The Industrial Credit and Investment Corporation in India Finance Essay

ICICI (The Industrial Credit And Investment Corporation in India) bank is the 4th largest bank in India incorporated in 1994 which went public in 1997. Earlier in 1955,ICICI came in existence due to World Bank initiative and the government.After that,ICICI announced their Banking subsidiary ICICI bank to overcome their banking operations like deposits,car loans,credit cards.Today ICICI bank has around 1700+ branches and 4271+ Atm's in India and covers 19 countries globally

CORE BUSINESS:-

Banking and financial services are the core businesses of ICICI bank which includes corporate, International & retail sector.

PRODUCT LINES:-

Personal banking: - It includes Accounts & Deposits,Roaming current account, Fixed Deposits,Recurring deposit, Housing loan,Commercial,Debit & Credit cards,Mutual funds ,Car loans, Education loan,Personal loan,Demat services,Mobile banking,Wealth Management,Online services International & NRI banking:-Money transfer,Bank accounts,Investment,Home loans, Insurance, Loans against FD, Foreign Exchange services Corporate Banking:- Commercial Banking , Global markets ,Investment Banking , Structured finance,International finance , Technology finance, Capital markets and Custodial services Business Banking:- Transaction Banking & CMS, Business loans & Trade services, Advisory services Rural and agri banking:- Agri corporate, Agri traders & processors and Micro Banking

MILSTONE CHANGES:-

In 2000,ICICI bank was merged with Bank of Madura(BoM) In 2001,ICICI personal financial ltd & ICICI capital services ltd were merged to ICICI bank In 2003,ICICI launched its subsidiaries in UK & Canada. In 2004,ICICI opened its office in Bangladesh to grab the exclusive trade between the 2 countries In 2005,ICICI acquired Investitsionno-Kreditny bank(IKB) a Russian bank. In 2007,ICICI combined Sangli bank which was situated in Maharshtra for covering rural areas Recently, ICICI bank acquired Bank of Rajasthan in a non-cash deal growing former's network by 25%

SENIOR MANAGEMENT:-

ICICI bank is managed by extreme experience holders like Chairman K.V.Kamath,MD & CEO Chanda Kochhar ,Deputy MD Sandeep Bakshi , NS Kannan EX-director & CFO.

MARKET INFORMATION:-

Is is listed ON NSE and BSE. It's American Depositary Receipts(ADR) are listed on the NYSE India's 2nd largest bank with an assest value of Rs.3774 billion On March 31st 2010,ICICI bank is reported to have 17 subsidiaries.

ESTABLISHMENT:-

Axis Bank was incorporated in the year 1993 as 'UTI Bank Ltd' which provides Corporate & Retail Banking products & was the first private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai

PROMOTERS:-

Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 Crore, LIC - Rs. 7.5 Crore and GIC and its four subsidiaries contributing Rs. 1.5 Crore each SUUTI - Shareholding 27.02%Erstwhile Unit Trust of India was set up as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment

CORE BUSINESS:-

The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence. The principal activities of the bank include commercial banking which encompasses merchant banking, direct finance, infrastructure finance, venture capital fund, advisory, trusteeship, treasury and other related financial services.

PRODUCT LINE:-

Comprehensive portfolio of banking services including Corporate Credit, Retail Banking, Business Banking, Capital Markets, Treasury and International Banking.The Product line of Axis bank has a variety of plans for everyone like Saving Account for Women, Prime Saving Account, Senior Citizens Saving Account, Priority Banking, Corporate Salary Account, Trust /NGOs Saving Account, Resident Foreign Currency Account, Online Trading Account, Current Account, Term Deposits, Locker Facilities, NRI Services, Depository Services, Financial Advisory Services, Wealth Management Services, Insurance Solutions - Life and General, Retail Loans, Credit Loans, Travel Currency Cards, Remittance Cards &Gift Cards

MILESTONE CHANGES:-

Dec-93 Registered office at Ahmedabad; Head office at Mumbai Apr-94 First branch of UTI Bank inaugurated at Ahmedabad by Dr. Manmohan Singh, Hon'ble Finance Minister, Government of India. Sep-98 UTI Bank goes public Sep-99 Cash management services (CMS) launched, Co branded credit card Launched Apr-00 Bank launches its Internet banking module, i-Connect Retail loansintroduced for the first time by the Bank. Dec-05 UTI Bank wins International Financing Review (IFR) Asia 'India Bond House' award for the year 2005 Apr-06 UTI Bank opens its first international branch in Singapore July-07 UTI Bank re-brands itself as Axis Bank Mar-08 Axis Bank launches Platinum Credit Card, India's first EMV chip based Card SENIOR MANAGEMENT:-P. J. Nayak Chairman & Chief Executive Officer, M.M. Agrawal Executive Director (Corporate Banking)Hemant Kaul, Executive Director (Retail Banking) LISTING ON EXCHANGES:-The bank is also registered on NSE, OTCEI, London Stock Exchange, and BSE. The bank has been successful in adapting to the changing environment due to which they have a good market share despite of tough competitions

ESTABLISHMNET:

HDFC Bank Ltd. is a major Indian financial services company based in Mumbai, incorporated in august 1994.It was among the first companies in India to receive an "in principle" approval from the Reserve Bank of India to set up a bank in the private sector. HDFC Bank began their operation in 1995 with a simple mission to be a "World class Indian bank". HDFC Bank has a very strong distribution network. It has its headquarters in Mumbai. It has a network of 1725 branches spread in 771 cities across India. The Bank also has 3898 networked ATMS across these cities. It operates in the following segment: 1) Personal Banking-It deals with all the financial dealings between a commercial bank and an individual. 2) Wholesale banking-Deals with all sorts of financial dealings with financial institutions, corporate, medium and small scale enterprises, trust and also the government sector. 3) NRI Banking-Consist of personal banking relations with the NRI'S. CORE BUSINESS:-Their business philosophy is based on four core values-customer focus, operational excellence, product leadership and people. This is the reason because of which they are committed to hire, develop, motivate and retain the best people in the industry. HDFC Bank is specialized in providing banking and other financial services to corporate and institutional clients .The companies services include electronic banking products and commercial transactions. It also provides treasury services, retail banking and capital market infrastructure. PRODUCT LINE:- It has a bunch of product and services to meet the need of the people such as accounts &deposits, loans, investments & insurance , forex & payment services, cards and customer center. MILESTONE CHANGES:- :2000: HDFC Bank was merged with Times Bank. This was the first merger of two private banks in India. As per the scheme of amalgamation which was approved by the shareholders of both the banks and the RBI, shareholders of times bank received 1 share of HDFC Bank for every 5.75 shares of Times Bank. 2008:acquired Centurion Bank Of Punjab taking its total branches to more than 1000. The amalgamation added significant value to HDFC Bank in terms of increased branch network, geographic research, customer base and a bigger pool of skilled power. HDFC Bank is among one of those banks that recognizes the importance of good corporate governance, which is generally accepted as a key factor in attaining fairness for all the stakeholders of the company and achieving organizational efficiency. LISTING ON EXCHANGES:-The bank is listed on the Bombay Stock Exchange(BSE) And The National Stock Exchange of India Limited(NSE).It is one of the first Indian bank to be listed on New York Stock Exchange(NYSE) in 2001 .The bank also got listed on the Luxembourg Stock Exchangein 2008. They make use of their up- to- date technology, along with their expertise to create a competitive advantage and build market share. Vision: "To be the trusted partner in progress by leveraging quality human capital and setting global standards of excellence to build the most valued financial conglomerate." Establishment: The IDBI Bank ltd ,originally known as Industrial Development Bank of India (IDBI), was formed on 1st July, 1964 under an Act of Parliament as a whole owned subsidiary of Reserve Bank of India. Its main objective was to provide credit and other facilities for the development of industries in India. The ownership was transferred to Government of India (GOI) on 16th February 1976. GOI's stake was reduced initially to 72 % and then 58.1 % in 1995 and finally to around 53 %. Core Business: IDBI has played a major role in promoting the industrial growth by financing medium and long term projects. Over the years the bank has grown its basket of products and services to cover almost the entire spectrum of industrial activities. IDBI provides financial assistance, in rupee as well as foreign currencies, for expansion, modernization and diversification of companies. Milestone changes: On 1st October 2004 IDBI was converted into a banking company (IDBI Bank ltd.) to diversify into banking activities while continuing with its role as a Development Financial Institution. On 1st October 2005 IDBI bank ltd. was merged with its parent company IDBI. On 3rd October 2006 The United Western Bank ltd was merged with IDBI. In 2006 IDBI announced its foray into Life Insurance business (48 % equity) along with Fortis (26 %) and Federal Bank (26 %).

Product Lines:

Corporate Banking: It includes Project Finance, Film Finance, Infrastructure Finance, Foreign Currency loans, Leasing, Carbon Credit business, Working Capital finance, Direct Discounting of bills, Finance for Overseas Acquisitions Products. Retail Banking: It includes various types of bank accounts, mobile banking, internet banking, ATM banking, phone banking, bill payments, various types of loans, various card products/services and investment advisory services. Privilege Banking: It includes preferred customer banking and PowerPlus account.

Agri-Business and Micro Finance

SME Banking

Senior Management: IDBI is a board managed institution with the Chairman & Managing Director along with two Deputy Managing Directors having the responsibility of day to day management.

Market Information :

It is currently the 10th largest development bank in the world in terms of reach. It is the country's 4th largest bank in overall ratings. It is listed in NSE (last traded price : 117.75) and BSE (last traded price :117.60)

ESTABLISHMENT:-

The State bank of India, the country's oldest Bank, traces its heritage two centuriesA ago. Government of India brought state bank of India act in 1955, which gave RBI provision to acquire 60% stake in Imperial bank of India, whose name was then changed to State bank of India, thus making it the first nationalize bank of India. In 2008, RBI's stake in SBI was taken by government.

CORE BUSINESS:-

Banking is the core business of SBI which includes corporate, International & domestic banking.

PRODUCT LINES:-

Personal banking: - It includes Term deposit, Recurring deposit, Housing loan, Car loan, Education loan, Personal loan and credit card, debit card. International banking:-Trade finance, Correspondent banking, Merchant banking, Project export finance, Exporter gold card, offshore banking. Corporate banking:- Working capital finance, Project finance, Deferred payment guarantees, Corporate term loans, Loan Syndication, Financing Indian firms overseas subsidiaries or JVs. SME(small and medium enterprises): retail trade finance, rice mills plus, auto loan etc

Agricultural banking, Government business

MILSTONE CHANGES:-

SBI computerized its branches in 1990. And Launched state bank of India (California) as subsidiary in 1982.In 1990, SBI established an offshore bank, State Bank of India (Mauritius). To remain competitive, it began the process of implementing largest centralized core system in 2002, ever undertaken by banking industry. In March 2004, SBI announced that customers from over 9000 branches across India will be provide with "anywhere banking" facility in next two years. Expansion in insurance and investment sector by launching SBI life insurance, SBI mutual fund, SBI capital markets ltd.

MARKET INFORMATION:-

Exchange listed:- NSE and BSE, London stock exchange, Financial instruments:- monetary instrument eg. credit cards

DECISION THAT AFFECTED BANKING SECTOR:-

Government owned banks controlled over 90% of the banking sector assets before 1991.Banks business were under stringent administrative control like interest rates on deposits and lending. More private banks then enter into the market resulting improved competition. Public sector banks got more autonomy. There has been significant increase in communication and information technology in the quality of banking service after the liberalization. Focus was on improving internal controls at banks, more market base capital adequacy norms and to resolve the problem of Non- performing Assets. Today all banks have to meet frequent reporting requirements, inspection and audits.

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