In early 19th Century, Banks in India started out by following the British pattern. In those days, the Indian banks were mostly joint stock banks (Joint stock bank is a bank which is a public company with shares owned by investors rather than a government). Also at the time of Second World War, nearly 1500 joint stock banks were operating in undivided India out of which 1400 were non – schedule banks which were managed by bad and dishonest management. Hence, Government had to step in and intervened in Banking Company Act, 1949, which was later renamed as Banking Regulation Act. In today’s time, India has developed a strong banking and financial industry and emerged as the most influential sector in India’s economy. Below is the list of Largest Banks in India which contributed in the growth of India’s economy: Housing Development Finance Corporation (HDFC) Bank HDFC incepted in 1977 as India's premier housing finance company and enjoyed an impeccable track record in India as well as in international markets. This private bank was incorporated on 30th August 1994. HDFC transacts both traditional commercial banking as well as investment banking. The head office of the bank is in Bombay and it has a presence in Bahrain, Hong Kong, and Dubai. In 2016 it was ranked 69th Brand Z 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. Market Capital of HDFC Bank Currently, HDFC Bank is the most valued bank in the country with market value of Rs. 4,22,700 crore (nearly $ 66 billion). It is the country’s second largest private lender by assets and the second most expensive bank globally. HDFC bank is also considered as more valuable than Deutsche Bank, Credit Suisse, SocGen in market cap. Today HDFC bank’s market cap is double than that of Deutsche bank. In the home grown, HDFC bank is the third biggest company in terms of market cap behind Tata Consultancy Services (TCS) and Reliance Industries. Currently, TCS has a market cap of around Rs 496,843 crore ($77 billion) and RIL is valued at Rs 432,408 crore ($67 billion). IFSC codes of HDFC bank The 11 digit alphanumeric (consist of both letter and numerals) code allocated by RBI consists of three parts: First four characters identify the bank name i.e. HDFC the fifth character is always 0 and the last characters represents the branch address i.e. 000391 (The IFS code used in above example is of Delhi, Adarsh Nagar i.e., “HDFC0000391") Click Here to Find IFSC Code of HDFC Bank and its Branches. Canara Bank Canara Bank was established at Mangalore in 1906. Its headquarters is in Bengaluru. It is one of the major public-sector banks owned by the Government of India and it was nationalized (Nationalization is an act of taking an industry or assets into the public ownership of a national government) in 1969. The bank is widely known for Customer Centricity. It has expanded its domestic presence with 6089 branches, 10559 ATMs. In 1983, the Bank inaugurated an overseas branch at London. Other branches of the bank are in various countries like USA, UK, UAE, Russia, China, Hong Kong, South Africa and Bahrain. Market Capital of Canara Bank This public banking financial institution has a market cap of Rs. 20107.77 Cr. According to sources,” Canara Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed ₹ 29585.67 Cr to Sales Value (71.48 % of Total Sales), Income From Investment which contributed ₹ 10711.29 Cr to Sales Value (25.88 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed ₹ 768.20 Cr to Sales Value (1.85 % of Total Sales) and Interest which contributed ₹ 322.49 Cr to Sales Value (0.77 % of Total Sales) for the year ending 31-Mar-2017”. The Gross Non Performing Assets (Gross NPAs) of the bank is Rs 37657.76 Cr. and Net Non Performing Assets (Net NPAs) is Rs 24300.63 Cr. IFSC codes of Canara bank IFS Code is the 11-digit alphanumeric code which is required in order to facilitate Electronic Clearing Systems (ECS), National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement (RTGS). In IFS Code (a) First four characters identify the bank name i.e. CNRB (b) The fifth character is always 0 (c) And the last characters represent the branch address i.e. 005123 [The IFS code used in above example is of New Delhi, Kirari Suleman Nagar i.e. “CNRB005123”] Click Here to Find IFSC Code of Canara Bank and its Branches. State Bank of India Beginning of State bank of India goes back to the first decade of the 19th Century, with the establishment of Bank of Calcutta. Later it became as the State Bank of India. The bank played an important role in shaping the banking sector of the economy by being repositories to savings and lenders to leading businesses across India. Thus, it had played a pivotal role in the development of country’s economy. The State Bank of India is country’s oldest bank, in terms of balance sheet size, number of branches, market capitalization and profits. It is also getting into much new business such as Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc. Market Capital of State Bank of India State Bank of India excelled Oil and Natural Gas Corporation Ltd (ONGC) to become the country’s most valuable Public Sector Unit (PSU) in market valuation. As the market cap of SBI stood at Rs 2, 35,307.51 crore. Also, among the top 10 most valued companies list, SBI secured fifth position in the list. IFS Code of State Bank of India IFS Code is the 11-digit alphanumeric code which is required in order to facilitate Electronic Clearing Systems (ECS), National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement (RTGS). In IFS Code (a) First four characters identify the bank name i.e. SBIN (b) The fifth character is always 0 (c) And the last characters represent the branch address i.e. 031630 [The IFS code used in above example is of New Delhi, Amar Colony i.e. “SBIN0031630”] Click Here to Find IFSC Code of SBI Bank and its Branches. Market Cap of HDFC, Canara and SBI
0 Comments
Leave a Reply. |
Details
Rahul BhistFirst blog by the Bhist Archives
February 2018
Categories |