Banks are economy holders of a country. Without them, no one can imagine their lives. They have great influenced us, and our whole life, just revolves around them. In India, there are many banks, but the top secure, smart and professional ones are listed below. Starting from the bottom we have:
1. Indian Bank
The bank is owned by government of India, and was a result of Swedeshi movement when the britishers were ruling us, dated 15 august 1907. It is one of the prestigious banks, and currently has 19K dedicated staff, having two foreign branches, in Singapore and Colombo. Going towards statistics, it is considered as the tenth top bank in India by Business Today and KPMG, a global consultancy. The Indian Bank is today has deposits worth Rs 105,804 crore and an operating profit of Rs 3,292 crore.
2. Corporation Bank
It is regarded as among the top banks in India, and there are many reasons. It was nationalized in 1980s and was the second public sector bank to enter capital market. There were many services, in which it entered first, like cash management, gold loan m-banking etc. The bankover-subscribed Initial Public Offer (IPO) 13 times in 1977 and is today worth with deposits of Rs 116,747 crore and an operating profit of Rs 2,622 crore.
3. Andhara Bank
It is a leading bank in India, growing continuously, and currently having about 1611 branches in India, and two outside the country. It was founded by great freedom fighter DrBhogarajuPattabhiSitaramayya, and completed its registration on November 28, 1923. The bank has paid upRs 100,000 as a capital and an authorized capitalof Rs 10 lakh to start up. Today, it has deposits worth Rs 92,156 crore and operating profit of Rs 2,413 crore thus making it the eight top banks in India.
4. Canara Bank
In 1906, late AmmembalSubbaRaoPai founded this bank, naming it as Canara Bank Hindu Permanent Fund. But after 4 years, it became a limited company, as Canara Bank Ltd, but again in 1969, after nationalization, it was changed to Canara bank. At current stage, the bank has over 3,000 network branches across India and has deposits worth Rs 293,973 crore and operating profit worth Rs 6,107 crore.
5. Punjab National Bank
It is the third largest bank in india, having deposits worth Rs 312,899 crore and an operating profit of Rs 9,056 crore. Also, it is the second largest state owned commercially trusted bank, having 5000 branches in about 764 cities. The foreign branches are situated at Hong Kong, Dubai and Kabul, and representative offices in Almaty, Dubai, Oslo, and Shanghai. The refistration of the bank was done in Lahore, Anarkali bazaar in May 19, 1894.
6. State Bank of Hyderabad
Its previous name was Hyderabad state bank and was established in 1942, during the rule of last NizamMir Osman Ali Khan. In 1956, it was named as state bank of Hyderabad, and merget its capital to reserve bank of India. Now it is subsidiary of SBI. it was a made subsidiary when the act was passed in 1959. At present the deposits are worth Rs 88,628 crore and an operating profit is worth Rs 2,319 crore.
7. Yes Bank
The bank was found in recent years, in 2003-04 by Ashok Kapoor and RanaKapoor. It has its headquarters in Mumbai. The bank is exclusively involved in corporate and institutional banking, branch banking, financial markets, corporate finance, investment banking, business and transaction banking, and wealth Management business lines.
Yes Bank has today deposits of Rs 45,939 crore and an operating profit: Rs 1,190 crore.
8. Axis Bank
After 1994, when government, allowed the establishment of private bank, this leading bank came into existence. Formally known as UTI bank, the bank was promoted by various capital firms jointly like The New India Assurance Company, the Administrator of the Specified Undertaking of the Unit Trust of India, General Insurance Corporation, Life Insurance Corporation of India, The Oriental Insurance Corporation, National Insurance Company and United India Insurance. Currently, it has wide range of branches and ATMs, 1095 and 4846 respectively. Deposits are worth Rs 189,238 crore and an operating profit of Rs 6,416 crore.
9. HDFC Bank
This bank was also a result of 1994 allowance of private banks. Since then, it has become major financial firm in the country. The success it has attained is beyond comparison. The bank was promoted by housing development finance corporation, having deposits worth 208,586 crore and an operating profit: Rs 7,725 crore.
The network of the bank is vast having over 1,725 branches and 4,232 ATMs in 779 cities across the country linked online. These are the reasons, why it is second in the race.
10. Bank of Baroda
The bank’s deposits are worth Rs 305,439 crore and making an operating profit or Rs 6,982 crore, making it the top bank of India. The bank was founded by, Sir SayajiraoGaekwad III, the Maharaja of Baroda on July 20, 1908. The government of India nationalized it on July 19, 1969.Today, the bank has over 3,000 branches and offices with over 1000 ATMs across the country.