Catholic Syrian Bank
With the Swadeshi Movement of early 20th century as its base, Catholic Syrian Bank was incorporated on 26th November 1920, in the Thrissur district of Kerala. The bank commenced its operations on 1st January 1921, with an authorized capital of Rs. 5 lakhs and a paid up capital of Rs. 45270. For the first two decades after its foundation, the bank concentrated solely on Kerala. Following the crash of Travancore National Quilon Bank in 1938 and Palai Central Bank in…
Bank of Rajasthan
A leading private sector bank, the Bank of Rajasthan was founded on the auspicious day of Akshya Tritiya on May 8, 1943, at Udaipur. Shri Rai Bahadur Chatterji, the then finance minister of the erstwhile Mewar Government, extensively contributed towards the establishment of the Bank. The bank started with a capital of only Rs. 10 lakhs. Late Seth Shri Govind Ram Seksaria, an eminent Industrialist, was the founder Chairman. It was, in 1948, that the Bank of Rajasthan became a…
Axis Bank
Axis Bank was formed as UTI Bank when it was incorporated in 1994 when Government of India allowed private players in the banking sector. The bank was sponsored together by the administrator of the specified undertaking of the Unit Trust of India, Life Insurance Corporation of India (LIC) and General Insurance Corporation ltd. and its subsidiaries namely National insurance company ltd., the New India Assurance Company, the Oriental Insurance Corporation and United Insurance Company Ltd. However, the name of UTI…
IDBI Bank
The Industrial Development Bank of India Limited, now more popularly known as IDBI Bank, was established as a wholly-owned subsidiary of Reserve Bank of India. The foundation of the bank was laid down under an Act of Parliament, in July 1964. The main aim behind the setting up of IDBI was to provide credit and other facilities for the Indian industry, which was still in the initial stages of growth and development. In February 1976, the ownership of IDBI was…
Vijaya Bank
Vijaya Bank was flagged off on 23rd October 1931. Late Shri , along with other enterprising farmers in Mangalore, Karnataka, founded the bank to inculcate banking habits in the farming community of Dakshina Kannada district in Karnataka State. In 1958, it was promoted and became a scheduled bank. From 1963 to 68, the Vijaya bank grew both in terms of size and stature - 9 small banks had merged with it, thus contributing to its growth and advancement. On April…
United Bank of India
Originally established as United Bank of India Ltd., the bank was a result of merger of four Bengali banks - Comilla Banking Corporation Ltd., Bengal Central Bank Ltd., Comilla Union Bank Ltd. and Hooghly Bank Ltd. in 1950. Almost two decade later, in 1969, United Bank of India was one among the major banks that were nationalized. Thereafter, the bank expanded in a major way, covering all the states of India. It also was an active participant in the growth…
Union Bank of India
Union Bank of India was inaugurated by the Father of the Nation, Mahatama Gandhi, on November 11, 1919. Started as a limited company in Mumbai, it was one of the few Financial Commercial banks in India. Until 1947, UBI had only 4 branches - 3 in Mumbai and 1 in Saurashtra, all concentrated in key trade centres. Catering to all the sectors of the society, be it agriculture, industry, trade and commerce, services or infrastructure, the bank has also played…
UCO Bank
UCO Bank is a commercial bank established in 1943. The idea to establish the bank was first conceived by Birla, the famous industrialist, after the historic 'Quit India Movement' in 1942. The idea was culminated on the 6th of January 1943, when The United Commercial Bank Ltd. was born with its Registered and Head Office at Kolkata. A commercial bank and a Government of India Undertaking, it comprises of government representatives as well as renowned professionals like accountants, management experts,…
Syndicate Bank
Established in the year 1925, Syndicate Bank had its first office in the coastal region of Karnataka, Udupi. It was then named as 'Canara Industrial & Banking Syndicate Ltd'. The bank was initiated by a trio - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and M A Pai, a physician, with a capital of Rs. 8000. During that time, the crisis in the handloom industry crippled the local weavers completely. The main aim of Syndicate Bank…
The State Bank of Travancore
The State Bank of Travancore (SBT) came into existence as Travancore Bank Ltd. in 1945. It was sponsored by the former Princely State of Travancore, Kerala. Apart from conducting general banking business, the Bank undertook government treasury work and foreign exchange business. Travancore Bank Ltd. was made as a subsidiary of the State Bank of India in 1960 and a member of the State Bank Group, under the SBI subsidiary Banks Act 1959, under the special statute of the Parliament…