Introduction Of Icici Bank 5j5n12

Introduction Of ICICI Bank ICICI Bank (Industrial Credit and Investment Corporation of India) is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra, India, with its ed office in Vadodara. In 2014, it was the second largest bank in India in of assets and third in term of market capitalisation. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialised subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management. The bank has a network of 4,450 branches[4] and 13,995 ATMs[5] in India, and has a presence in 19 countries including India. ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Bank of Baroda and Punjab National Bank.[7] The bank has subsidiaries in the United Kingdom and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China[8] and South Africa; [9] and representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established branches in Belgium and . ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI) , an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a t-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry.[11][12] The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged with the bank. ICICI Bank launched internet banking operations in 1998. ICICI's shareholding in ICICI Bank was reduced to 46 percent, through a public offering of shares in India in 1998, followed by an equity offering in the form of American Depositary Receipts on the NYSE in 2000.[14] ICICI Bank acquired the Bank of Madura Limited in an all-stock deal in 2001 and sold additional stakes to institutional investors during 2001-02 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, both directly and through a number of subsidiaries and s like ICICI Bank. In 1999, ICICI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE. In 2000, ICICI Bank became the first Indian bank to list on the New York Stock Exchange with its five million American depository shares issue generating a demand book 13 times the offer size. In October 2001, the Boards of Directors of ICICI and ICICI Bank approved the merger of ICICI and two of its wholly owned retail finance subsidiaries, ICICI

Personal Financial Services Limited and ICICI Capital Services Limited, with ICICI Bank. The merger was approved by shareholders of ICICI and ICICI Bank in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002 and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002 In 2008, following the 2008 financial crisis, customers rushed to ICICI ATMs and branches in some locations due to rumours of adverse financial position of ICICI Bank. The Reserve Bank of India issued a clarification on the financial strength of ICICI Bank to dispel the rumours

Functions of ICICI Bank ICICI Merchant Services ICICI Merchant Services represents an alliance formed in 2009 between ICICI Bank, India’s largest private sector bank, and First Data, a global leader in electronic commerce and payment services. First Data is the majority stakeholder in the alliance with ICICI Bank holding 19%. Money2India Money2India (www.money2India.com) is an online money transfer tracking service offered to Non-Resident Indians by ICICI Bank Ltd. With an everexpanding base since its launch, it is the preferred mode of online money transfers to India, facilitating seamless money transfers with round the clock customer service availability. To use this service, a needs to complete a simple one-time online registration by accessing www.money2India.com and can thereafter, start sending money from any bank in 9 countries (USA, Canada, UK, Singapore, Australia, UAE, Sweden, Switzerland and Hong Kong) to any beneficiary with over 100 banks in India. Extra home loans ‘ICICI Bank Extraa Home Loans’ are 'mortgage-guarantee' backed loans for retail customers who aspire to purchase their first homes in the affordable housing segment. This was introduced in August 2015 in association with India Mortgage Guarantee Corporation (IMGC). IMGC is a t venture between National Housing Bank (NHB), an RBI subsidiary which regulates Home Finance Companies in India; NYSE-listed Genworth Financial Inc., a Fortune 500 company; International Finance Corporation (IFC) and Asian Development Bank (ADB) Smart Vault ‘Smart

Vault’ are fully automated lockers available 24x7, including weekends and post banking hours were launched in August 2015. The ‘Smart Vault’ uses robotic technology to access the lockers from the safe vault conveniently at any time of their preference in total privacy, without any intervention of the branch staff

Saral Loans In August 2015, ICICI Bank introduced ‘Saral-Rural Housing Loan’. Applicants from rural areas including women borrowers as well as seekers from weaker sections can now avail home loans at the ICICI Bank Base Rate (“I-Base”)

which is currently at 9.70%. An eligible borrower can take up to Rs.15 lac under the ‘ICICI Bank Saral-Rural Housing Loan’ ICICI Bank Unifier Bangalore Metro Card ICICI Bank and Bangalore Metro Rail Corporation Limited (BMRCL) in April 2015, announced the launch of the ‘ICICI Bank Unifare Bangalore Metro Card’ to offer the commuters dual benefits of an ICICI Bank credit or debit card and BMRCL’s smart card, called Namma Metro Smart Card. Touch n Remit' facility for NRIs in Kingdom of Bahrain In March 2015, ICICI Bank tied up with SADAD Electronic Payments WLL to offer remittance service for NRIs based in Bahrain, enabling them to transfer monies instantly to India from the latter’s kiosks spread across the Kingdom of Bahrain. This facility has been named as ‘Touch n Remit’. ICICI Bank Ltd launches 'Video Banking' for NRI In February 2015, ICICI Bank announced the launch of 'Video Banking' for all its NRI (Non Resident Indian) customers. Using this service, the customers can now connect with a customer care representative over a video call, roundthe-clock, on all days from anywhere using their smart phone

Introduction of IDBI Bank IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India. It was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry. It is currently 10th largest development bank in the world in of reach, with 3350 ATMs, 1853 branches, including one overseas branch at Dubai, and 1382 centers.[3] It is one of 27 commercial banks owned by the Government of India. Development Banking emerged after the Second World War and the Great Depression in 1930s. The demand for reconstruction funds for the affected nations compelled in setting up of national institutions for reconstruction. At the time of Independence in 1947, India had a fairly developed banking system. The adoption of bank dominated financial development strategy was aimed at meeting the sectoral credit needs, particularly of agriculture and industry. Towards this end, the Reserve Bank concentrated on regulating and developing mechanisms for institution building. The commercial banking network was expanded to cater to the requirements of general banking and for meeting the short-term working capital requirements of industry and agriculture. Specialised development financial institutions (DFIs) such as the IDBI, NABARD, NHB and SIDBI, etc., with majority ownership of the Reserve Bank were set up to meet the long-term financing requirements of industry and agriculture. Formation of Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in India. IDBI provided financial assistance, both in rupee and foreign currencies,

for green-field projects as also for expansion, modernisation and diversification purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI also provided indirect financial assistance by way of refinancing of loans extended by State-level financial institutions and banks and by way of rediscounting of bills of exchange arising out of sale of indigenous machinery on deferred payment . After the public issue of IDBI in July 1995, the Government shareholding in the Bank came down from 100% to 75%. IDBI played a pioneering role, particularly in the pre-reform era (1964–91), in catalyzing broad based industrial development in India in keeping with its Government-ordained ‘development banking’ charter. Some of the institutions built with the of IDBI are the Securities and Exchange Board of India (SEBI), National Stock Exchange of India (NSE), the National Securities Depository Limited (NSDL), the Stock Holding Corporation of India Limited (SHCIL), the Credit Analysis & Research Ltd, the Exim Bank (India), the Small Industries Development Bank of India (SIDBI) and the Entrepreneurship Development Institute of India. Conversion of IDBI into a commercial bank formed by RBI under chairmanship of S.H.Khan recommended the development financial institution (IDBI) to diversify its activity and harmonise the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking. To keep up with reforms in financial sector, IDBI reshaped its role from a development finance institution to a commercial institution. With the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained the status of a limited company viz., IDBI Ltd. Subsequently, in September 2004, the Reserve Bank of India incorporated IDBI as a 'scheduled bank' under the RBI Act, 1934. Consequently, IDBI, formally entered the portals of banking business as IDBI Ltd. from 1 October 2004. The commercial banking arm, IDBI BANK, was merged into IDBI in 2005.

Functions of IDBI Bank 1. Planning, promoting and developing industries with a view to fill the gaps in the industrial structure by conceiving, preparing and floating new projects. 2. Providing technical and istrative assistance for promotion, management and expansion of industry. 3. Providing refinancing facilities to the IFCI, SFCs and other financial institutions approved by the government.

4. Coordinating the activities of financial institutions for the promotion and development of industries. 5. Purchasing or underwriting shares and debentures of industrial concerns. 6. Guaranteeing deferred payments due from industrial concerns and for loans raised by them. 7. Undertaking market and investment research, surveys and techno-economic studies helpful to the development of industries.

Introduction of Karnataka Bank Karnataka Bank is a major banking institution based in the coastal city of Mangaluru in Karnataka, India. TheReserve Bank of India has designated Karnataka Bank as an A1+-class scheduled commercial bank. The bank now has a national presence with a network of 765 branches and above 1230 ATM's across 21 states and two Union territories. It has over 6084 employees and 6.7 million customers, including farmers and artisans in villages and small towns throughout the country. Its shares are entirely privately owned by some 1,29,862 shareholders.

The total business turnover of the Bank was ₹ 81,315 crores as on 30-09-2015, ing a y-o-y growth of 10.01%. Deposits of the Bank rose to ` 48,872 crores ing a y-o-y growth of 10.58%. Advances rose to ` 32,443 crores ing a y-o-y growth of 9.17%. Karnataka Bank has adopted core banking and Internet banking, and established its "MoneyPlant" [1100+ automated teller machine] system. During 2015-16, the bank received the IDRBT Banking Technology Excellence Award of the Institute for Development and Research in Banking Technology [IDRBT], Hyderabad for the year 2014-15. Karnataka Bank has received the Federation of Indian Export Organizations – Western Region's “Export Excellence Award for MSME”, for the year 2014 -15. Lastly, the bank has achieved the ISO 27001:2013 Certificate from UKAS, Management Systems, a UK based certifying body. The bank has the Best Bank Award for "Managing IT Risk" under small bank category for the year 2010-11, instituted by Institute for Development and Research in Banking Technology (IDRBT). Shri Anand Sinha, deputy governor, Reserve Bank of India and chairman, IDRBT presented the award to Shri P. Jayarama Bhat, managing director at a function held in Hyderabad on 4 August 2011 in the presence of Shri B. Sambamurthy, director, IDRBT. In August 2008, Karnataka Bank received the Sun and NDTV Green IT Award. Sun Microsystems and NDTV gave the award to in recognition of the bank's "green policies" and use of earth-friendly technology such as solar power 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 State and was the oldest bank in Mysore. Lastly, in 1966 Karnataka Bank took over the assets and liabilities of the Bank of Karnataka, inHubli. Bank of Karnataka had been established in 1946 and had opened one branch in Belgaum in 1947. At the time of this acquisition, Bank of Karnataka had 13 branches. In 2000, Karnataka Bank signed a memorandum of understanding with Infosys Technologies to develop a core-banking solution called FINACLE. Over 221 branches were networked up to 31 March 2004. The main motto of this programme is "Anytime/Anywhere banking". In 2002, the bank concluded a pact with Corporation Bank for sharing its ATMs. A year later, the bank introduced the Moneyplant card that allows customers to withdraw money from any of their Karnataka bank s. In September 2003, the bank shifted its head office from Kodialbail to Kankanady.

Introduction of State Bank of India

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of 2014-15, it had assets of ₹20.480 trillion (US$300 billion) and more than 14,000 branches, including 191 foreign offices spread across 36 countries, making it the largest banking and financial services company in India by assets. The company is ranked 232nd on the Fortune Global 500 list of the world's biggest corporations as of 2016 The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding, in 1806, of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two "presidency banks" in British India, Bank of Calcutta and Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955. [8] Government of India owned the Imperial Bank of India in 1955, with Reserve Bank of India (India's Central Bank) taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. The roots of the State Bank of India lie in the first decade of the 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as t stock companies and were the result of royal charters. These three banks received the exclusive right to issue paper currency till 1861 when, with the Paper Currency Act, the right was taken over by the Government of India. The Presidency banks amalgamated on 27 January 1921, and the reorganised banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a t stock company but without Government participation. Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 1 July 1955, the imperial Bank of India became the State Bank of India. In 2008, theGovernment of India acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government ed the State Bank of India (Subsidiary Banks) Act. This made SBI subsidiaries of eight that had belonged toprincely states prior to their nationalization and operatonal take-over between September 1959 and October 1960, which made eight state banks associates of SBI. This acquisition was in tune with the first Five Year Plan, which prioritised the development of rural India. The government integrated these banks into the State Bank of India system to expand its rural outreach. In 1963 SBI merged State Bank of Jaipur (est. 1943) and State Bank of Bikaner (est.1944). SBI has acquired local banks in rescues. The first was the Bank of Bihar (est. 1911), which SBI acquired in 1969, together with its 28 branches. The next year

SBI acquired National Bank of Lahore (est. 1942), which had 24 branches. Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank, which had been established in 1916 in Gwalior State, under the patronage of Maharaja Madho Rao Scindia. The bank had been the Dukan Pichadi, a small moneylender, owned by the Maharaja. The new bank's first manager was Jall N. Broacha, a Parsi. In 1985, SBI acquired the Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its , the State Bank of Travancore, already had an extensive network in Kerala The new logo of the SBI was actually the aerial view of the Kankaria Lake in Ahmedabad, Gujrat on 1 October 1971 and was designed by Shekhar Kammat. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline the group's operations

Functions of SBI Bank The functions of SBI can be grouped under two categories, viz., the Central Banking functions and ordinary banking functions. A. Central Banking Functions: The SBI acts as agent of the RBI at the places where the RBI has no branch. Accordingly, it renders the following functions: (1) Banker to the Government: The SBI functions as the banker to the central and state governments. It receives and pays money on behalf of the governments. Especially it renders the following functions as directed by the RBI in this regard. (a) Collection of charges on behalf of the government e.g. collection of tax and other payments (b) Grants loans and advances to the governments (c) provides advises to the government regarding economic conditions, etc., (2) Banker's Bank: Commercial Banks have s with SBI. When the banks face financial shortage, the SBI provides assistance to them as it is considered a big brother in the banking industry. It discounts the bills of the other commercial banks. Due to the functions on this line the SBI is considered in a limited sense as the banker's bank. (3) Currency Chest: The RBI maintains currency chests at its own offices. But RBI Offices are situated only in big cities. SBI, buy its wide network of branches operate in urban as well as rural areas. RBI therefore, in such places keeps money at currency chests with SBI. Whenever needs arise, the currency is withdrawn from these chests under proper ing and reporting to RBI. Presently RBI entrust currency chest to other Public Sector Banks and a few Private Sector Banks also. (4) Acts as Clearing House:

In all the places, where RBI has no branch, the SBI renders the functions of clearing house. Thus, it facilitates the inter bank settlements. Since, all the banks in such places have s with SBI; it is easy for the SBI, to act as clearing house. (5) Renders Promotional Functions: State Bank of India also renders various promotional functions. It provides various facilities to the following priority sectors: (i) Agriculture (ii) Small - Scale Industries (iii) Weaker sections of the society (iv) Co-operative sectors (v) Small - traders (vi) Unemployed Youth (vii) Others. In this respect SBI is like any other commercial bank. B. General Banking Functions Besides the above specialized functions, the SBI renders the following functions under Section 33 of the Act. 1. Accepting deposits from the public under current, savings, fixed and recurring deposit s. 2. Advancing and lending money and opening cash credits upon the security of stocks, securities, etc. 3. Drawing, accepting, discounting, buying and selling of bills of exchange and other negotiable instruments. 4. Investing funds, in specified kinds of securities. 5. Advancing and lending money to court of wards with the previous approval of State Government. 6. Issuing and circulating letters of credit. 7. Offering remittance facilities such as, demand drafts, mail transfers telegraphic transfers, etc. 8. Acting as , executor, trustee or otherwise. 9. Selling and realizing the movable or immovable properties that come into the banks in satisfaction of claims. 10. Transacting pecuniary agency business on commission stocks. 11. Underwriting of the issue of authorized shares debentures, and other securities. (This function is done through subsidiaries now) 12. Buying and selling of gold and silver. 13. It operates Public Provident Fund s for the general public. 14. It operates Non-Resident External s and Foreign Currency s. 15. Providing Factoring service (through subsidiaries). 16. Provides shipping finance. 17. Promotes Export through Export Credit. Provides Project Export Finance. 18. Provides Merchant Banking Facilities. 19. Provides specialized services like "Global Link Services ". 20. Promotes housing finance through "SBI Home Finance Ltd ".

21. Offers community services Banking. It provides grants to many socially relevant research projects undertaken by various universities and academic institutions in the country. 22. Provides Leasing Finance and Project Finance Facilities. 23. Participates in Lead Bank Scheme. 24. The State Bank may with the sanction of the Central Government, enter into negotiations for acquiring the business of any other Banking Institutions.

Introduction of Canara Bank Canara Bank is an Indian state-owned bank headquartered in Bangalore, Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country. The government nationalized the bank in 1969. As of November 2015, the bank had a network of 5784 branches and more than 9153 ATMs spread across India. The bank also has offices abroad in London,Hong Kong, Moscow, Shanghai, Doha, Bahrain, South africa, Dubai, and New York. Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906.[2] The bank changed its name to Canara Bank Limited in 1910 when it incorporated. Canara Bank's first acquisition took place in 1961 when it acquired Bank of Kerala. Bank of Kerala had been founded in September 1944 and at the time of its acquisition on 20 May 1961 had three branches. The second bank that Canara Bank acquired was Seasia Midland Bank (Alleppey), which had been established on 26 July 1930 and had seven branches at the time of its takeover In 1958, the Reserve Bank of India had ordered Canara Bank to acquire G. Raghumathmul Bank, in Hyderabad. This bank had been established in 1870, and had converted to a limited company in 1925. At the time of the acquisition G. Raghumathmul Bank had five branches.[5] The merger took effect in 1961. [4] Later in 1961, Canara Bank acquired Trivandrum Permanent Bank. Trivandrum Permanent Bank had been founded on 7 February 1899 and had 14 branches at the time of the merger. Next, Canara Bank acquired four banks in 1963: the Sree Poornathrayeesa Vilasam Bank, Thrippunithura, Arnad Bank,Tiruchirapalli, Cochin Commercial Bank, Cochin, and Pandyan Bank, Madurai. Sree Poornathrayeesa Vilasam Bank had been established on 21 February 1923 and at the time of its acquisition it had 14 branches. Arnad Bank had been established on 23 December 1942 and at the time of its acquisition had only one branch. Cochin Commercial Bank had been established on 3 January 1936, and at the time of its acquisition had 13 branches The Government of India nationalised Canara Bank, along with 13 other major commercial banks of India, on 19 July 1969. In 1976, Canara Bank inaugurated its 1000th branch. In 1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue. This brought Canara Bank some 230 branches in northern India. In 1996, Canara Bank became the first Indian Bank to get ISO certification for "Total Branch Banking" for its Seshadripuram branch inBangalore. Canara Bank has now stopped opting for ISO certification of branches.