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Banks in India
The concept of Banking in India dates back to the first half of 18th century. The first bank that was established in the country was The General Bank of India founded in 1786. After that came the State Bank of India in Kolkata in 1806 which was then known as The Bank of Bengal.
The operations of all the banks in India are controlled by the Reserve Bank of India. All the Indian banks are governed by the RBI or Reserve Bank of India. This governing body took over the reasonability of formally regulating the Indian banks in 1935. The Reserve Bank of India was announced as the official Central Banking Authority for the smooth supervision of the banking industry in India. Banks in India are classified into 2 broad categories namely, Public sector banks and Private sector banks.
The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the 'cost', determined by revenue minus profit model.
This means that all the resources should be used efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks focused on the 'revenue' model which is equal to cost plus profit. Post the banking reforms, banks shifted their approach to the 'profit' model, which meant that banks aimed at higher profit maximization.
Banks such as State Bank of India, Bank of Baroda, Syndicate Bank and Canara Bank are known as Public sector banks. Public sector banks are controlled and managed by the Government of India. Public sector banks have been serving the nation for over centuries and are well known for their affordable and quality services.
The banking sector in India is mostly dominated by the Public sector banks. The Public sector banks in India alone account for about 75 percent of the total advances in the Indian banking industry. Public sector banks have shown remarkable growth over the last five four decades.
Allahabad Bank was the first fully owned Indian bank. It was founded in the year 1865.
Private Banks are banks like HDFC bank, ICICI Bank, UTI bank and IDBI bank. The concept of private banking was introduced about 15 years ago. These are the banks that do not have any government stakes.
Private Banks have gained quite a strong foothold in the Indian banking industry over the last few years especially because of optimum use of technology. The Private Banks are accountable for a share of 18.2 percent of the Indian banking industry.
IndusInd Bank was the first private bank in India. Currently the bank is among the fastest growing Bank Private Banks in the country. IDBI which is ranked as the tenth largest global development bank is counted as one of the finest financial institutions in the subcontinent.
The Private sector banks were using state of the art technology and fully computerized systems since the time they entered the Indian market whereas the Public sector banks were not.
However despite the technological challenges the public sector banks in India are still the preferred destinations for many as they are considered as safer options for money deposit.
Last Updated 1/19/2012
The banking scenario in India has already gained momentum, with the domestic and international banks gathering pace. All the banks in India are following the 'cost', determined by revenue minus profit model.
This means that all the resources should be used efficiently to improve the productivity and ensure a win-win situation. To survive in the long run, it is essential to focus on cost saving. Previously, banks focused on the 'revenue' model which is equal to cost plus profit. Post the banking reforms, banks shifted their approach to the 'profit' model, which meant that banks aimed at higher profit maximization.
Public sector banks in India
Banks such as State Bank of India, Bank of Baroda, Syndicate Bank and Canara Bank are known as Public sector banks. Public sector banks are controlled and managed by the Government of India. Public sector banks have been serving the nation for over centuries and are well known for their affordable and quality services.
The banking sector in India is mostly dominated by the Public sector banks. The Public sector banks in India alone account for about 75 percent of the total advances in the Indian banking industry. Public sector banks have shown remarkable growth over the last five four decades.
Allahabad Bank was the first fully owned Indian bank. It was founded in the year 1865.
List of Public sector banks in India
Branches of Public sector banks in the different states in India
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Allahabad Bank in Andhra Pradesh Visakhapatnam,Main Branch, 30-15-171 Daba Gardens, Near Saraswati Park, Visakhapatnam-530020, Andhra Pradesh Allahabad Bank in Gujarat 2nd Floor, Navin House, Navrangpura Ahmedabad (Ph: 079 26460354) Allahabad Bank in Karnataka No. 2, FKCCI Building, K G Road, Bangalore Sri. Sadanandam, Manager (Operations), Phone no: 22262064, Bank of Baroda in Gujarat Opp Custom House, Navjivan Post, Navrangpura, Ahmedabad - 380009 Phone no + (91)-(79)-27541936 Bank of Baroda in Karnataka P B No.5010, No.66, Blue Moon Complex, M G Road, Bangalore - 560001 Phone no + (91)-(80)-25583202 Bank of Baroda in West Bengal 3B, Abanindra Thakur Sarani, Camac Street, Kolkata - 700016 Phone no + (91)-(33)-22264576 State Bank of India in West Bengal 134, Tollygunge Circular Road, New Alipur, Kolkata - 700053 Phone no + (91)-(33)-24003924, State Bank of India in Karnataka No.591, Near ST Johns Water Tank, Sarjapur Road, 3RD Block, Koramangala, Bangalore - 560095 Phone no + (91)-(80)-25943198 |
State Bank of India in Rajasthan State Bank Of India Opp SAI Baba Tempo, Nh-8, Delhi Jaipur Rd, Kukas Rajasthan, Jaipur - 303101 Phone no + (91)-9799392968 Punjab National Bank in Maharashtra Mumbai n c kelkar road, nc kelkar Maharashtra - 400028 Phone - 59 022-24301419/2430366 Fax - 24306881 Punjab National Bank in Tamil Nadu KANCHEEPURA M 514- 515, GAND TAMIL NADU - 631501 Phone no - 283 044-27222995, 27222107 IFSC Code - PUNB0028300 Punjab National Bank in Karnataka BANGALORE CITY VOKKALIGARA KARNATAKA Phone - 41 080-22237910 Fax - 080-22278794 Bank of India Baghajatin super market, 2nd floor, (kmc building),Raja s.c. Mullick Road Phone no: 033 24251453 Bank of India in Maharashtra Maharshi Dadhichi Marg, Fort, Bombay - 022 22022494 |
Private sector banks in India
Private Banks are banks like HDFC bank, ICICI Bank, UTI bank and IDBI bank. The concept of private banking was introduced about 15 years ago. These are the banks that do not have any government stakes.
Private Banks have gained quite a strong foothold in the Indian banking industry over the last few years especially because of optimum use of technology. The Private Banks are accountable for a share of 18.2 percent of the Indian banking industry.
IndusInd Bank was the first private bank in India. Currently the bank is among the fastest growing Bank Private Banks in the country. IDBI which is ranked as the tenth largest global development bank is counted as one of the finest financial institutions in the subcontinent.
List of Private sector banks in India
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Branches of Private sector banks in the different states in India
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ICICI Bank LTD in Maharashtra 40 2nd Floor Raheja Point, Near Western Express Highway, Vakola Pipe Line, Santacruz East, Mumbai - 400029 ICICI Bank LTD Gala No 2, Ground Flr, Kohli Niwas Plot No 72, Tpsv Prabhat Colony, Santacruz East, Mumbai - 400055 ICICI Bank LTD in West Bengal 1 A, Elgin Apartment, Ashutosh Mukherjee Road, Lala Lajpat RAI Sarani, Kolkata - 700020 ICICI Bank LTD in West Bengal 31, Chowringhee Road, Near Park Street Metro Station Park Street, Kolkata - 700016 ICICI Bank LTD in Karnataka No.496, Salarpuria House, Cmh Main Road, Indiranagar, Bangalore - 560038 ICICI Bank LTD in Karnataka No.1, 2ND Floor, ICICI Bank Towers, Shobha Pearl, Opp to Mayo Hall, Commissariat Road, Bangalore - 560025 Bank of Punjab in Karnataka No.543, Next To Food World, Cmh Main Road, Indiranagar, Bangalore - 560038 Bank of Punjab in West Bengal 72, Sarat Bose RD, Bhowanipur, Kolkata - 700025 HDFC Bank in Gujarat HDFC House, Ground Floor, Astral Tower, Mithakhali Six Roads, Mithakhali, Ahmedabad - 380009 |
HDFC Bank in Maharashtra Narayan Property 26/A, Chandivili Farm Road, Andheri East, Mumbai - 400072 HDFC Bank in Maharashtra Times Tower Mezanine Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 HDFC Bank in Andhra Pradesh H No 1-10-60/3, Suryodaya Building, Opp Shoppers Stop, Begumpet, Hyderabad - 500016 HDFC Bank in Andhra Pradesh D No 7-1-210, Ground Floor, Burugula SVC Complex, Balkampet, Main Road, Ameerpet, Hyderabad - 500016 Federal Bank in West Bengal Dr Harendra Kumar Mukherjee Sarani, Kolkata, West Bengal Federal Bank in Maharashtra Kandivili Mumbai greater Bombay Maharashtra Phone no: 022 28874433 28463083 Fax +91-484-2622672 Federal Bank in Karnataka P B No. 25058, 44 & 45 Residency Road, Bangalore, 560 025 Federal Bank in Karnataka No 70, Gandhi Bazar Main Road, First Floor, Basavanagudi, Bangalore, 560 004, Bangalore, Karnataka |
Comparison between Private and Public Sector Banks
The Private sector banks introduced the concept of online banking in India. This was mostly because the private banks were technologically well equipped. Online banking is extremely common today since you can sit anywhere and go ahead with your banking transactions. You do not have to personally visit your bank.The Private sector banks were using state of the art technology and fully computerized systems since the time they entered the Indian market whereas the Public sector banks were not.
However despite the technological challenges the public sector banks in India are still the preferred destinations for many as they are considered as safer options for money deposit.
Table representing the net income of a few private and public banks
Last Updated 1/19/2012
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