Synopsis Institutional credit support plays a catalytic role in accelerating the pace of economic development of a country.  In the context of developing economy of India, bank finance plays a crucial role in pushing the agricultural economy on to the progressive pathway and helping develop rural India.  Indian banking, appreciably, over the years, has emerged from being a purveyor of credit to be an engine of economic development.  A historic review of the State Bank of India, a giant among the public sector commercial banks, and the subsequently in n ationalized commercial  banks, reveals the emerging promising trends in the deposit mobilization, deployment of credit with developmental dimension added to it, prioritization of sectoral financing and social responsibility assumed by the banks.  Along with promising trends in the progressive march of the public sector banks, certain disturbing trends are notice.  Hence, the vital importance of making an in-depth study of the changing trends in the Indian public sector commercial banks so that policy sector commercial banks so that policy corrections can be made for enabling them play a more effective developmental role in the context of resurgent national economy of India.