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List of Commercial Banks in India

>> April 23, 2010

There are large number of commercial banks in India whose aim is to sell financial products like short term and long term loans for construction of house, paying personal expenses and buying of cars, bikes and other vehicles and mutual funds and insurance products. We can divide commercial banks into nationalized banks and private sector banks.

A. Nationalized Commercial Banks in India

1. State Bank of India

State Bank of India (SBI) is the largest bank in India.The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. The Government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the Government took over the stake held by the Reserve Bank of India.

2. Allahabad Bank

Allahabad Bank which began operations in 1865, now has its head-quarters in Kolkata. Currently the bank has 2260 branches [1] across the country. The Chairman and Managing Director of the bank is Shri J P Dua. The bank has a branch in Hong Kong and a representative office in Shenzen. The bank's internet banking is maintained by EBankWorks Team of TCS.

3. Andhra Bank

Andhra Bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs. The Bank crossed many milestones[clarification needed] and the Bank's Total Business as on 30.06.2008 stood at Rs.83,256 Crores with a Clientele base over 1.74 Crores.

4. Bank of Baroda

Bank of Baroda is the third largest Public Sector bank in India, after State Bank of India and Punjab National Bank. BoB has total assets in excess of Rs. 2.27 lakh crores, or Rs. 2,274 billion, a network of over 3000 branches and offices, and about 1100+ ATMs. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, credit cards and asset management.

5. Bank of India

Bank of India (BoI), established on 7 September 1906 is a bank with headquarters in Mumbai. Government-owned since nationalization in 1969, It is one of India's leading banks, with about 3140 branches including 27 branches outside India. BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications) in India which facilitates provision of cost-effective financial processing and communication services. The Bank completed its first one hundred years of operations on 7 September 2006.

6. Bank of Maharashtra

Bank of Maharashtra is the premier bank of Maharashtra, operating in the country of India.Registered on 16th Sept 1935 with an authorized capital of Rs 10.00 lakh and commenced business on 8th Feb 1936.

7. Canara Bank

Canara Bank is a major commercial bank. It was established in India in 1906, which makes it among the older Indian banks. As on 2009 November, the bank had a network of 2861 branches, spread across India and other countries. Its head office is located in Bangalore, India. The bank also has international presence in several centers, including London, Hong Kong, Moscow, Shanghai, Doha, and Dubai. In terms of business it is one of the largest nationalized commercial banks in India, with a total business of about Rs.2 trillion.

8. Central Bank of India

Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India based in Mumbai[1]. The bank currently has 3,563 branches and 270 extension counters across 27 Indian states.

9. Corporation Bank

Corporation Bank, founded in 1906 in Udupi, Karnataka state, India, is one of the Indian banks in Public Sector Undertaking. The bank was founded with an initial capital of Rs. 5000 (USD 100), and first day’s canvassed resources of less than one USD 1, has currently (31 March 2004) 12,724 full time employees, and operates from several branches in India.The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in October 1997 and 37.87% of Share Capital is presently held by the Public and Financial Institutions. The Bank’s Net Worth stood at Rs.3,054.92 crores as on 31 March 2005.

10. Dena Bank

Dena Bank (Hindi: देना बैंक) (founded 26 May, 1938) is one of the earliest banks in India headquartered in Mumbai.

B. Privatized Commercial Banks in India

1. Axis Bank

Axis Bank, previously called UTI Bank, was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation Ltd., National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company UTI-I holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country. The bank changed its name to Axis Bank in April 2007 to avoid confusion with other unrelated entities with similar name.Shikha Sharma was named as the bank's managing director and CEO on 20 April 2009.

2. HDFC Bank

HDFC Bank Ltd. (BSE: 500180, NYSE: HDB) is a commercial bank of India, incorporated in August 1994, after the Reserve Bank of India allowed establishing private sector banks. The Bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. HDFC Bank has 1,412 branches and over 3,295 ATMs, in 528 cities in India, and all branches of the bank are linked on an online real-time basis.

3. ICICI Bank

ICICI Bank (BSE: ICICI) (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank by market capitalisation and second largest overall in terms of assets. total assets of Rs. 3,562.28 billion (US$ 77 billion) at December 31, 2009 and profit after tax Rs. 30.19 billion (US$ 648.8 million) for the nine months ended December 31, 2009. The Bank also has a network of 1,700+ branches (as on 31 March, 2010) and about 4,721 ATMs in India and presence in 18 countries, as well as some 24 million customers (at the end of July 2007).

4. IndusInd Bank

IndusInd Bank Limited is a Mumbai based Indian new generation bank,[1][2] established in 1994. The bank offers commercial, transactional and electronic banking products and services. Indusind Bank was incorporated in April 1994 by Dr. Manmohan Singh the then Union Finance Minister. Indusind Bank is the first among the new-generation private banks in India.

5. Kotak Mahindra Bank

The Kotak Mahindra group is a financial organization established in 1985 in India. It was previously known as the Kotak Mahindra Finance Limited, a non-banking financial organization. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank.

6. Yes bank

YES BANK, India’s new age private sector Bank, is an outcome of the professional entrepreneurship of its Founder, Rana Kapoor and his highly competent top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the “Future Industries of India”. YES BANK is the only Greenfield license awarded by the RBI in the last 15 years, associated with the finest pedigree investors. YES BANK has fructified into a “full service” commercial Bank that has steadily built Corporate and Institutional Banking, Financial Markets, Investment Banking, Corporate Finance, Business and Transaction Banking, Retail and Wealth Management business lines across the country, and is well equipped to offer a range of products and services to corporate and retail customers.

7. ING Vysya Bank

ING Vysya Bank Limited, is an Indian retail bank, formed after the global financial institution ING acquired a 44% stake in Vysya Bank Ltd in October 2002, and took over management of the bank.

8. Jammu and Kashmir Bank

The Jammu & Kashmir Bank was founded on October 1 1938 under letters patent issued by the Maharaja of Kashmir, Hari Singh. The Maharaja invited eminent Kashmiri investors to become founding directors and shareholders of the bank, the most notable of which were Abdul Aziz Mantoo, Pesten Gee and the Bhaghat Family, all of whom acquired major shareholdings.

9. Karnataka Bank

Karnataka Bank Limited is a private sector banking institution based in the town of Mangalore in Karnataka, India. The Reserve Bank of India has designated Karnataka Bank as an A-class scheduled commercial bank.

10. Tamil Nadu Mercantile Bank

Tamil Nadu Mercantile Bank is a bank headquartered in Tuticorin in Tamil Nadu, India. It was founded by members of Nadar Mahajana Sangam in 1921. The bank was registered on 11 May, 1921 as Nadar Bank Ltd. M. V. Shanmugavel Nadar was elected as the first Chairman on 4 November 1921. The bank was opened to the public by T. V. Balagurusamy Nadar on 11 November 1921 to public in Ana Mavanna Building at South Raja Street, Tuticorin. For year 2008-2009 fiscal year, the bank reported a net profit of Rs.183 crore.

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