Government Banks | Banks India 2013, Page 3

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Indian Overseas Bank (IOB)

Established in 1937, Indian Overseas Bank (IOB) is a leading bank based in Chennai, India. IOB had the distinction of simultaneously commencing operations in three branches at Karaikudi, Chennai, and Yangon (Myanmar). Since IOB aimed to encourage overseas banking and foreign exchange operations, it soon opened its branches in Penang and Singapore. Today, Indian Overseas Bank boasts of a vast domain in banking sector with over 1400 domestic branches and 6 branches overseas.

IOB was the first bank to venture into consumer credit, as it introduced the popular Personal Loan scheme. In 1964, the Bank started computerization in the areas of inter-branch reconciliation and provident fund accounts. Indian Overseas Bank was one of the 14 major banks which were nationalized in 1969. After nationalization, the Bank emphasized on opening its branches in rural parts of India. In 1979, IOB opened a Foreign Currency Banking Unit in the free trade zone in Colombo.

In the year 2000, Indian Overseas Band undertook an initial public offering (IPO) that brought the government’s share in the bank’s equity down to 75%. The equity shares of IOB are listed in the Madras Stock Exchange (Regional), Bombay Stock Exchange, and National Stock Exchange of India Ltd., Mumbai. Since its inception, IOB has absorbed various banks including the latest — Bharat Overseas Bank — in 2007.

The Bank’s IT department has developed software, which is used by its 1200 branches to provide online banking to customers. Indian Overseas Bank also has a network of about 500 ATMs throughout India. Its International VISA Debit Card is accepted at all ATMs belonging to the Cash Tree and NFS networks. IOB also offers Internet Banking; it’s one of the banks that the Govt. of India has approved for online payment of taxes.

Indian Overseas Bank offers investment options like Mutual Funds and Shares. It provides a wide range of consumer and commercial banking services, including Savings Account, Current Account, Depositary Services, VISA Cards, Credit Cards, Debit Cards, Online Banking, Any Branch Banking, Home Loans, NRI Account, Agricultural Loans, Payment of Bills / Taxes, Provident Fund Scheme, Forex Collection Services, Retail Loans, etc.

Head Office
Indian Overseas Bank
763, Anna Salai
Chennai – 600002
URL: www.iob.com

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Indian Bank

Indian Bank is one of the indigenous banks of India that emerged as a result of the Swadeshi Movement during the British Raj. The bank was established on 15th of August, 1907. One of the prime figures associated with the establishment of the bank was V. Krishnaswamy Iyer, a lawyer from Madras (Now Chennai). The bank soon spread its wings outside India too, and opened its branch in Colombo, Sri Lanka in the year 1932 and Rangoon, Burma in 1940. The bank was further nationalized by the Government of India in the year 1969.

Global Presence
The modest beginning made by the Indian Bank has come a long way since then, with 1642 branches located nationwide within India and Overseas branches in Singapore and Colombo as of April 2009. The bank also has 40 Overseas Correspondent banks in 70 countries, giving a strong presence internationally. A 22,000 strong workforce of dedicated employees takes pride in serving the Indian Bank.

Banking Activities
Indian Bank offers a wide variety of Banking Products and Services to its customers, including various Deposit Schemes, Loan Options, Financial Services, Stock Investment Services and a number of specialized services such as Remittance, Collection, 7 Day Banking Branches, Cash Management and Electronic Funds Transfer. As of April 2009, the bank has Core Banking Solution (CBS) implemented in its 1642 branches and 66 extension counters. The bank has 755 connected Automatic Teller Machines (ATMs) installed in 225 locations nationwide.

Subsidiary Companies
Apart from its Regular Banking Services, the Indian Bank has also been offering various other services through its 3 subsidiary companies, which are Indbank Merchant Banking Services Ltd., IndBank Housing Ltd. and IndFund Management Ltd.

Rural Banking
Indian Bank has been a leader in bringing new initiatives for development of rural banking and extending help to the farmers of India. The bank has received award from Honorable Union Minister of Finance for Excellence in Agricultural Lending. Apart from it, the bank also received the Best Performer Award for Micro-Finance activities in Tamil Nadu and Union Territory of Puducherry from National Bank for Agriculture and Rural Development (NABARD).

Head Office
Indian Bank,
PB No.1384, 66, Rajaji Salai, Chennai 600 001, Tamil Nadu
Website: http://www.indianbank.in

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Dena Bank

Dena Bank is an Indian commercial bank based in Mumbai. The bank was founded by the Devkaran Nanjee family on the 26th of May, 1938. At the time of establishment, its name was Devkaran Nanjee Banking Company Ltd. Further, the banking company was incorporated as a Public Ltd. Company in December 1939, changing its name to Dena Bank Ltd. The bank was nationalized by the Government of India along with 13 other commercial banks in the year 1969.

Key Attributes
Dena Bank was one of the six Public Sector Banks which had been chosen by the World Bank in the year 1995 for granting a loan of Rs. 72.3 Crores under Financial Sector Development project. Also, it is one of the few banks which have been given a loan by the World Bank for technological advancement and training. Dena Bank has maintained a strong technological infrastructure with state-of-the-art IT innovations and solutions implemented at its branches and back-end.

100% branches of the bank have been fully computerized, and the bank has established its own network called “DENANET” to ensure seamless connectivity and smooth workflow all the way through its banking process. DENANET is comprised of VSATs, leased lines, dial-up lines and ISDN backups, and is completely integrated with the Indian Financial Network (INFINET) of the Reserve Bank of India (RBI).

Regular Banking Services
Dena Bank offers a host of Regular Banking Services to its customers, including Personal Baking Services comprising of Deposit, Loan and Investment Services, Priority and Small & Medium Enterprises (SME) services, International Baking Services, Corporate Banking Services and a host of other Value Added Services.

Network Based Services
Leveraging the potential of its own advanced high-speed Information Network DENANET, Dena Bank offers a host of network based services to its customers in addition to the Regular Banking Services. These services include Data Transfer, Remote Support, Real Time Gross Settlement (RTGS), Dena BillPay, Dena m-banking, Any Branch Banking, Multi-City Cheque Facility, Internet Banking and Dena e-Tax Pay.

Head Office
Dena Bank,
Dena Corporate Centre
C-10, G Block,
Bandra-Kurla Complex
Bandra [E].
Mumbai- 400 051
Website: http://www.denabank.com

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Corporation Bank

Corporation Bank is an Indian bank based in Mangalore, Karnataka. The bank was founded in the year 1906 at a town named Udupi in Karnataka with an investment of just Rs. 5000. A group of enthusiasts including Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur were the founders of the bank. Interestingly, Udupi was not much far from Mangalore, and the banking needs of the people were being solely controlled by some local rich individuals. Hence, to find a way out of the existing monopoly of the money lenders, Corporation Bank was established with the initial name ‘The Canara Banking Corporation (Udupi) Ltd’.

Key Attributes
Corporation Bank has an array of awards and recognitions to its credit, including National Award for Assistance to Exporters from the President of India for the year 1976-77, Shiromani Award for Banking from Union Minister of Commerce in the year 1992, Best Bank Award for Excellence in Banking Technology from Institute for Development and Research in Banking Technology (IDRBT) in the year 2001, and Best Bank Award for Innovative Usage and Application on INFINET (Indian Financial Network) from the same institution in the year 2002.

Apart from it, Corporation Bank has been the path breaker among the Indian banks in many ways, as it was the first bank in the country to launch Cash Management Services, Gold Banking, m-Commerce and 100% Core Banking Services (CBS) compliance.

Products and Services
Corporation Bank offers a wide range of banking products and services to its customers, including Personal Banking Services, Internet Banking Services, Value Added Banking Services, Corporate Banking Services and Credit Card & Debit Card Services. The bank allocates due attention towards its corporate and international business customers, bringing some customized services such as Gold Card Scheme for Exporters. Also, the bank has introduced some specialized services to cater to the specific needs of Micro and Small Enterprises (MSE) customers, enabling them leverage its potential to their maximum benefit.

Head Office
Corporation Bank
Mangaladevi Temple Road
Pandeshwar
MANGALORE 575 001
Karnataka, India
Website: http://www.corpbank.com

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Central Bank of India

Central Bank of India is one of the oldest commercial banks of India, and reportedly is the first truly Indian bank which was totally owned and established by Indian without any foreign help.

Sir Sorabji Pockhanawala was the founder of the bank, who had always dreamt of establishing a thoroughly Indian bank, who was so happy and excited about the project that he reportedly termed the Central Bank of India as “property of the nation and the country’s asset”. The first Chairman of the bank was Sir Pherozesha Mehta, a yet another Indian enthusiast. In the year 1969 the bank was nationalized by the Government of India.

Key Attributes
Central Bank of India claims to be the first bank to be conferred with the National Award for Excellence in Micro and Small Enterprises (MSE) Lending for the year 2007-08.

The bank entered a partnership with Kotak Mahindra Assets Management Company in December 2008, under which all the Kotak Mutual Fund products will be made available through Central Bank of India branches.

Products and Services
Central Bank of India offers a host of banking services to its customers including Regular Banking Services such as Deposits and Loans, International Banking Services, and other services including Centralcard Electronic Cards, Debit Cards, No-Frills Savings Deposit Account under the name Cent Bachat Khata, and Finance options for domestic and international tours under the name Cent Safar.

Presence in India
Central Bank of India has a strong presence in the country with over 3000 branches and more than 250 extension counters nationwide as of April 2009. The headquarters of the bank are located in Mumbai, the financial capital of India, along with 16 other zonal offices established in different cities of the nation, including Agra, Ahmedabad, Bhopal, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Lucknow, Mumbai Metro Zonal Office, Muzaffarpur, Nagpur, New Delhi, Patna, Pune and Raipur.

Head Office
Central Bank of India
Chander Mukhi, Narman Point
Mumbai – 400 021
Website: http://www.centralbankofindia.co.in

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Canara Bank

Canara Bank is one of the most prominent commercial banks of India. The bank was established in the year 1906 at Mangalore, Karnataka by a well known personality Mr. Ammembal Subba Rao Pai. Initially, it was founded with the name Canara Bank Hindu Permanent Fund, but later on the name was changed to Canara Bank Limited.

Mr. Ammembal Subba Rao Pai had envisioned the bank to not only offer financial services but also fulfill social causes such as removal of superstitions and ignorance, promotion of habit of saving, providing assistance to the people in need and develop a sense of humanity among the people.

Key Attributes
Apart from setting other benchmarks in the field of providing comprehensive banking services to the consumers, Canara Bank has a number of achievements to its credit, which include being the first bank in India to have launched Inter-City ATM network, being the first bank to have been awarded ISO Certification for one of its branches, providing credit card for farmers for the first time in India along with offering Agricultural Consultancy Services.

Vital Details
Canara Bank has established a strong presence in the country, with 2710 branches across the nation as of September 2008. The bank boasts of having the maximum number of ATM installations among all the nationalized banks summing up to more than 2000 of them at 698 centres. Also, 1351 branches of the bank provide Internet and Mobile Banking (IMB) services, while ‘Anywhere Banking’ services are being provided at 2027 of its branches. All the branches of Canara Bank are enabled with Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) transaction facilities, insuring smooth and swift money transfer from any corner of the nation to another corner.

Products and Services
Canara Bank offers a host of banking and value added services to its customers, which include Personal Banking Services, Corporate Banking Services, NRI Banking Services and Priority & SME Credit Services.

Head Office
Canara Bank
Head Office
112, J C Road
BANGALORE – 560 002
Website: http://www.canarabank.com

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Bank of Maharashtra

Bank of Maharashtra is an Indian bank based in the city of Pune. The bank was established in the year 1935 with an initial authorized capital worth Rs. 10.00 Lacs, although it became operational in the early phase of the next year. The bank got nationalized by the Government of India in the year 1969. With a total number of 1421 branches located all over India as of April 2009, the bank claims to have the largest number of branches within the state of Maharashtra, among all the Public Sector banks.

Commonly known as a common man’s bank, Bank of Maharashtra adopts a philosophy of “Technology with personal touch”, and follows its motto stating “One Family, One Bank, Bank of Maharashtra”.

Facilities
All the branches of Bank of Maharashtra have been fully computerized, with Depository services and Demat facilities being offered at 131 branches as of April 2009. The bank aims at increasing its ATM network from 345 to 500 soon, apart from planning to install Biometric ATMs at some selected branches. Apart from it, introduction of Phone Banking, Internet Banking and Mobile Banking is also on the cards.

Other Highlights
Apart from providing regular banking services to the customers, Bank of Maharashtra has established two Joint Ventures to fulfill its other commitments towards the general public and society. These Joint Ventures are M-SETI and Mahabank Info Centre. Mahabank Self-Employment Training Institute (M-SETI) is an effort initiated by Mahabank Agricultural Research & Rural Development Fund (MARDEF), a trust run by Bank of Maharashtra receiving help from National Bank for Rurl Development (NABARD). The institute runs various self-employment oriented training courses for the rural unemployed youth from the districts of Pune, Kolhapur, Satara, Sangli, Nashik, Ahmednagar, Jalgaon, Dhule and Nandurbar.

Mahabank Info Centre is a yet another initiative by Bank of Maharashtra aimed at providing various retail baking related information to the customers, and enabling smoother operations for them.

Head Office
Bank of Maharashtra
Lokmangal, 1501, Shivajinagar, Pune (Maharashtra) – 411 005
Website: www.bankofmaharashtra.in

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Bank of India

Bank of India was founded on September 7, 1906 by a group of eminent businessmen from Mumbai. In July 1969 Bank of India was nationalized along with 13 other banks.

Beginning with a paid-up capital of Rs.50 lakh and 50 employees, the Bank has made a rapid growth over the years. It has evolved into a mighty institution with a strong national presence and sizable international operations. In business volume, Bank of India occupies a premier position among the nationalized banks.

Presently, Bank of India has 2609 branches in India spread over all states/ union territories including 93 specialized branches. These branches are controlled through 48 Zonal Offices.

Bank of India has several firsts to its credit. The Bank has been the first among the nationalised banks to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. It pioneered the introduction of the Health Code System in 1982, for evaluating/ rating its credit portfolio. Bank of India was the first Indian Bank to open a branch outside the country, at London, in 1946, and also the first to open a branch in Europe, Paris in 1974. The Bank has sizable presence abroad, with a network of 23 branches (including three representative office ) at key banking and financial centres viz. London, New York, Paris, Tokyo, Hong-Kong, and Singapore.

Website: www.bankofindia.com

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Bank of Baroda

Bank of Baroda is one of the most prominent banks in India, having its total assets as Rs. 1,43,146 Crores as on 31st of March 2007. The bank was founded by Maharaja Sayajirao Gaekwad III (also known as Shrimant Gopalrao Gaekwad), the then Maharaja of Baroda on 20th of July 1908 with a paid capital of Rs. 10 Lacs. From its introduction in a small building of Baroda, the bank has come a long way to achieve its current position as one of the most important banks in India. On 19th of July 1969, Bank of Baroda was nationalized by the Government of India along with 13 other commercial banks.

Financial Details
As of March 2007, the bank had total deposits worth Rs. 1,24,915 Crores while it had a total number of 2956 branches located worldwide as on April 2009, out of which 626 were located in Metro cities, 524 in Urban areas, 642 in Semi-Urban locations, 1092 in Rural areas and 72 were located outside India. The bank has 10 Zonal Offices and 43 Regional Offices which help it control its operations nationally.

International Presence
Along with a huge network of its branches spread across India, Bank of Baroda has its overseas branches located in 14 other countries, which include Bahamas, Bahrain, Belgium, China, Fiji Islands, Hong Kong, Mauritius, Republic of South Africa, Seychelles, Singapore, Sultanate of Oman, United Arab Emirates, United Kingdom and United States of America. Apart from it, the bank has established its subsidiaries in 7 countries viz. Botswana, Ghana, Guyana, Kenya, Tanzania, Trinidad & Tobago and Uganda, and its representative offices in 3 countries which are Australia, Malaysia and Thailand.

Other Details
Bank of Baroda had a total workforce of 38063 employees offering their services to the institution as of September 2006. Out of these, 13525 were Officers, 16497 were Clerks while 8041 were Sub-Staff members.

The bank offers a wide array of customized and specialized services to meet the diverse needs of its customers, and these services have been categorized into Personal Banking, Business Banking, Corporate Banking, International Banking, Treasury Banking and Rural Banking services.

Head Office
Bank of Baroda
Suraj Plaza-1, Sayaji Ganj,
Baroda-390005

Bank Of Baroda
Baroda Corporate Centre,
Plot No – C-26, G – Block, Bandra – Kurla Complex, Bandra (East),
Mumbai-400051
Website: www.bankofbaroda.com

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