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Private Sector Banks

RBL Bank

In August 1943, RBL Bank was incorporated as a small, regional bank in Maharashtra with two branches in Kolhapur and Sangli. It was founded by a group of eminent patriotic personalities to cater to the needs of small and medium business merchants in the Kolhapur-Sangli belt. In August 1959, the Bank was categorised as a "Scheduled Commercial Bank" within the meaning of the Reserve Bank of India Act, 1934. In the banking circles, RBL Bank was often known as the NH4 Bank, since a majority of its business was sourced from cities in and around the 1,235-kilometer-long National Highway 4 that connected four of the 10 most populous cities in India.   In July, 2010, RBL Bank underwent a transformation during the difficult economic period following the global financial crisis as well as the economic slowdown that followed in India. The Bank inducted Mr. Vishwavir Ahuja as the Managing Director & CEO to transform the institution from an old private sector bank into a vibrant, professionally…
Score: 1.16

Jammu and Kashmir Bank

Founded on 1st October, 1938  Jammu and Kashmir Bank commenced the banking business on 4 July 1939 and was considered the first of its nature and composition as a State owned bank in the country. The bank was established as a semi-State Bank with participation in capital by State and the public under the control of State Government. In year 1971, the bank had acquired the status of a scheduled bank and was declared as an "A" Class bank by the Reserve Bank of India in 1976. Following the extension of Central laws to the state of Jammu & Kashmir, the bank was defined as a government company as per the provisions of Indian companies act 1956.   J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country. It is also the only private sector bank designated as RBI's agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT. It is the sponsoring bank of J&K Grameen…
Score: 1.0

Yes Bank

Yes Bank was incorporated as a Public Limited Company on November 21, 2003. Subsequently, on December 11, 2003, RBI was informed of the participation of three private equity investors namely (Citicorp International Finance Corporation, ChrysCapital II, LLC and AIF Capital Inc.), to achieve the financial closure of the Bank. RBI by their letter dated February 26, 2004 provided their no-objection to the participation of the three private equity investors namely Citicorp International Finance Corporation, ChrysCapital II, LLC and AIF Capital Inc. in the equity of the Bank at 10%, 7,5% and 7.5%, respectively, and also advised the Bank to infuse a sum of Rs. 2000 million as the paid up capital. Additionally, the RBI advised the Bank to submit an application for final approval after completion of all formalities for incorporation as a banking company and setting out the capital structure of the Bank as approved by RBI.   RBI by their letter dated December 29,2003 decided to further extending…
Score: 1.0

Tamilnad Mercantile Bank

The history of Tamilnad Mercantile Bank dates back to 1921. The idea to establish a bank for the Nadar business community was first proposed at the annual meeting of the Nadar Mahajana Sangam held at Tuticorin in 1920. The bank was originally registered on 11 May 1921 as Nadar Bank Limited under the Indian Companies Act, 1913. M.V.Shanmugavel Nadar was elected as the first chairman on 4 November 1921. The bank was opened to the public by T.V.Balagurusamy Nadar on 11 November 1921 in Ana Mavanna Building at South Raja Street, Tuticorin. In 1937 Nadar Bank opened a branch in Ceylon, but by 1939 it had closed it.   By 1947 the bank had only four branches: Tuticorin, Madurai, Sivakasi and Virudhunagar. The bank opened its first Indian branch outside the state of Tamil Nadu in 1976 at Bangalore. The first fully computerised branch was opened at WGC Road, Tuticorin on 9 December 1984. The Bank launched its ATM Card on 11 November 2003.   Today, Tamilnad Mercantile Bank Limited (TMB) is a bank…
Score: 1.0

South Indian Bank

South Indian Bank was registered as a private Limited Company under the companies Act of 1913 and commenced business on 29-01-1929 at Round South, Thrissur. The South Indian Bank Ltd., was formed by a group of 44 enterprising men of Thrissur who contributed Rs.500/ - each to the initial paid up capital of Rs.22,000/ -. Their main objective was to serve the merchant community of Thrissur by freeing them from the clutches of the money lenders who charged exorbitant rates of interest.The bank received very good support from the public at large. Initially the growth was slow but steady. The number of branches opened each year testified its stability and popularity. It was included in the second schedule of the Reserve Bank of India and became a scheduled Bank on 07-08-1946. SIB was the first scheduled Bank in the private sector in Kerala to get the license under section 22 of the Banking Regulation Act 1949 from RBI on 17-06-1957.   The bank, as part of a global brand-building exercise, has…
Score: 1.0

Nainital Bank

Nainital Bank was founded by Govind Ballabh Pant. In 1975, the government-owned Bank of Baroda (BOB), the second largest bank in India, acquired a 98.6% (around 99%) stake in the bank and made it a subsidiary. In April 2004, National Insurance Company (NIC) signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches across Uttarakhand, Haryana and New Delhi states. The bank had a net worth of around Rs 1.12 billion on as on 31 March 2006.   The bank launched its Rights issue in September 2009, to expand its capital adequacy ratio (CAR) to 14 per cent, this came after it previously withdrew its plans for an IPO due to adverse market conditions in 200. By April 2010, the right issue had raised ₹300 million (US$4.7 million).   Nainital bank is associated with Bank of Baroda, HDFC Bank, LIC, National Insurance Company Limited etc. Currently, NBL has 125 branches in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan. It also…
Score: 1.0

Lakshmi Vilas Bank

The Bank was incorporated on November 3, 1926 under the Indian Companies Act, 1913, and obtained the certificate to commence business on November 10, 1926. Subsequent to introduction of the Banking Regulations Act, 1949 and Reserve Bank of India as the regulator for the banking sector, the Bank obtained its banking license from RBI on 19,June 1958, and on 11, August 1958 it became a ‘scheduled commercial bank’ signifying capability to operate as a full-fledged commercial bank. Lakshmi Vilas Bank was founded in 1926 by a group of seven progressive businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. Their objective was to cater to the financial needs of the people in and around Karur who were occupied in trading businesses, industry and agriculture.      Lakshmi Vilas Bank saw considerable expansion of its branch network during the period 1961-65, when the Bank took over nine other banks. From 1974, the bank started expanding the branch network beyond Tamil Nadu to…
Score: 1.0

Kotak Mahindra Bank

In 1985 by Uday Kotak established what became an Indian financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL). In a study by Brand Finance Banking 500, published in February 2014 by the Banker magazine (from The Financial Times Stable), KMBL was ranked 245th among the world's top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+ and merge with ING Vysya bank in 2015.   Presently, Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) gave the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business. It offers a wide range of banking products and…
Score: 1.0

Karur Vysya Bank

'The Karur Vysya Bank Limited', popularly known as KVB was set up on 25th of July 1916 by Mr M.A Venkatarama Chettiar and Mr Athi Krishna Chettiar, to capitalise on the previously unexploited market of traders and agriculturists in and around Karur, a town in Tamil Nadu. Though the bank started with a seed capital of ₹1 lakh, As with most banks, the seed capital has grown, as have the services sold. The bank is managed and guided by the Board of Directors drawn from different fields. Realizing that there is more money elsewhere, the bank expanded out of Karur and established approximately 668 branches in other States and Union Territories in order to gain a pan-India presence. Shri K.K. Balu was appointed as an Additional Director of the Bank on 27 January 2012.   The bank primarily operates in treasury,corporate/wholesale banking and retail banking segments. KVB provides services such as personal, corporate, agricultural banking and services to NRIs and MSME. Under personal banking,…
Score: 1.0

Karnataka Bank

Karnataka Bank was incorporated on 18 February 1924, and commenced business on 23 May 1924. Its founders established it at Mangalore, a coastal town in the Dakshina Kannada district of Karnataka. Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar. Another important personality associated with the bank was K. S. N. Adiga, who served as Chairman from 1958 to 1979.   In the 1960s Karnataka Bank acquired three smaller banks. In 1960 Karnataka Bank acquired the Sringeri Sharada Bank, which was established in 1942 and which had four branches when Karnataka acquired it. Four years later, Karnataka Bank took over the assets and liabilities of the Chitradurga Bank (also known as Chitladurg Bank), which was established in 1868 in Mysore Stateand was the oldest bank in Mysore. Lastly, in 1966 Karnataka Bank took over the assets and liabilities of the Bank of Karnataka, in Hubli. Bank of Karnataka had been established in 1946 and had opened one branch…
Score: 1.0

Axis Bank

UTI Bank opened its registered office in Ahmedabad and corporate office in Mumbai in December 1993. The first branch was inaugurated on 2 April 1994 in Ahmedabad by Dr. Manmohan Singh, the Finance Minister of India. UTI Bank began its operations in 1993, after the Government of India allowed new private banks to be established. The Bank was promoted in 1993 jointly by the Administrator of the Unit Trust of India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company. In 2001 UTI Bank agreed to merge with and amalgamate Global Trust Bank, but the Reserve Bank of India (RBI) withheld approval and nothing came of this. In 2004 the RBI put Global Trust into moratorium and supervised its merger into Oriental Bank of Commerce. Later, it was renamed as Axis Bank.    Today, Axis Bank Ltd is the third largest of the private-sector banks in…
Score: 1.0

IndusInd Bank

Commencing its operations in the year 1994, IndusInd Bank derives its name and inspiration from the Indus Valley Civilization - a culture described as one of the greatest in the ancient world combining a spirit of innovation with sound business and trade practices. IndusInd Bank has grown ceaselessly and dynamically as an organization driven by a sincere zeal to give its customers banking services and products at par with the highest quality standards in the industry. The Bank was formally inaugurated in April 1994 by Dr. Manmohan Singh, the then Finance Minister of India. It started with a capital base of INR 1,000 million, which was contributed by Indian residents as well as NRIs.   The bank has specialized in retail banking services and continuously upgrades its support systems by introducing newer technologies. It is also working on expanding its network of branches all across the country along with meeting the global benchmark. According to the bank, its name is derived from the…
Score: 1.0

IDFC bank

IDFC was incorporated on 30 January 1997 with its registered office in Chennai and started operations on 9 June 1997. In 1998 the company registered with the Reserve Bank of India (RBI) as a non-banking financial company and in 1999 it formally became a Public Financial Institution.   To conform with RBI guidelines IDFC founded a non-operative financial holding company (NOFHC) in 2014 to manage its five subsidiaries IDFC Bank, IDFC MF, IDFC Alternatives, IDFC IDF & IDFC Securities. IDFC is the holding company for NOFHC IDFC Projects Ltd and IDFC Foundation. IDFC Bank started operations with 23 branches in Madhya pradesh , Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad and Kolkata. 15 branches are in settlements with a population of less than 10,000.      Prime Minister Narendra Modi formally inaugurated IDFC Bank on 19 October 2015. IDFC Bank Ltd. (Infrastructure Development Finance Company) is an Indian banking company with headquarters in Mumbaithat forms part of IDFC, an…
Score: 1.0

ICICI Bank

ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI's shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, ICICI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by ICICI to institutional investors in fiscal 2001 and fiscal 2002. ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, ICICI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services…
Score: 1.0

HDFC Bank Limited

In 1994 HDFC Bank was incorporated, with its registered office in Mumbai, India. Its first corporate office and a full service branch at Sandoz House, Worli was inaugurated by the then Union Finance Minister, Manmohan Singh.   Presently, HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It has 84,325 employees and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets. It is the largest bank in India by market capitalization as of February 2016. It was ranked 69th in 2016 Top 100 Most Valuable Global Brands. As of December 31, 2016, the Bank’s distribution network was at 4,715 branches and 12,260 ATMs across 2,597 cities/towns. HDFC Bank provides a number of products and services which includes Wholesale banking, Retail banking, Treasury, Auto (car) Loans, Two Wheeler Loans, Personal loans, Loan Against Property and Credit Cards. The latest entry in the league is 'Project AI',…
Score: 1.0

Dhanlaxmi Bank Ltd.

Dhanlaxmi Bank Ltd. was incorporated in 1927 at Thrissur, Kerala by a group of ambitious and enterprising entrepreneurs.Over the 89 years that followed, Dhanlaxmi Bank with its rich heritage has earned the trust and goodwill of clients. It is due to the strong belief in the need to seek innovation, deliver best service and demonstrate responsibility, that it has grown from strength to strength. Be it in the number of customers, the scale of business, the breadth of the product offerings, the banking experience they offer or the trust that people invest in them. With more than 645 touch points across India at service; their focus has always been on customizing services and personalizing relations.   Dhanlaxmi Bank has reported an operating profit of Rs.12.58 crore in Q1 of FY 15-16 and posted net loss of Rs.22.71 crore for the same period. CRAR of the Bank under Basel III as on 30.06.15 was 9.20% as against 9.06% during the same period of the last financial year. Net Interest Income…
Score: 1.0

DCB Bank Ltd.

Founded in the 1930s, in Mumbai from a series of Co-operative bank mergers with the Ismailia Co-operative Bank Limited and the Masalawala Co-operative Bank respectively. These 2 banks later merged to form Development Co-operative Bank, that changed to Development Credit Bank after it was granted the scheduled bank license by the Reserve Bank of India in May 1995. Development Credit Bank Ltd. went on to successfully offer shares to the public by an Initial Public Offering (IPO) in 2006. DCB Bank Limited is the new name of the Bank, changed with due regulatory approval in January 2014.   Presently, DCB Bank Ltd. is a private sector scheduled commercial bank in India. It has a network of 262 branches and 510 ATMs in the country. It offers products to individuals, small and medium businesses, rural banking and mid corporates across its branch network. The Bank is present in 18 states and 2 Union Territories. Metros having DCB Bank branches are Ahmedabad, Ambala Cantt, Aurangabad, Bengaluru,…
Score: 1.0

City Union Bank

The bank, 'The Kumbakonam Bank Limited' as it was then called was incorporated as a limited company on 31st October, 1904. The first Memorandum of Association was signed by twenty devoted and prominent citizens of Kumbakonam including Sarvashri R. Santhanam Iyer, S.Krishna Iyer, V.Krishnaswami Iyengar and T.S.Raghavachariar. T.S.Raghavachariar was the First Agent of the Bank. In 1908, he was succeeded by Shri R. Santhanam Iyer who became the Secretary of the bank under the amended Articles of Association which created the office of a Secretary to be in charge of the Bank's Management in the place of the Agent, which post he held till his death in 1926. He was succeeded by Shri. S. Mahalinga Iyer as Secretary who subsequently became the First full-time Managing Director of the bank in tune with the amendment of Articles in 1929.  He held the position of Secretary from 1926 to 1929 and that of Managing Director from 1929 to 1963. The bank in the beginning preferred the role of a regional…
Score: 1.0

Catholic Syrian Bank

CSB was founded on 26 November 1920, well before Indian independence, and opened for business on January 1st, 1921 with an authorized capital of Rs.5 lakhs and a paid up capital of Rs. 45270/- During the first two decades of its functioning, the Bank concentrated only in Kerala. Banks and credit institutions which proliferated especially in Kerala received a jolt and many of them came to their doom following the crash of the Travancore National Quilon Bank in 1938 followed by Palai Central Bank in 1960. During the period many small banks came to the verge of collapse shaking the confidence of the public and what followed was a process of consolidation. The strategy of mergers and amalgamations of small banks with bigger banks brought the number of banks within controllable limits, thereby making the industry's base strong. In 1964-65, The Catholic Syrian Bank Ltd took part in taking over the liabilities and assets of five small/medium sized banks in Kerala. The expansion programme…
Score: 1.0

Bandhan Bank Ltd.

Founded in 2001, under Mr. Chandra Shekhar Ghosh, a senior Ashoka Fellow, BFSL is involved in giving loans to small borrowers who have no access to formal banking services. In past 15 years, BFSL has earned credibility and many accolades for financing small entrepreneurs and around 6.7 million women borrowers. The organization had a network of 2,022 branches spread across 22 Indian states and Union territories, serviced by over 15,000 employees. As on 31 March 2015, BFSL had a loan book of around ₹ 9,524 crore and an impressive repayment rate of over 99%.   After almost two decades, Bandhan Bank Ltd. is an Indian banking and financial services company headquartered in Kolkata, West Bengal. Bandhan, which started as a micro-finance company in 2001, received banking licence by Reserve Bank of India in 2014. On 23 August 2015, Union Finance Minister Arun Jaitley officially inaugurated the bank in Kolkata. Initially it opened with 501 branches, 50 ATMs and 2,022 Door step Service Centres…
Score: 1.0