions, the state level development banks, non banking financial companies (NBFCs), and other market intermediaries. NBFCs and commercial banks are the oldest in the market participants.
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