SBI Commercial and International Bank (SBICI)
SBI Commercial and International Bank (SBICI) is a completely owned private auxiliary of India's biggest banking and financial services set up, the State Bank of India. Established in 1995 to back SBI's corporate and international banking services, the SBI Commercial and International Bank is the only bank in India to be been awarded ISO-9002 quality systems certification for the Bank as a whole, encompassing all its products and services at all the locations. Within a short span of time, this…
Kotak Mahindra Bank
Kotak Mahindra Bank is one of India's leading financial private banking institutions. It offers banking solutions that covers almost every sphere of life. Some of its financial services include commercial banking, stock broking, mutual funds, life insurance and investment banking. Established under the brand of Kotak Mahindra Finance Ltd in 1984, it was given the license to carry on with banking business by the Reserve Bank of India in February 2003. It is the first company in the Indian banking…
Karur Vysya Bank
The Karur Vysya Bank Limited commonly known as KVB was set up by Late Shri Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar, the two great visionaries in 1916 in Karur, a textile town in the Tamil Nadu state of India. This bank was formed as a simple financial unit in order to provide aid and financial assistance to the traders and small agriculturists in and around Karur. The Bank began with a mere capital of Rs. 1 lakh,…
Karnataka Bank Limited
Karnataka Bank Limited is a leading private sector bank in India. It was incorporated on 18th February 1924 at Mangalore, a town located in the Kannada district of Karnataka. The bank emerged as a major player during the freedom movement of 20th Century India. During its process of expansion, the Karnataka Bank merged with other banks like Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka. Today, Karnataka Bank has emerged as one of the top financial service…
Jammu and Kashmir Bank
The origin of Jammu and Kashmir Bank Limited, more commonly referred to as J&K Bank, can be traced back to the year 1938, when it was established as the first state-owned bank in India. The bank was incorporated on 1st October 1938 and it was in the following year (more precisely on 4th July 1939) that it commenced its business, in Kashmir (India). It was initially set up as a semi-State Bank, with its capital being contributed by State as…
ING Vysya Bank
ING Vysya Bank Ltd came into being in October 2002, when erstwhile Vysya Bank Ltd was merged with ING, a global financial powerhouse boasting of Dutch origin. Vysya Bank Ltd, one of initial banks to be set up in the private sector of India, was established in the year 1930, with the aim of providing a helping hand to all those who couldn't afford the privilege of enjoying the services of a bank. Eighteen years later, in 1948, the bank…
IndusInd Bank
The idea behind IndusInd Bank, named after the Indus Valley civilization, was conceived by Mr. Srichand P. Hinduja, the head of the Hinduja Group. One of the first new-generation private banks in India, IndusInd Bank was inaugurated in April 1994, Dr. Manmohan Singh, the present Prime Minister of India, who was then the Finance Minister of the country. It was established with the help of collective contributions from the NRI community, towards the economic and social development of India. The…
ICICI Bank
ICICI Bank started as a wholly owned subsidiary of ICICI Limited, an Indian financial institution, in 1994. Four years later, when the company offered ICICI Bank's shares to the public, ICICI's shareholding was reduced to 46%. In the year 2000, ICICI Bank offered made an equity offering in the form of ADRs on the New York Stock Exchange (NYSE), thereby becoming the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the…
HDFC Bank
Housing Development Finance Corporation Bank, more popularly known as HDFC Bank Ltd, was established in the year 1994, as a part of the liberalization of the Indian Banking Industry by Reserve Bank of India (RBI). It was one of the first banks to receive an 'in principle' approval from RBI, for setting up a bank in the private sector. The bank was incorporated with the name 'HDFC Bank Limited', with its registered office in Mumbai. The following year, it started…
Federal Bank
Federal Bank Limited was founded as Travancore Federal Bank Limited in the year 1931, with an authorized capital of Rs. 5000. It was established at Nedumpuram, a place near Tiruvalla, in Central Travancore (a princely state later merged into Kerala), under Travancore Company's Act. Thirteen years later, in 1944, Shri K P Hormis and his close relatives /friends took over the controlling interest in the bank. The following year, the paid-up capital of the bank went up to 71,000 and…