TOP 10 BANKS IN INDIA: RBI RESERVE
WE ARE TALKING ABOUT THE TOP 10 BANKS AND THIS LIST INCLUDES THE TOP 10 GOVERNMENT BANKS AND ALSO THE TOP 10 PRIVET BANK IN INDIA COMBINED MAKE A LIST OF THIS.
SO SOME BASIC INFO THAT ALL INDIAN BANK WAS CONTROLLED BY RBI.SO THE TOP 10 BANKS OF INDIA ARE.
List of Top 10 Banks in India 2023
- State Bank of India
- Punjab National Bank
- Union Bank of India
- HDFC Bank
- ICICI Bank
- Kotak Bank
- Bank of Baroda
- Bank of India
- Axis Bank
- canara bank
THESE ARE THE TOP 10 BANKS IN INDIA IN 2023.
STATE BANK OF INDIA
State Bank of India (SBI) is a well-known Indian multinational public sector banking and financial services company with its headquarters in Mumbai. With over 200 years of rich heritage and legacy, SBI has gained the trust of generations of Indians, making it the most trusted bank in the country.
The bank's core values are centered around service, transparency, ethics, politeness, and sustainability, while constantly striving to focus on innovation and customer-centricity.
SBI is the largest bank in India, with a market share of one-fourth, and serves over 44 crore customers through its extensive network, which includes more than 20,000 branch offices, 58,500 ATM centers, and 66,000 BC outlets. Furthermore, the bank has a presence in 22 countries across the globe, with around 233 offices.
Apart from its banking services, SBI has diversified into other businesses and has 11 subsidiaries, including SBI Mutual Fund, SBI Life Insurance, SBI General Insurance, SBI Card, and others.
Additionally, SBI offers attractive investment options for customers, such as SBI FD Rates and SBI Recurring Deposit Rates. Moreover, SBI Mutual Funds are among the best options available for those looking to invest in mutual funds.
website https://sbi.co.in/
PANJAB NATIONAL BANK
Punjab National Bank (PNB) is a government-owned bank that was founded in Lahore in 1894. It is the second-largest government bank in India, with a global business of INR 18,09,587 crore. Over the years, nine banks have been merged with PNB, including Oriental Bank of Commerce and United Bank of India.
With a pan-India presence, PNB has a network of 10,925 branches, 13,914 ATMs, and 12,346 business correspondents as of December 2020. Its low-cost Current Account and Savings Account Deposits (CASA) account for 44.66% of these deposits.
PNB has two international branches in Hong Kong and Dubai, and two overseas subsidiaries in London and Bhutan named PNB International Limited and Druk PNB Bank Limited, respectively. Additionally, it has a joint venture in Nepal under the name Everest Bank Ltd.
PNB focuses on digitalization, and its mobile banking users crossed 96 lakhs, and internet banking users have crossed 250 lakhs. In 2020, it won awards such as the Most Innovative Public Sector Bank of the Year by ET-BFSI Excellence Awards 2020 and the Winner of the Most Innovative Project Using Technology – PNBOne by IBA Banking Technology Award 2020.
website https://www.pnbindia.in/
UNION BANK OF INDIA
HDFC Bank's core values are centered around excellence, customer focus, product leadership, people, and sustainability. The bank has three main businesses: retail banking, wholesale banking, and treasury.
Union Bank of India is a prominent public sector bank in India, listed on the stock exchange. With the government of India holding an 89.07% stake in the bank, it was founded in 1919 and has its headquarters in Mumbai, Maharashtra. Union Bank of India has a vast network of 9500+ domestic branches, 13,300+ ATMs, and over 11,700 business correspondent points, with a dedicated workforce of over 75,000 employees serving more than 120 million customers.
The bank has a global presence with three overseas branches in Sydney, Dubai, and Hong Kong, a representative office in Abu Dhabi, one subsidiary in London, and a joint venture in Malaysia. It also has three para-banking subsidiaries and three joint ventures, including two in the life insurance business.
Union Bank of India's business increased to INR 15,34,749 crore after merging with Andhra Bank and Corporation Bank. In 2020, the bank won several awards in technology, innovation, and financial inclusion, further cementing its position as a leading player in the Indian banking industry.
HDFC
HDFC Bank is a private financial institution that was founded in August 1994, and it was the first private bank to receive 'in-principle' approval from the Reserve Bank of India (RBI). The bank has its registered office in Mumbai and operates in over 2,902 cities and towns with more than 5,608 branches and 16,087 ATMs across India.
HDFC Bank's core values are centered around excellence, customer focus, product leadership, people, and sustainability. The bank has three main businesses: retail banking, wholesale banking, and treasury.
In retail banking, HDFC Bank offers a diverse range of financial products and banking services to its customers. The bank's growing network of branches and ATMs, as well as its digital channels such as Net banking, Phone banking, and Mobile banking, make it easy for customers to perform transactions.
Wholesale banking provides commercial and transactional banking services to organizations and businesses, including working capital finance, trade services, cash management, and transactional services.
Under the Treasury business, HDFC Bank helps businesses generate better returns from their funds. The bank focuses on three main product areas: equities, money market and debt securities, foreign exchange, and derivatives.
website https://www.hdfcbank.com/
ICIC
ICICI Bank is a prominent private bank in India. It was established in 1994 as part of the ICICI group, which was formed in 1955 by the World Bank, the Indian government, and representatives from the Indian industry. The aim was to create a development financial institution that would provide long-term financing to Indian companies, primarily in infrastructure.
However, with the liberalization of India's financial sector in the 1990s, ICICI transformed into a diversified financial services provider. Today, ICICI Bank offers a broad range of banking and financial services to both corporate and retail customers through various delivery channels and subsidiaries.
ICICI Bank has a vast network of 5,288 branches and 15,158 ATMs across India. It is the first Indian corporation and the first non-Japanese Asian bank to be listed on the New York Stock Exchange. ICICI Bank's services include personal and commercial banking, loans, investment banking, wealth management, insurance, and much more. Its focus on innovation and technology has enabled it to provide a range of digital banking solutions, including mobile banking, internet banking, and online investment platforms.
website https://www.icicibank.com/
KOTAK BANK
Kotak Mahindra Finance Ltd. was established in 1985 and has now become one of India’s most reputable financial institutions.
Kotak Mahindra Bank has a vast network of over 1,600 branches and 2,519 ATMs. With over 23 million active customers, the bank has an international presence in the USA, the Middle East, London, and Singapore.
The bank is dedicated to identifying new opportunities by innovating across products, services, and technologies. It offers a wide range of services to individuals and corporations, including banking (consumer, commercial, and corporate), equity broking, credit and financing, insurance (general and life), wealth and asset management, and investment banking.
Bank of Baroda
Bank of Baroda, which began a century ago in a small building, has grown to become a global presence across 19 countries. Founded in 1908, the bank has over 8,581 branches, including 96 overseas branches, serving more than 131 million customers. The bank has a strong presence in rural and semi-urban areas. Recently, the Bank of Baroda merged with Dena Bank and Vijaya Bank.
Bank of Baroda has six subsidiaries in the domestic market, capital markets, and financial solutions, as well as joint ventures in insurance. The bank also has subsidiaries in seven countries, including Botswana, Kenya, Uganda, Guyana, New Zealand, Tanzania, and the UK. In addition, it has joint ventures in Malaysia and Zambia. In 2020, Baroda Gurkul won the "Baroda Radio & Best Learning Platform Implementation of the Year" award.
In addition, the Bank of Baroda has a strong focus on digital banking and has introduced various digital initiatives to enhance customer experience and convenience. These initiatives include mobile banking, internet banking, and digital wallets. The bank has also launched a range of innovative products and services such as instant loans, contactless debit and credit cards, and voice-based banking services.
website https://www.bankofbaroda.in/
BANK OF INDIA
Bank of India, a private bank established in Mumbai in 1906, was one of the 13 banks that were nationalized in 1969. Since then, the bank has expanded its operations both within and outside India.
With more than 5000 branches in India, controlled by 55 zonal offices and 8 NGB offices, the Bank of India has a strong domestic presence. It also has an international presence in 18 countries across five continents, with 52 offices, four subsidiaries, one representative office, and one joint venture. The bank first issued shares to the public in 1997.
Bank of India has been a pioneer in introducing innovative services and systems. It was one of the first nationalized banks to introduce a fully computerized branch and ATM facility in 1989. The bank continues to leverage technology to improve its customer experience and streamline its operations.
website https://bankofindia.co.in/
AXIS BANK
Axis Bank, established in 1994, is a leading private bank in India offering a comprehensive range of financial services catering to diverse customer segments. These include large and midcap corporates, retail businesses, agriculture, and MSME sectors.
With a vast network, Axis Bank has 4,594 branches (including 4,050 in India), 11,333 ATMs, and 5,710 cash recyclers spanning the country. It conducts international operations through eight offices in six countries, mainly focusing on investment banking, liability businesses, corporate lending, trade finance, and syndication.
As of 31st March 2021, the bank's balance sheet size stands at INR 9,96,118 crores, with a five-year CAGR of 13%, 13%, and 15% in assets, advances, and deposits, respectively. The bank has 11 subsidiaries in India, including businesses such as capital markets, securities, private equity, trustee services, and asset management services.
website https://www.axisbank.com/
CANARA BANK
Canara Bank has a rich history, being established in 1906 as Canara Hindu Permanent Fund Ltd, and was later renamed Canara Bank in 1910. It was one of the 14 banks that were nationalized in 1969. The bank is renowned for its customer-centric approach and has evolved into a ‘Financial Conglomerate’ with nearly ten subsidiaries and joint ventures in India and abroad.
As of December 2020, Canara Bank operates through 10,491 branches, and 12,973 ATMs, and has a customer base of 10.90 crore customers. The bank has achieved several milestones in over a century, such as being the first to launch an inter-city ATM, issue credit cards to farmers, and obtain an ISO certificate for a branch.
In addition to its extensive domestic network, Canara Bank has branches in six countries, including the UK, Hong Kong, the USA, UAE, Russia, and Tanzania. The bank's subsidiaries span asset management companies, financial services, securities, venture capital, and bank securities. In 2020, the bank received recognition for its achievements in technology, innovation, and financial services.
website https://canarabank.com/
THIS ARTICLE BY: FIZZY BOIII
/ ON FINANCIAL STUPID /
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