Banks are the biggest money holders of the country.A country with a population of more than 130 crores cannot run its economy with a limited number of banks.There’s a requirement of a number of banks in order to meet the requirements of the people.Maximum number of transactions in the country takes place in the banks only.The total population of the country is increasing day by day and so as the number of banks in the right proportion.There are a number of Banks in India, out of which around 80% banks are some have their origin in India and some have their headquarters outside India.Out of all those, 80% banks are public sector banks.Public sector banks defines the ownership of Government and Private Banks defines the ownership of some private company.
There are n number of Banks in India out which State Banks, Axis Bank, HDFC Bank, ICICI Bank etc have the maximum number of customers, Transactions, and proceedings. The factors affecting the popularity and more usability of a bank includes the higher rate of interest, customer service etc.Let us have a look at the best banks in India which have a much broader customer base and the assets.
Top Best Banks In India in 2017
Being one of the largest economies in the world, Banking has been one of the most important proceedings in a country.There are so many schemes daily being introduced in the country to promote banking operations and make it accessible to 100% population of the country.Reserve Bank Of India heads all the banks in the country.All the ongoing proceedings in the country are decided by the RBI.Let us find out some important pieces of information about the banks.Here’s the list:
State Bank Of India
The largest Indian Bank which has the maximum number of branches in the country as well as abroad.The Bank has many sub-branches as well which serve the maximum number of consumers in India.The Bank was nationalized in the year 1955.The total assets of the bank are much more than any other bank.There are more than 14000 branches across the globe and the assets of the bank are worth ₹20.480 Trillion.
HDFC was established as Housing Development Finance Corporation in the year 1994.The operations of the bank started in 1995 after it was scheduled as a commercial bank.The bank has served well since then and still continues to bring in more and more costumers with its phenomenal services.HDFC is the largest bank in India in terms of assets.The total assets of the bank are estimated to be around $66.7 Billion.The Current CEO of the bank is Aditya Puri.
The Bank was founded in 1993 and the headquarters resides in Mumbai, Maharashtra. It has more than 3000 branches in India.The bank was an investment of some prominent international companies.The total worth of the bank is $54 Billion.The bank is known for its hassle free services throughout the country.The bank has one of the maximum numbers of ATMs in the country.
Punjab National Bank
One of the oldest banks in the country, the establishment of the Punjab National Bank goes back to 1894, more than 100 years from now.This is one of the oldest public sector banks in India.The total assets of the bank are more than $80 Billion.The Bank has more than 5200 branches across the country and more than 6000 ATMs nationwide.The Chief Executive Officer of the bank is Usha Ananthasubramanian.
ICICI stands for Industrial Credit and Investment Corporation of India and it was established in 1994.It is one of the best banks in the country with assets worth more than $99 Billion.Chanda Kochar works as the CEO of the bank.The Bank has been operational in 18 countries as of now.The Bank also acquired Bank of Rajasthan in the year 2010.ICICI has adopted a Go Green initiative in which it has started most of its operations in electronic form.Even the bank statements are sent via e-mails.
Bank Of Baroda
Bank of Baroda is one of the largest public sector banks in India. The services of the bank have always been satisfying and par excellence. The bank was set up in 1908 and the current CEO of the bank is Mr. P. S. Jayakumar.The total assets of the bank are somewhat closer to $70 Billion. The bank has more than 5000 branches and over 8000 ATMs including the ones outside India.
Bank Of India
Bank of India is one of the major public sector banks in India.The bank became government owned after the nationalization of Banks in 1969, though the bank was founded much before that in 1906.Chairperson of Bank of India is Selwyn O. Rego.The total assets of the bank are around $96 Billion as of the 2015 data.There are 4,963 branches across the nation and more than 2000 ATMs nationwide.
Like other major public sector banks, Canara Bank is also state owned and was set up in the year 1906 by Bubba Rao.The headquarters of the Bank reside in Bengaluru, Karnataka. The Bank provides hassle free service to its customers, though the number of branches and ATMs are very less as compared to other state-owned banks in the country as per the data of 2015.But the Bank has revolutionized its services and spreads its hands more to cover more areas.As per the data of 2016, the Bank has more than 5600 Branches in the country and more than 10000 ATMs across the nation.The total assets of the bank $70 Billion which are set to increase in the coming years.
IDBI stands for Industrial Development Bank Of India and was established in the year 1964. It is a Public sector bank. The total assets of the bank reach to about $45 Billion. There are more than 1200 branches across the country. Investment Banking and Agro-Loan facilities are the USP of the bank. Mr. Kishor Kharat is the Chief Executive Officer of the Bank.
Union Bank Of India
UBI is one of the largest government-owned banks of India owning around 64% shares of the bank. The bank was founded in the year 1919, even before the Banking Act of 1935. Though it is much old, the assets are much lesser than other banks introduced even after its establishment. The total assets of the Bank are around $14 Billion Dollars. The bank has around 4500 branches in the country and plans to spread its branches even more. The Current CEO of the bank is Arun Tiwari.
So, guys this was some very basic information about the Top Banks in the Country, which have the maximum asset values, not taken in order.This article was just to make you aware of the Best Banking Institutions in India.We just hope to satisfy you with whatever we write and you can also help us improve by giving the feedback to our written posts.If you loved our writings, do share it with your friends.