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 registered office in Vadodara. In 2014, it
was the second largest bank in India in terms 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 Germany.
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 joint-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 affiliates 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, Indias 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 user 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 account 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 joint 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
BMRCLs 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 latters 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 terms 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 terms.
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 (196491), in
catalyzing broad based industrial development in India in keeping with its
Government-ordained
development
banking
charter.
Some of the institutions built with the support 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 administrative 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,
registering a y-o-y growth of 10.01%. Deposits of the Bank rose to ` 48,872 crores
registering a y-o-y growth of 10.58%. Advances rose to ` 32,443 crores registering
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 accounts.
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 joint 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 joint 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 passed 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 affiliate, 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 accounts 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
accounting 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 accounts 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 accounts.
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 administrator, 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 Accounts for the general public.
14. It operates Non-Resident External Accounts and Foreign Currency Accounts.
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.