The Reserve Bank of India ranked Chennai as third-largest deposit centre and third-largest credit centre nationwide as of June 2012. Prior to the advent of modern commercial banks, the banking services in the city were offered to the public by Nattukottai Chettiars or Nagarathars, chiefly in and around the neighbourhood of George Town, who offered loans as well as accepted money deposits from the public, in addition to offering loans to the agricultural labourers.