Indian Banks Association - IBA
The Indian Banks Association (IBA) was found on the 26th September, 1946 with 22 members. Today IBA has more than 156 members comprising of Public Sector banks, Private Sector banks, Foreign banks working in India, Urban Co-operative banks, Developmental financial institutions, Federations, merchant banks, mutual funds, housing finance corporations, etc.
Functioning of IBA
- To promote sound and progressive banking principles and practices.
- To render assistance and to provide common services to members.
- To organise co-ordination and co-operation on procedural, legal, technical, administrative and professional matters.
- To pool together expertise towards common purposes such as reduction in costs, increase in efficiency, productivity and improve systems, procedures and banking practices.
- To collect, classify and circulate statistical and other information.
- To encourage sports and cultural activities among bank employees.
- To project good public image of banking through publicity and public relations.