Indian Banks Association (IBA), formed on 26 September, 1946 as a representative body of management of banking in India operating in India - an association of Indian banks and financial institutions. With an initial membership representing 22 banks in India in 1946, IBA currently represents 150 banking companies operating in India. IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members. Indian Banks Association is managed by a managing committee, and the current managing committee consists of one chairman (current chairman, T. S. Narayanasami, CMD of Bank of India), four deputy chairmen, one honorary secretary, and 31 members.
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