What Is A Bank ? A bank is a financial institution where you can deposit your money. Banks provide a system for easily transferring money from one person or business to another.
The banking regulation act,1949,Section(b) defines banking “as accepting for the purpose of lending and investing of deposits of money from public , repayable, on demand or otherwise withdrawable by cheque , draft , order or otherwise.
Functions Of Banks
Remittances (A remittance is a transfer of money by a foreign worker to his or her home country.)
Foreign Exchange Business
Types of Banks
State Bank Of India State Bank of India (SBI) is the largest bank in India. Founded in 1806 making it the oldest commercial bank in the Indian Subcontinent. The State Bank Group, with over 16000 branches, has the largest branch network in India.
Chairman - Om Prakash Bhatt
Products/Services Being Offered By SBI
ICICI Bank ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank by market capitalization and second largest overall in terms of assets. Founded in 1955 (as Industrial Credit and Investment Corporation of India). The Bank also has a network of 1,520 branches
Chairman - K. V. Kamath
Headquarters - ICICI Bank Ltd.,ICICI Bank Towers,Bandra Kurla,Mumbai, India.
3 . Investment & Insurance(ICICI Bank Tax Saving Bonds,Government of India Bonds, Investment in Mutual Funds,Initial Public Offers by Corporates,Investment in "Pure Gold“,Foreign Exchange Services,Senior Citizens Savings Scheme, 2004) 4 . NRI Services(MoneyTransfer-Direct Debit (ACH), Cheque Lock Box,Web Wire Transfer, Donate2India,Wells Fargo,Correspondent Banks, Wire Transfer / SWIFT details,Foreign Currency Cheque.Accounts-Fixed Accounts,Saving Accounts & Special Accounts.Insurance-General & Life.Investments-Offshore Bank Deposits & Portfolio Investment Scheme)
Axis Bank Axis Bank, previously called UTI Bank, was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. Axis Bank is one of the Big Four Banks of India with State Bank of India, ICICI Bank and HDFC Bank. Headquarters Mumbai, India.
3. Loans(Home Loan,Car Loan,Personal Loan,Loan Against Shares,Loan Against Property,Loan Against Security,Study Loan & Consumer Loan) 4. Cards(Credit Cards,Debit Cards & Prepaid Cards) 5. Investments(Mohur Gold,Online Trading, Mutual Funds, Demat Account,A Smile Solution & Kal Bhi,Aaj Bhi) 6. Insurance(Life Insurance,Health Insurance, Personal Accident,Home,Critical Illness Motor Insurance,Jewellery Insurance,Travel Companion & Business Advantage)
7. Payment Transfers(Bill Pay,Electronic Clearing Service & Tax Payments) 8. Other Services(Mobile Refill,Locker,Online Shopping,IPOSmart & E-Statement)
HDFC Bank HDFC Bank Ltd. is a commercial bank of India. The Bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India. Founded in 1994. HDFC Bank has 1,412 branches.
Chairman – Mr. Deepak S Parekh
Headquarters - Mumbai, India
Products & Services Personal Banking(Accounts & Deposits,Loans, Cards,Investments & Insurance,Forex Services, Payment Services,HDFC Bank Imperia / Preferred / Classic Banking,Access Your Bank & Customer Centre) NRI Services(Accounts & Deposits,Remittances, Investments & Insurance,Loans,Payment Services,Access your bank & Customer Centre)
HSBC Bank Hong Kong & Shanghai Banking Corporation Bank I t is both the world's largest banking group and the world's 6th largest company according to a composite measure by Forbes magazine. Founded in Hong Kong (1865) HSBC Holdings plc is a public limited company.
Chairman - Stephen Green
Products & Services Personal Banking 2. Business Banking 3. Corporate Banking4. Interest Rates, Service Charges and Fees 5.HSBC Premier6.Private Banking7. Corporate Sustainability
Personal Banking 1 . Credit Cards 2 . Loans 3 . Bank Accounts 4 . NRI Services 5 . Insurance 6 . Investments & Financial Planning 7 . Internet and Self Service Banking 8 . Special Offers and Discounts
Business Banking 1 . Business Banking Services 2 . Global Trade Solutions 3 . Cash Management 4 . Foreign Exchange Services 5 . Business Current Accounts 6 . Business Loans and Overdrafts 7 . Self Service Banking
Corporate and Institutional Banking 1 . Corporate Banking 2 . Treasury and Capital Markets 3 . Equities and Global Investment Banking 4 . Institutional Banking 5 . Global Payments and Cash Management 6 . Trade and Factoring Services 7 . HSBC Securities Services