Banking in India Sumesh

8/9/2019 Banking in India Sumesh

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Banking in India

Banking in India originated in the first decade of 18th century. The first banks

were The General Bank of India, which started in 1786, and Bank of Hindustan.

The oldest bank in existence in India is the State Bank of India, which originated inthe "The Bank of Bengal" in Calcutta in June 1806.The presidency banks were

established under charters from the British East India Company. They merged in

1925 to form the Imperial Bank of India. The Reserve Bank of India formally took

on the responsibility of regulating the Indian banking sector from 1935. After

India's independence in 1947, the Reserve Bank was nationalized and given

broader powers.

History

The first fully Indian owned bank was the Allahabad Bank, established in 1865.

Promoters opened banks banks to finance trading in Indian cotton. With large

exposure to speculative ventures, most of the banks opened in India during that

period failed. The depositors lost money and lost interest in keeping deposits with

banks. Subsequently, banking in India remained the exclusive domain of

Europeans for next several decades until the beginning of the 20th century. Around

the turn of the 20th Century, the Indian economy was passing through a relative

period of stability. Around five decades had elapsed since the Indian Mutiny, andthe social, industrial and other infrastructure had improved. Indians had established

a small banks, most of which served particular ethnic and religious communities

By the 1900s, the market expanded with the establishment of banks such as Punjab

National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of

which were founded under private ownership. Punjab National Bank is the first

Swadeshi Bank founded by the leaders like Lala Lajpat Rai, Sardar Dyal Singh

Majithia. The Swadeshi movement in particular inspired local businessmen and

political figures to found banks of and for the Indian community. A number of

banks established then have survived to the present such as Bank of India,

Corporation Bank, Indian Bank, Bank of Baroda, Canara Bankand Central Bank

of India
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Current situation

Currently (2007), banking in India is generally fairly mature in terms of supply,

product range and reach-even though reach in rural India still remains a challenge

for the private sector and foreign banks. In terms of quality of assets and capitaladequacy, Indian banks are considered to have clean, strong and transparent

balance sheets relative to other banks in comparable economies in its region. The

Reserve Bank of India is an autonomous body, with minimal pressure from the

government

With the growth in the Indian economy expected to be strong for quite some time-

especially in its services sector-the demand for banking services, especially retail

banking, mortgages and investment services are expected to be strong.

Currently,

India has 88 scheduled commercial banks (SCBs)

27 public sector banks,

29 private banks

Commercial Bank

Allahabad Bank, which began operations in 1865, now has its head-quarters inKolkata.Currently the bank has 2165 branches[1] across the country. The Chairman and ManagingDirector of the bank is K R Kamath.

History

On April 24, 1865, a group of Europeans founded the bank at Allahabad, making it theoldest Joint Stock bank in India.

In 1920, P&O Bankbought Allahabad Bank. In 1923 the bank moved its headquarters to Calcutta. In 1927, Chartered Bank of India, Australia and Chinaacquired and amalgamated P&O

Bank. However, Chartered Bank continued to operate Allahabad Bank as a separateentity.

In June, 2006, the bank opened a representative office at Shenzen, China, its first officeoutside India.

In February, 2007, Allahabad Bank opened its first overseas branch, in Hong Kong.
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Andhra Bankis the pioneer in introducing Credit Cards in India during the early eighties.

The bank is No 1 in Asia for "return on capital" and has moved up the world ranking by 277notches to reach 683rd global ranking". This is as per information by The Bankerof London, amember of the Financial Times Group of Business Publications, of July and August 2005.

It has 130,000 shareholders, 13.72 million customers and 13,922 employees spread across thelength and breadth of the country (India).

Services

AB KISAN VIKAS CARD e-bikeATM Mobile

CMS (cash mag. systems)

Western Union Money Transfer

DMAT

Bank of Baroda (BSE: 532134) is the sixth largest bank in India. It has total assets in excess ofRs. 1.78 lakhcrores, or Rs. 1,780 bn., a network of over 2800 branches and offices, and about1000+ ATMs. Bank of Baroda offers a wide range of banking products and financial services tocorporate and retail customers through a variety of delivery channels and through its specialisedsubsidiaries and affiliates in the areas of investment banking, credit cards and asset management.

Maharajah of Baroda SirSayajirao Gaekwad III founded the bank on July 20, 1908 in theprincely stateofBaroda, in Gujarat. The bank, along with 13 other major commercial banks ofIndia, was nationalised on 19 July1969, by the Government of India.

Industry

Banking,Appraisal &Merchant BankingCapital Markets and allied industries

Products Loans,Credit Cards, Savings,

Investment vehicles etc.Appraisal &Merchant Banking

o Appraisal
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THE NORMS SET BY THE STATE BANK OF INDIA FOR THE DISCHARGE OF ITSFUNCTIONS.

The Bank functions with the following core values / norms

Excellence in customer service

Profit orientation

Fairness in all dealing and relations

Risk taking and innovation

Integrity

Transparency and discipline in policies and systems

Regarding the core functions of the Bank i.e. accepting deposits and sanction of loans,the

interest rates for deposits / advances and different deposit as well as loan products, aredisplayed in the Banks website and also made available at all the Branches.

Regarding sanction of loans, each officer of the Bank will consider loan proposals and take adecision in terms of the scheme of delegation of powers, on the merits of the proposals. Allthe officers of the Bank are expected to discharge their duties and responsibilities with

integrity and due diligence.

Public can also refer to the captions ''Interest rates', 'code of ethics' & 'citizenscharter' of the Bank's website for any further information. They can also refer to the

following captions of the Bank's website, for detailed information on related products.

i)Personal Banking

ii)Agricultural / Rural

iii)NRI Services

iv)International

v) Corporate Banking

vi) Services

vii) Government Agencies

viii) SME

The rules and regulations, instructions, manuals and records held by the Bank/

used by its employees for discharging its functions

There are quite a number of documents like manuals, book of instructions, codified

circulars, scheme of delegation of powers, proceedings of the board etc and also theperiodical circulars used by the employees for discharging various functions.
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Listed on the left are Services, SBI offers to its customers.

DOMESTIC TREASURY

SBI VISHWA YATRA FOREIGN TRAVEL CARD

BROKING SERVICES

REVISED SERVICE CHARGES

ATM SERVICES INTERNET BANKING

E-PAY

E-RAIL

RBIEFT

SAFE DEPOSIT LOCKER

GIFT CHEQUES

MICR CODESFOREIGN INWARD REMITTANCES

Bank of India (BoI), established on 7 September1906is a bank with headquarters in Mumbai.

Government-owned since nationalization in 1969, It is one ofIndia's leadingbanks, with about2,884 branches including 27 branches outside India. BoI is a founder member ofSWIFT (Societyfor World-wide Inter Bank Financial Telecommunications) in India which facilitates provision ofcost-effective financial processing and communication services. The Bank completed its first onehundred years of operations on 7th September, 2006.

MISSION: "To provide superior, proactive banking services to niche markets globally, whileproviding cost-effective, responsive services to others in our role as a development bank, and inso doing, meet the requirements of our stakeholders".

VISION: "To become the bank of choice for corporate, medium businesses and upmarket retail

customers and to provide cost effective developmental banking for small business, mass marketand rural markets"

Online Services

::Internet Banking::Pay Bills::Book Ticket::Tax Payment::Online Trading in Shares::Star e-Remit::Internet Banking

History

Previous banks that used the name Bank of India

At least three banks having the name Bank of India had preceded the setting up of the presentBank of India.
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1. A person named Ramakishen Dutt set up the first Bank of India in Calcutta(now Kolkata) in 1828, but nothing more is known about this bank.

2. The second Bank of India was incorporated in London in the year 1836 as anAnglo-Indian bank.

3. The third bank named Bank of India was registered in Bombay(now Mumbai)in the year 1864.

4. 1906: Founded with Head Office in Mumbai.5. 1921: BoI entered into an agreement with theBombay Stock Exchange to manage its

clearing house.

The earlier holders of the Bank of India name had failed and were no longer in existenceby the time a diverse group of Hindus, Muslims, Parsis, and Jews helped establish thepresent Bank of India in 1906. It was the first bank in India promoted by Indian intereststo serve all the communities of India. At the time, banks in India were either owned byEuropeans and served mainly the interests of the European merchant houses, or by

different communities and served the banking needs of their own community.

The promoters incorporated the Bank of India on 7 September, 1906 under Act VI of1882 with an authorized capital of Rs. 1 crore divided into 100,000 shares each of Rs.100. The promoters placed 55,000 shares privately, and issued 45,000 to the public byway of IPO on 3rd October, 1906; the bank commenced operations on 1st November,1906.

The lead promoter of the Bank of India was SirSassoon J. David(1849-1926). He was amember of the community ofBaghdadi Jews, which was notable for its history of socialservice and included the Sassoons. He was a prudent banker, and remained the Chief

Executive of the bank from its founding in 1906 until his death in 1926.

The first board of directors of the bank consisted of Sir Sassoon David, Sir CowasjeeJehangir, J. Cowasjee Jehangir, Sir Frederick Leigh Croft, Ratanjee Dadabhoy Tata,Gordhandas Khattau, Lalubhai Samaldas, Khetsety Khiasey, Ramnarain Hurnundrai,Jenarrayen Hindoomull Dani, Noordin Ebrahim Noordin.

2005: BoI opened a representative office in Vietnam. 2006: BoI plans to upgrade the Shenzen and Vietnam representative offices to branches,

and to open representative offices in Beijing,Doha, and Johannesburg. In addition, BoIplans to establish a branch in Antwerp and a subsidiary in Dar-es-Salaam, marking itsreturn to Tanzania after 37 years.

2007: BoI acquired 76 percent of Indonesia-based PT Bank Swadesi.

2007- :T.S.Narayanasami
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Bank of Maharashtra (BoM), incorporated on 16th September1935as apublic limitedcompany, is a public sector commercial bank ofIndia. Although the bank maintains a presencethroughout India, most of its 1322 branches are located in the westernpart of the country. TheGovernment of India had nationalized the bank on19th July1969 along with thirteen othermajor banks of India.

[edit] History

Canara Bank, established in 1906 as Canara Bank Hindu Permanent Fund[1] inMangalore,India, by Ammembal Subba Rao Pai, is one of the oldest and majorcommercial banks ofIndia.Its name was changed to Canara Bank Limited in1910. The bank, along with 13 other majorcommercial banks of India, was nationalised on 19th July,1969, by the Government of India. In1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue.

Branches

As of2008, the bank has a network of 2641 branches, spread across India and other countries. Itshead office is located inBangalore, India. The bank also has international presence in severalcenters, including London, Hong Kong, Moscow,Shanghai, Doha, andDubai. In terms ofbusiness it is one of the largest nationalized commercial banks in India, with a total business ofabout Rs.2 trillion.

[edit] Founding Principles

To remove superstition and ignorance. To spread education among all to sub-serve the first principle. To inculcate the habit of thrift and savings. To transform the financial institution not only as the financial heart of the community but

the social heart as well. To assist the needy. To work with sense of service and dedication. To develop a concern for fellow human being and sensitivity to the surroundings with a

view to make changes/remove hardships and sufferings.

Canara Bank was ranked at 1299 in the Forbes Global 2000 list

Development projectsCanara bank made a partnership with UNEP to initiate a successfulsolar loan programme. It wasa four-year $7.6 million effort, launched in April 2003 to help accelerate the market for financingsolar home systems in southern India.
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Central Bank of India is one of the oldest and largest commercial banks in India. It wasestablished in 1911 by Sir Sorabji Pochkhanawala[1] and was the first commercial Indian bankcompletely owned by Indians. The bank, with 13 others, was nationalized by the IndianGovernment on 19th July,1969.[1] The bank currently has 3,168 branches and 270 extensioncounters across 27 Indian states.

The present Chairperson and Managing Director, Ms. Homi. A. Daruwala, has initiated steps tobring this bank to a par with private-sector banks. She has taken decisions regardingcomputerisation, ATM services and core banking. The bank is planning to introduce corebanking solutions (CBS) in 1,000 branches.

Corporation Bank, founded in 1906 in Udupi,Karnatakastate, India, is one of the Indian banksin Public Sector Undertaking. The bank was founded with an initial capital of Rs. 5000 (USD100), and first days canvassed resources of less than one USD 1, has currently (31 March2004)11,325 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 ShareCapital is presently held by the Public and Financial Institutions. The Banks Net Worth stood atRs.3,054.92 crores as on 31 March2005.

ProductsLoans,Credit Cards,Savings, Investmentvehicles, etc.

History

Corporation Bank, the oldest banking institution in the erstwhile undivided Dakshina KannadaDistrict ofKarnatakaand one of the oldest banks in India, was founded in 1906 in the TempleTown ofUdupi, by a small group of philanthropists led by Khan Bahadur Haji Abdulla HajiKasim Saheb Bahadur. The need to start this bank was felt because there was no such facility atUdupi, an important trading centre next to Mangalorein D.K. District. The indigenous bankingwas largely in the hands of a few rich private individuals and something had to be done toprovide relief to the common man from the clutches of the money lenders who held full sway.

The first branch of a modern bank established in the district was the Bank of Madras, one of thethree Presidency Banks, which set up its office in Mangalore in 1868 largely to cater to thebusiness needs of a few British firms dealing in export ofplantation products. Its agent used tovisit Udupi once a fortnight or so, to do banking. Money remittances had to be made onlythroughpostal medium.

To overcome these drawbacks and also to provide banking facilities for Udupi in

particular and the district in general, a cosmopolitan group ofphilanthropists led by
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Haji Abdulla Saheb made a bold venture to start this institution. What inspired the

founding fathers was the fervour ofSwadeshism

The second change in the name of the Bank occurred in 1972, from Canara

Banking Corporation Ltd'. to Corporation Bank Limited.' The Bank was nationalised

in 1980 along with 5 other private sector banks. After nationalisation, the pace ofgrowth of the Bank accelerated and it made all-round progress. Started as a

common man's bank, it changed with the times to meet the aspirations of the

people but never swerved from its motto- "Sarve Janah Sukhino Bhavantu" meaning

Prosperity for All

Completes a 100yrs of banking

Corporation Bank completed 100 years of existence on 12 March2006. The Centenarycelebrations were launched by Shri V. Leeladhar, DeputyGovernor,Reserve Bank of Indiawiththe Bank's Foundation Day lecture on 12 March2005.

As a part of the Bank's centenary celebrations, a number of programmes and projects wereplanned and executed. As a first step, the Bank has launched the Corp Kissan Card - debit cardtied up with VISA international,, to enable the farmers make timely purchases for agriculturaloperations.at Yeshwantpur-Malur in KolarDistrict on 13 March2005.

Corporation Bank - A Corporate Journey , the history of the Bank and Haji Abdullah

Saheb a biography of the Bank's Founder President have been published on the

occasion of the valedictory function of the Bank's Centenary Celebrations

Indian Bank, established in 1907, is a major Indian commercial bank

headquartered in Chennai (Madras), India. It has 22,000 employees and 1,543branches and is one of the big public sector banks of India. It has overseas branches

in Colombo, Sri Lanka and Singapore, and 229 correspondent banks in 69 countries.

The Government of India nationalized the bank, along with 13 other major

commercial banks, on 19 July1969.

History

1907: Established on 15 August as part of the Swadeshi movement (Freedom

Movement in India).[1] Though not a Chettiar bank, some of the founders were

Chettiars. The key figure was V. Krishnaswamy Iyer, a lawyer in Madras, who had

made a name for himself defending claimants on Arbuthnot & Co, which had failed

the previous year. In its early international expansion, IB would open branches in

cities with important Chettiar populations.

1932: Indian Bank opened a branch in Colombo. 1935: IB opened a branch in Jaffna. 1939: IB closed the Jaffna branch. 1940: IB opened a branch in Rangoon (Yangon).
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1980: IB, Bank of Baroda, and Union Bank of India established IUB InternationalFinance, a licensed deposit taker in Hong Kong. Each of the three banks took an equalshare in the joint venture.

1987: IB acquired Bank ofTanjore(Bank ofThanjavur) in Tamil Nadu in a rescue. 1998: Bank of Baroda bought out its partners in IUB Intl. Fin. in Hong Kong. Apparently

this was a response to regulatory changes following Hong Kongs reversion. IUB becameBank of Baroda (Hong Kong), a restricted license bank. 2007: IB celebrates its centenary year. Indian Overseas Bank(IOB; established 1937) is a major bank based inChennai

(Madras), with 1,400 domestic branches and six branches overseas. Indian OverseasBank has an ISO certified inhouse Information Technology department, which hasdeveloped the software that 900 branches use to provide online banking to customers; thebank has a target to expand online banking to 1200 branches by the end of financial year2007-08. IOB also has a network of about 500 ATMs all over India and IOB'sInternational VISA Debit Card is accepted at all ATMs belonging to the Cash Tree andNFS networks. IOB offers internet Banking (E-See Banking) and is one of the banks that

the Govt. of India has approved for online payment of taxes.

ProductsLoans,Credit Cards,Savings, Investmentvehicles etc

[edit] History

1937: Shri.M.Ct.M. Chidambaram Chettyar establishes the Indian Overseas Bank

(IOB) to encourage overseas banking and foreign exchange operations. IOB started

up simultaneously at three branches, one each in Karaikudi, Madras (Chennai) and

Rangoon (Yangon). It then quickly opened a branch in Penang and another in

Singapore. The bank served the Nattukottai Chettiars, who were a mercantile classthat at the time had spread from Chettinad in Tamil Nadu state to Ceylon (Sri

Lanka), Burma (Myanmar), Malaya, Singapore, Java, Sumatra, and Saigon. As a

result, from the beginning IOB specialized in foreign exchange and overseas

banking

1988-89: IOB acquired Bank of Tamil Nadu in a rescue. 2000: IOB engaged in an initial public offering(IPO) that brought the government's share

in the bank's equity down to 75%

[edit] International expansion

1937-38: As mentioned above, IOB was international from its inception with branches inRangoon, Penang, and Singapore.

1941: IOB opened a branch in Malaya that presumably closed almost immediatelybecause of the war.

1946: IOB opened a branch in Ceylon. 1947: IOB opened a branch in Bangkok and re-opened others.
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1999: Bank of Commerce (BOC) merged with Bank Bumiputra Malaysia to formBumiputra-Commerce Bank(BCB) Berhad.

2005: BCB integrates with CIMB which the company is own by the Datuk Seri NazirRazak who is the youngest son of Malaysia's second (former) Prime Minister Tun AbdulRazak from 1970 - 1976 and youngest brother of today's (2005) deputy prime minister

Dato Seri Najib Tun Razak. 2007: IOB takes overBharat Overseas Bank. Punjab & Sind Bankis a major bank in NorthernIndia. Of its almost 900 branches and

offices spread throughout India, almost 400 are in Punjab state, though the bank'scorporate headquarters is inNew Delhi.

[edit] History In 1908, leading figures such as Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar

Tarlochan Singh founded Punjab & Sind Bank to help the weaker section of the societyin their economic endeavours to raise their standard of life.

Punjab and Sind bank was the one of the few banks in northern India who has honoredthe obligations of the migrating people from Pakistan. In spite of the fact that all its major

branches were left in Pakistan and only a few branches were in India after partition. In 1980 Punjab & Sind Bank was among six banks that the Government of India

nationalized in the second wave of nationalizations. (The first wave had been in 1969when the government nationalized the top 14 banks.)

At some point in the 1970s Punjab & Sind Bank established a branch in London. In 1991Bank of Baroda acquired Punjab & Sind Bank's London branch.

Punjab National Bank(PNB), was registered on May 19, 1894 under the IndianCompanies Act with its office in Anarkali BazaarLahore. The Bank, founded by Dyal

Singh Majithia and Lala Harkishen Lal,[1] is the second largest government-ownedcommercial bankin India with about 4,500 branches across 764 cities. It serves over 37million customers. The bank has been ranked 248th biggest bank in the world by BankersAlmanac, London. Total Business of the bank for financial year 2007 is estimated to beapproximately US$60 billion. It has a banking subsidiary in the UK, as well as branchesin Hong Kong and Kabul, and representative offices in Almaty, Shanghai, and Dubai.

History

Punjab National Bank (PNB) was established in 1895 at Lahore. PNB has the distinction ofbeing the first Indian bank to have been started solely with Indian capital. In 1969, PunjabNational Bank was nationalized along with 13 other banks.

1895: PNB established in Lahore. 1904: PNB established branches in Karachi and Peshawar. 1939: PNB acquired Bhagwandas Bank. 1947: Partition of India and Pakistan at Independence. PNB lost its premises in Lahore,

but continued to operate in Pakistan.
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1961: PNB acquired Universal Bank of India 2003: PNB took over Nedungadi Bank, the oldest private sector bank in Kerala.Rao

BahadurT.M. Appu Nedungadi, author ofKundalatha, one of the earliest novels inMalayalam, had established the bank in 1899. It was incorporated in 1913, and in 1965had acquired selected assets and deposits of the Coimbatore National Bank. At the time

of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that itsshareholders received no payment for their shares. PNB also opnened a representativeoffice in London.

2004: PNB established a branch in Kabul, Afghanistan. PNB also opened a representativeoffice in Shanghai.

2005: PNB opened a representative office in Dubai. 2007: PNB established PNBIL - Punjab National Bank (International) - in the UK, with

two offices, one in London, and one in South Hall, Middlesex. 2008: PNB opened a branch in Hong Kong

Punjab National Bank was ranked at 1243 in the Forbes Global 2000

ProductsLoans,Credit Cards, Savings, Investmentvehicles, Insurance etc.

Locker FacilitiesLocker Operational GuidelinesLocker Operational GuidelinesGovernment Deposit SchemesGovernment Deposit Schemes

Wealth Management&nsbp;SchemeWealth Management&nsbp;Scheme

History

Syndicate Bank, established in 1925 in Udupi (in Karnataka, India) by Upendra Ananth Pai,Vaman Srinivas Kudva and Dr. T. M. A. Pai, is one of the oldest and major commercial banks of

India. At the time of its establishment, the bank was known as Canara Industrial and BankingSyndicate Limited. The bank, along with 13 major commercial banks of India, was nationalizedon 19th July,1969, by the Government of India.

Products

Loans,Credit Cards, Savings, Investmentvehicles, Bajaj Allianz Life Insurance(Insurance) etc.
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[edit] Business

The business started with a capital of Rs. 8000. The first branch of the bank started its operationsin the year 1928 at Brahmavar in Dakshin Kannada District. By 1937, it had secured itsmembership as a clearing houseat Mumbai. The primary objective of the business was toextended financial assistance to local weavers. Initially, the bank collected as low as two annasfrom the door steps of the depositors daily through its agents. This type of system wherein theagents of the bank come doorsteps to collect deposit is still prevailing inIndiaand is referred toas the Pigmy Deposit Scheme

Mergers

As time progressed, twenty banks merged with the Canara Industrial and Banking SyndicateLimited including the Maharastra Apex Bank Limited and Southern India Apex Bank Limited.The name of the bank was changed to Syndicate Bank Limited in the year 1964 and the headoffice of the bank was shifted toManipal. The bank expanded its operations not only on thedomestic front but also overseas. It has a branch in London and the bank manages NationalExchange Co. in Doha and Musandam Exchange Co. in Muscat. By 1978, it opened its 1000thbranch at Hauz Khas,Delhi. Currently it has over 2125 branches out of which 1523 are offeringcorebanking-e-banking services under anywhere-anytime-anyhow banking.

Union Bank of India (UBI) is one of India's largest state-run banks and is also

listed on the Forbes 2000. It was inaugurated by Mahatma Gandhi. Starting

September 01, 2008, UBI has changed its corporate logo to identify itself differently

in changing times.

Chairman: Mavila Vishwanathan Nair (from 1 April 2006)

[edit] History

United Bank of India was established in 1950 through the merger of four Bengali banks,namely, Comilla Banking Corporation (founded by Narendra Chandra Datta in1914 in what isnow Bangladesh), Bengal Central Bank (founded by Sri J.C. Das in 1918), Comilla Union Bank(founded by Sri L.B. Dutta in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932).

UBI with its headquarter at Kolkata is predominantly seen in the eastern and north eastern partsof the country.

1961 UBI merged in Cuttack Bank and Tezpur Industrial Bank. 1969 On 19th July, the Government of Indianationalized UBI, along with 13 other major

Indian commercial banks. 1973 UBI acquired Hindusthan Mercantile Bank. 1976 UBI acquired Narang Bank of India
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United Bank of India (UBI) has a pride place in the economy of the eastern and north-eastern parts of

the country. The Bank which was formed out of the amalgamation of four small banks of Bengal in

December 1950 has a long chequered history. One of the constituents of the Banks- Comilla Banking

Corporation Ltd. was established as early as in 1914. Other three constituents- the Bengal Central

Bank Ltd, the Comilla Union Bank Ltd. and Hooghly Bank Ltd. were established in 1918, 1922 and

1932 respectively. Subsequently, Cuttack Bank Ltd. and Tezpur Industrial Bank Ltd. got merged with

UBI in the year 1961. Hindusthan Mercantile Bank Ltd. and Narang Bank of India Ltd. wereamalgamated with UBI in 1973 and 1976 respectively. Since inception the Bank is known for its

involvement with the economic growth and social development.

Today, the banks are to operate in a more de-regulated and liberalised environment for which stepsare initiated for improvement of financial strength, enhanced supervision and control and growth incompetitive efficiency. To face the challenges of the 21st century banking, UBI has devised schemesand developed products which are more customer friendly and technology oriented. At the same timeit has not lost sight of the importance of rural economy and more particularly the agriculture and alliedactivities as well as SME sector which are the prime source of occupation for our masses.

Uco Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is one

of the oldest and major commercial bank of India. Ghanshyam Das Birla, an eminent

Indian industrialist, during the Quit India movement of 1942, had conceived the idea

of organizing a commercial bank with Indian capital and management, and the

United Commercial Bank Limited was incorporated to give shape to that idea. The

bank, along with 13 other major commercial banks of India, was nationalized on

19th July, 1969, by the Government of India. Its name was changed to UCO Bank, in

1985, by an act of Indian Parliament. Currently (2005), the bank has 2000 Service

Units spread all over India, with two overseas branches in Singapore and Hong

Kong.

History

Vijaya Bank, a medium sized bank with presence across India was founded on 23rd October1931[1]by the late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka inIndia.. The objective of the founders was essentially to promote banking habits, thrift andentrepreneurship among the farming community ofDakshina Kannada district in KarnatakaState. The bank became a scheduled bankin 1958.

[edit] Growth & Nationalisation

Vijaya Bank grew steadily by merging nine smaller banks into it between 1963-68. ShriM.Sunder Ram Shetty, who was then the Chief Executiveof the bank is largely credited withthese mergers. The bank was nationalised on 15 April1980.

[edit] Branches
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As of2008, the bank has a network of 1053 branches, 47 extension counters, 296 ATMs. Itshead office is located inBangalore, India.

Vijaya Bank, was founded on 23rd October 1931 by late Shri A.B.Shetty and other

enterprising farmers in Mangalore, Karnataka. The objective of the founders was essentially

to promote banking habit, thrift and enterpreneurship among the farming community of

Dakshina Kannada district in Karnataka State. The bank became a scheduled bank in 1958.

Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with

it during the 1963-68. The credit for this merger as well as growth goes to late Shri

M.Sunder Ram Shetty, who was then the Chief Executive of the bank. The bank was

nationalised on 15th April 1980. The bank has built a network of 1053 branches,47

Extention Counters and 296 ATMs as at 13.06.2008, that span all 28 states and 4 union

territories in the country.

Each branch provides effective and efficient services and significantly contributes to the

growth of the individual, and the nation.

Overview

Vijaya Bank has the highest number of branches in its home state Karnataka.

During the financial year 2007-2008 the bank has opened 73 Branches of which 5 extension

counters were upgraded .

In line with the prevailing trends, the bank has been giving greater thrust towards

technological upgradation of its operations.The bank has network of 1053 branches, 47

Extention Counters and 296 ATMs. [ As at 13.06.2008]

750 branches,38 extention counters, 11 service branches are functioning on CBS platform,

and at 368 centers, covering 93.30 % of Bank's business.

Realising your constantly evolving and diverse needs, the bank has diversified too. Entering

several new areas such as credit card, merchant banking, hire purchase and leasing, and

electronic remittance services.
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747 - Branches /offices are under RTGS and 746 - Branches / offices are under NEFT

Vijaya Bank is one among the few banks in the country to take up principal membership of

VISA International and MasterCard International.

The Industrial Development Bank of India Limited commonly known by its acronym IDBI isone ofIndia's leading public sector banks and 4th largest Bank in overall ratings. RBIcategorised IDBI as "other public sector bank".It was established in 1964 by an Act ofParliament to provide credit and other facilities for the development of the fledgling Indianindustry. It is currently the tenth largest development bank in the world. Some of the institutionsbuilt by IDBI are TheNational Stock Exchange of India (NSE), TheNational SecuritiesDepository Services Ltd. (NSDL) and the Stock Holding Corporation of India(SHCIL)

Recent developments

To meet emerging challenges and to keep up with reforms in financial sector, IDBI has takensteps to reshape its role from a development finance institution to a commercial institution. WiththeIndustrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attainedthe status of a limited company viz. "Industrial Development Bank of India Limited" (IDBIL).Subsequently, the Central Government notified October 1,2004 as the 'Appointed Date' and RBIissued the requisite notification on September 30,2004 incorporating IDBI Ltd. as a 'scheduledbank' under theRBI Act, 1934. Consequently, IDBI, the erstwhile Development FinancialInstitution of the country, formally entered the portals of banking business as IDBIL fromOctober 1, 2004, over and above the business currently being transacted.

As of July, 2006 the employees association of the IFCI have sought its merger with the idbi

Overview of development banking in India

The concept of development banking rose only after Second World War, successive

of the Great Depression in 1930s. The demand for reconstruction funds for the

affected nations compelled in setting up a worldwide institution for reconstructions.

As a result the IBRD was set up in 1945 as a worldwide institution for development

and reconstruction. This concept has been widened all over the world and resulted

in setting up of large number of banks around the world which coordinating the

developmental activities of different nations with different objectives among the

world. The Narashimam committee had recommended to give up its direct financingfunctions and to perform only the promotional and refinancing role. However it is

the S.H.Khan committee appointed by RBI has reconted to transform the DFI

(development finance institution) into universal bankings institutions.

The financial institutions in India were set up under the strong control of both central and stateGovernments, and the Government utilized these institutions for the achievements in planning
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and development of the nation as a whole. The all India financial institutions can be classifiedunder four heads according to their economic importance that are:

All-India Development Banks Specialized Financial Institutions

Investment Institutions State-level institutions Other institutions

Industrial Development Bank of India (IDBI)

The Industrial Development Bank of India (IDBI) was established on July 1, 1964 under an Actof Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16th February 1976,the ownership of IDBI was transferred to the Government of India and it was made the principalfinancial institution for coordinating the activities of institutions engaged in financing, promotingand developing industry in the country. Although Government shareholding in the Bank came

down below 100% following IDBIs public issue in July 1995, the former continues to be themajor shareholder (current shareholding: 52.3%). During the four decades of its existence, IDBIhas been instrumental not only in establishing a well-developed, diversified and efficientindustrial and institutional structure but also adding a qualitative dimension to the process ofindustrial development in the country. IDBI has played a pioneering role in fulfilling its missionof promoting industrial growth through financing of medium and long-term projects, inconsonance with national plans and priorities. Over the years, IDBI has enlarged its basket ofproducts and services, covering almost the entire spectrum of industrial activities, includingmanufacturing and services. IDBI provides financial assistance, both in rupee and foreigncurrencies, for green-field projects as also for expansion, modernisation and diversificationpurposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI

evolved an array of fund and fee-based services with a view to providing an integrated solutionto meet the entire demand of financial and corporate advisory requirements of its clients. IDBIalso provides indirect financial assistance by way of refinancing of loans extended by State-levelfinancial institutions and banks and by way of rediscounting of bills of exchange arising out ofsale of indigenous machinery on deferred payment terms.

OnJuly 29, 2004, the Board of Directors of IDBI and IDBI Bank accorded in principle

approval to the merger of IDBI Bank with the Industrial Development Bank of India

Ltd. to be formed incorporated under the Companies Act, 1956 pursuant to the IDB

(Transfer of Undertaking and Repeal) Act, 2003 (53 of 2003), subject to the

approval of shareholders and other regulatory and statutory approvals. A mutually

gainful proposition with positive implications for all stakeholders and clients, themerger process is expected to be completed during the current financial year

ending March 31, 2005.

IDBI upholds the highest standards of corporate governance in its operations. The responsibilityfor maintaining these high standards of governance lies with its Board of Directors. TwoCommittees of the Board viz. the Executive Committee and the Audit Committee are adequately
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empowered to monitor implementation of good corporate governance practices and makingnecessary disclosures within the framework of legal provisions and banking conventions.

Foreign bank

ABN AMRO is a Dutch Bank, currently owned by a consortium ofRoyal Bank of ScotlandGroup, Fortis, and Banco Santander. The bank is the result of the 1990-91 merger ofAmsterdam-Rotterdam (AMRO) Bank and ABN, whose history dated back to the founding oftheNederlandsche Handel-Maatschappijin 1824.

Between 1991 and 2007, ABN AMRO was one of the largestbanksinEuropeand hadoperations in about 63 countries around the world. In 2007 the bank was acquired by theconsortium,[1] which is splitting up the bank between the three aquiring banks. This process will

take till the end of 2009. The Americanretail assets were sold by ABN AMRO to Bank ofAmericain the months leading up to the acquisition.

2007 acquisition of ABN AMRO

ABN AMRO had come to a crossroads in the beginning of 2007. The bank had still

not come close to its own target of having an ROE that would put it among the top 5

of its peer group, a target that the then-just-appointed CEO, Rijkman Groenink, had

set in 2000. From 2000 until 2006, ABN AMRO's stock price had stagnated

There had been some calls, over the prior couple of years, for ABN AMRO to break

up, to merge, or to be acquired. On February 21, 2007, these calls became very

concrete, when theTCIhedge fund asked the Chairman of the Supervisory Board to

actively investigate a merger, acquisition or breakup of ABN AMRO, stating that the

current stock price didn't reflect the true value of the underlying assets. TCI asked

the chairman to put their request on the agenda of the annual shareholders'

meeting of April 2007.

Barclays PLC is a major global financial services provider operating in Europe, the UnitedStates, the Middle East,Latin America,Australia,AsiaandAfrica. It is a holding company thatis listed inLondon,New YorkandTokyo. It operates through its subsidiary Barclays BankPLC.

Barclays PLC is ranked as the 18th largest company in the world according to Forbes Global2000 (2007 list) and the fourth largest financial services provider in the world according to Tier 1capital ($32.5 billion). It is the third largest bank in the United Kingdombased on marketcapitalisation.[1]

The bank's headquarters are atOne Churchill Place in Canary Wharf, in London's Docklands,having moved there in May 2005 from Lombard Street in the City of London.
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[edit] History

Thisbanktraces its roots back to 1690 inLondon. The name "Barclays" became associated withthe business in 1736, when James Barclay, son-in-law of one of the founders, became a partnerin the business. [2] In 1728, the bank moved to 54 Lombard Street, which was identified by the

'Sign of the BlackSpread Eagle', over the years becoming a core part of the bank's identity

Organisational structure

Barclays is headed by Marcus Agius, the Group Chairman, who joined the Board on 1September2006and succeeded Matthew Barrett as Chairman from1 January2007. Agius is alsothe senior executive Director of the BBC and was formerly Chairman of BAA PLC, Chairman ofLazard in London and a Deputy Chairman of Lazard LLC until 31 December2006.

Reporting directly to the Group Chairman is John Varley, the Group Chief Executive, who is

responsible for the strategic direction and planning of all Barclays operations. Varley wasappointed to the role in September 2004 prior to which he served as Deputy Chief Executive(January-September 2004) and Group Finance Director (2000-2003).

The operating units of Barclays are grouped under two umbrellas; Investment Banking andInvestment Management (IB&IM) and Global Retail and Commercial Banking (GRCB). IB&IMoversees three core operating units: Barclays Capital, Barclays Global Investors (BGI) andBarclays Wealth Management.

GRCB oversees multiple operating units. Principally it has responsibility for UK Retail Banking(UKRB), Barclays Commercial Bank (formally UK Business Banking), Barclaycard and

International Retail and Commercial Banking (IR&CB).

[edit] Constituents of the Barclays Group

Barclays Bank PLC Mercers Debt Collection Agency Barclays Bank Delaware (formerly Barclaycard US, originally Juniper Bank, acquired

2003) Barclays Retail Bank UK clearing bank Barclays Commercial Bank Dealing with medium and larger corporate UK

business.UK banks

[edit] Branches

Barclays has over 1800 UK high street branches (including former Woolwich branches) and ithas also joined up with the Post Office Ltdto provide personal banking services to customerswho live near a Post Office branch and those who need financial services such as secured orunsecured loans.
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