United Bank of India,Oriental Bank of Commerce,South Indian Bank,Bank of India & Bank of Maharashtra are in race for the coveted India’s Most Valuable Public Bank of the year 2014 at 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014
United Bank of India,Oriental Bank of Commerce,South Indian Bank,Bank of India & Bank of Maharashtra are in race for the coveted India’s Most Valuable Public Bank of the year 2014 at 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014
In what is perceived to be a change catalyst or a game changer, illustrious Network 7 Media Group’s ( www.network7mediagroup.in ) Indian Affairs Media outfit (www.indianaffairs.tv ), Asia’s biggest analytical news media will be hosting the much awaited annual affair in its 5th year, the 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014 ( www.ilc2014.in )in the commercial capital of india in Mumbai on Friday, 18th July 2014 under a powerful theme on “Progress or Perish” to be debated, analyzed & addressed by Asia’s most promising voices & industry stalwarts on a variety of subjects ranging from politics to cultural, economics to social. After being highly successful in last 4 editions, the much awaited India Leadership Conclave 2014 is expected to be be attended by more than 250 business tycoons, political leaders, policy makers, social reformers, diplomats, media professionals followed by the Indian Affairs Indian of the year Awards in various categories in addition to regular categories thrown to public for voting with a credible nomination methodology.
India’s Most Valuable Public Bank.
1. United Bank of India. ( Code 46)
2. Oriental Bank of Commerce. (Code 47)
3. South Indian Bank. (Code 48)
4. Bank of India. ( Code 49)
5. Bank of Maharashtra. ( Code 50)
United Bank of India
United Bank of India Ltd is a public sector banking institution with branches in 28 States and in 4 Union Territories in India. The Bank is currently wholly-owned by the Government of India. Their business is principally divided into retail banking, corporate/ wholesale banking, priority sector banking, treasury operations and other banking services such as agency functions for insurance and mutual fund distribution, pension and tax collection services. The Bank’s retail banking business provides financial products and services to their retail customers. They provide loans and advances for housing, trade, automobiles, consumer durables, education, personal loans and other retail products. They have various deposit products, such as current, savings and term deposits for their customers. The Bank provides commercial banking products and services to corporate customers, including mid-sized and small businesses and government entities. Their loan products include term loans to finance capital expenditure of assets across various industries as well as short-term loans, cash and export credit and other working capital financing and bill discounting facilities. They also provide credit substitutes, such as letter of credit and letter of guarantee. The Bank offers direct financing to farmers for production and investment, as well as indirect financing for infrastructure development and credit to suppliers of agricultural inputs. They also offer a wide range of general banking services to their customers including debit cards, cash management, remittance services and collection services They distribute third party products such as life and non-life insurance policies and mutual funds on an agency basis. Also, they act as agent for various state governments and the Government of India on numerous matters including the collection of taxes and payment of salary and pension. The Bank delivers their products and services through their branches, extension counters, ATMs, internet banking and tele-banking. They sponsor four Regional Rural Banks in collaboration with the Central Government and the state governments of West Bengal, Assam, Manipur and Tripura. The Bank has a pan India presence through 1,505 branches and 270 ATMs in 28 States and in 4 Union Territories in India as of January 31, 2010 and 1 representative office in Dhaka, Bangladesh. In particular, we have a large presence in eastern and north eastern regions with 973 and 258 branches respectively. Multiple delivery channels and large distribution infrastructure has resulted in giving us access to a large customer base spread across India particularly in eastern and north eastern regions. United Bank of India Ltd was incorporated on October 12, 1950. The Bank was formed with the amalgamation of four banks, namely Comilla Banking Corporation Ltd, Bengal Central Bank Ltd, Comilla Union Bank Ltd and Hooghly Bank with the bank. In the year 1964, the Bank set up a Staff Training college at Kolkata. The Bank was one of the 14 major banks which were nationalised on July 19, 1969. After nationalization, the Bank expanded their branch network in a big way and actively participated in the developmental activities, particularly in the rural and semi-urban areas in conformity with the objectives of nationalization. In the year 1970, they set up mobile branches. In the year 1973, Hindustan Mercantile Bank Ltd merged with the Bank and in the year 1976, Narang Bank of India merged with the Bank. In the year 1980, the Bank was appointed as convenor of State Level Bankers’ Committee in West Bengal, Tripura and Manipur. In the year 1993, the Bank brought their first branch under total branch mechanism. In the year 2000, they rolled out their first CBS branch. In the year 2007, the Bank set up United Bank Socio – Economic Development Foundation Trust for rendering assistance to the weaker and under priviledge sections of the society. They set up their first Rural Development & Self Employment Training Institute for providing residential training to small farmers and unemployed youth free of cost. In the year 2009, the Bank achieved 100% CBS for all their branches. As of January 31, 2010, their domestic branch network of 1,505 branches comprised 622 rural, 262 semi urban, 333 urban and 288 metropolitan branches. In March 25, 2010, the Bank opened their 1530 branch at Salt Lake under Kolkata (North) Region.
Oriental Bank of Commerce
Oriental Bank of Commerce (OBC) was started in Lahore, Pakistan in 19th February of the year 1943, made a modest beginning under its Founding Father, Late Rai Bahadur Lala Sohan Lal. OBC is a public sector bank engaging in monetary intermediation of commercial banks, saving banks and discount houses. In 1947, the Bank had to face the holocaust of partition. Branches in the newly formed Pakistan had closed down and the Registered Office had shifted from Lahore to Amritsar. In the year 1951, the registered office was relocated to Delhi. It was nationalized in April of the year 1980. In the year 1992, the merchant banking division of the bank was set up and the bank was authorized to act as a category-I merchant banker by SEBI. OBC launched the scheme christened ‘The Comprehensive Village Development Programme’ on the auspicious day of Baisakhi, the 13th April of the year 1997 at three villages in Punjab namely Rurki Kalan (Distt. Sangrur), Raje Majra (Distt. Ropar) and Khaira Majha (Distt. Jaladhar) and two villages in Haryana, namely Khunga (Distt. Jind) and Narwal (Distt. Kaithal). Two Banks namely Punjab Co-operative Bank Ltd and Bari Doab Bank Ltd were amalgamated with the bank in the same year 1997. In the year 1998, the bank had joined hands with Citibank to launch OBC co-branded credit card. OBC had set up special branch and asset recovery branch, one each at Delhi and Mumbai in the year 1999. The Bank had opened specialised branch for women entrepreneurs in the year 2002 and also in the same year OBC made tie up with Corporation Bank to share each other’s ATM network. For the purpose of Centralised Banking Solution (CBS, OBC had joined hands with Infosys Technologies Ltd and Wipro Ltd in the year 2003. during the same year 203, the Bank and Small Industries Development Bank of India (SIDBI) had agreed to work on projects in the field of small-scale, infrastructure and service areas. As per the Bank’s IT Plan, the Bank had implemented ‘Centralised Banking Solutions (CBS)’ with effect from March 2004. In the identical year 2004, OBC made tie up with New Holland Tractors and the Global Trust Bank was merged with the bank. The bank came out with a second public issue in 2005 whereby government holding reduced to 51%. During the year 2006, the Bank had signed the Memorandum of Understanding (MOU) with the IL & FS Investment Securities Ltd, for providing Online / Offline Share Trading facility for its customers. OBC had launched its Internet Banking Services (iBanking) in all CBS Branches of the Bank during November of the year 2006. In 2007, OBC had joined hands with Escorts Ltd, a tractor manufacturer for providing retail tractor finance to farmers. As of March 2007, the bank had signed the MOU with IDBI Capital Market Services for providing online share trading facility for its customers. In the same period Canara Bank, HSBC Insurance (Asia-Pacific) Holdings and the bank had signed a non-binding memorandum of understanding to jointly establish a life insurance company in India. The Bank had launched Oriental Bank Navkiran Deposit Scheme in February of the year 2008. Kotak Mahindra Asset Management Company entered into a distribution tie-up with OBC in March of the year 2008. The Joint Venture was made with Canara Bank and HSBC in 16th June of the year 2008 and the marketing of insurance products commenced through its branch network. The Bank network covers 1,323 branches with 79 extension counters spread across 22 states and three union territories, plans to reach 2,000 branches by 2010.
South Indian Bank
One of the earliest banks in South India, South Indian Bank (SIB) came into being during the Swadeshi movement. It was incorporated on 1st March 1928 by the fulfillment of the dreams of a group of enterprising men who joined together at Thrissur to provide the people a safe, efficient and service oriented repository of savings of the community on one hand and to free the business community from the clutches of greedy money lenders on the other by providing need based credit at reasonable rates of interest. Now the bank accounts about the network of 520 branches, 17 extension counters and 260 ATMs. Through all, the bank serves the services under the areas of Accounts/Deposits, Loans, Mutual Funds, Insurance, Money Transfers and some other value added services. The first branch outside Kerala was opened by the bank in Coimbatore during the year 1941. SIB, the first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act. During the year 1963, the bank took over the assets and liabilities of Kshemavilasam Banking Company Ltd and the Ambat Bank Pvt Ltd, Chittur, Kerala. The year 1964 was notable one in the saga of SIB; the bank had acquired ten banks in the single year of 1964 itself, the list of banks include Public Bank Ltd, Suburban Bank Pvt Ltd, Vijalakshmi Bank Pvt Ltd, Chalakudy Bank Ltd, Mukkattukara Catholic Bank Ltd, Assyrian Charities Banking Company Ltd, The Catholic Syrian Christian Bank Ltd, Malabar Bank Ltd, Bharata Union Bank Ltd and Kozhuvanal Bank Ltd. SIB made its entry into merchant banking activities by supporting/underwriting 99 new issues in the year 1990. A Currency Chest activity of the bank on behalf of the RBI was started to execute in April of the year 1992. Also during the same year of 1992, SIB unlocked a NRI branch in November and developed an in-house, a fully integrated branch automation software in addition to the in-house partial automation solution operational. During the year 1993, the bank started an Industrial Finance Branch in the month of March and opened an ‘Overseas Branch’ to cater exclusively to the export and import business in June of the same year 1993. Initial Public Offering of the bank was made and went to public in the year 1998. The Sibertech (Technology Promotion Drive of South Indian Bank) project, a comprehensive and centralized banking solution was launched by the bank in 2001 and also SIB entered into alliance with three exchange houses in the Gulf during the identical year of 2001. A tie-up was made by the bank with insurance player in the year 2002 for the distribution of the products of the insurance company. The internet banking facility, namely Sibernet was introduced by the bank to its customers in the year 2003 and also made an agreement with Master Card International to launch Maestro, the Global ATM/Debit Card. During the year 2004, the bank had celebrated 75 years of its existence. The Follow on Public Offering of the company was made in the year 2005. The Bank won a special award for excellence in Banking Technology from IDRBT (Institute for Development and Research in Banking Technology) in September of the year 2006. The bank has achieved 100% Core Banking Solutions by 24th March of the year 2007. Further to strengthen the ATM reach and global acceptability Bank has introduced Master Card Global Debit- cum- ATM card, which can be used at ATMs and merchandise all over the world. SIB has emerged as the Best Performer in Asset Quality category in Analyst 2008 Survey of Indian Banks among private sector banks which include both the new generation and the traditional banks in India.
Bank of India
Bank of India is a state-owned commercial bank with headquarters in Mumbai. The Bank provides a wide range of banking products and financial services to corporate and retail customers. The bank provides specialized services for businesses (dealing in foreign exchange), NRIs, merchant banking, etc. They also have specialized branches that deal in asset recovery, hi-tech agricultural finance, lease finance and treasury, and small scale industries. The Bank offers products such as mutual funds, venture capital, depository services, bullion trading and credit cards. The Bank operates in three business segments, namely Treasury Operations, Wholesale Banking Operations and Retail Banking Operations. Treasury Operations includes the entire investment portfolio, which include dealing in government and other securities, money market operations and foreign exchange (Forex) operations. Wholesale Banking includes all advances, which are not included under Retail Banking. Retail Banking includes exposures which fulfill two criteria, the maximum aggregate exposure up to rupees five crore and the total annual turnover is less than rupees 50 crore. The Bank is having their presence at 29 locations in 18 countries across four continents. They are having 3101 branches in India spread over all states/ union territories including 141 specialized branches. These branches are controlled through 48 zonal offices. The Bank is having one Joint Venture Bank in Zambia and a subsidiary each in Tanzania and Indonesia. They are having global presence through their branches in London, Tokyo, New York, Paris, Hong Kong, Singapore, etc. Bank of India was incorporated on September 7, 1906 by a group of eminent businessmen from Mumbai. The Bank was stared with one office in Mumbai, with a paid-up capital of Rs 50 lakh. The Bank was the first in India promoted by Indian interests to serve all the communities of India. In the year 1921, the Bank entered into an agreement with the Bombay Stock Exchange to manage their clearing house. In the year 1946, they were the first Indian Bank to open a branch outside the country, at London. During the period 1950-1962, they opened their branches in Tokyo, Osaka, Singapore, Kenya, Uganda, Aden Tanganyika, Hong Kong and Nigeria. The Bank was under private ownership and control till July 1969 when the Bank was nationalised along with 13 other banks. In the year 1972, the Bank sold their Uganda operation to Bank of Baroda. In the year 1974, they became the first to open a branch in Europe, Paris. In the year 1989, the Bank was the first among the nationalised banks to establish a fully computerized branch and ATM facility at the Mahalaxmi Branch at Mumbai. In the year 1997, the Bank came out with maiden public issue. In November 1997, they introduced bullion banking. In the year 2000, they introduced Star Cash Management Services 2000 for speedier collection of cheques and release of immediate funds to the customers without waiting for actual realization of cheques. During the year 2002, they returned Rs 150.42 crore of equity capital to Government, with this the Government stake in the bank reduced to 69.3% from 76.5% earlier. During the year 2004-05, the Bank merged two of their branches. The Bank was honored as ‘The Best Bank’ in the implementation of Information System Security Polices from Institute for Development & Research in Banking Technology (IDRBT). They made a tie up with ICICI Prudential Life Insurance for providing reference to customers for sale of their life insurance products against a referral fee. They also made strategic tie up with Securities Trading Corporation of India (STCI), in facilitating secondary market sale of Government Securities. In November 2006, the Bank in association with Union Bank of India entered into an MoU with Infrastructure Development Finance Co Ltd for financing the infrastructure projects. In December 2006, Japan’s Dai-ichi Mutual Life Insurance Co. formed a joint venture with Bank of India and Union Bank of India to offer life insurance services in India. During the year 2007-08, the Bank acquired a stake of 76% in PT Bank Swadesi Tbk for a total consideration of Indian Rs.3.77 crores. PT Bank Swadesi had a licence to Forex Business and listed on the Jakarta Stock Exchange. They made a tie up with ING Investment Management and Franklin Templeton Investments for sale for their mutual fund products. They implemented Core Banking Solutions in 1525 branches. Also, they installed solar power system in 65 rural and semi-urban branches facing acute power shortage. In May 2007, the Bank made a tie-up with National Bulk Handling Corporation (NBHC) for lending to farmers against warehouse receipts at 10.25 per cent, 50 basis points (bps) lower than the normal agri lending rate of 10.75 per cent. In July 2007, they sold their entire of 12.25% stake in IL&FS Investment Managers Ltd to the IL&FS Promoters. During the year 2008-09, the Bank opened 118 new branches and converted 20 extension counters into full-fledged branches. Also, 1067 branches migrated to Core Banking Solution (CBS) making a total of 2593 branches in CBS mode covering 1553 centres. They entered into tie-up with IDFC Mutual Fund for sale of their mutual fund products. Also, they launched the revamped web-site using latest Next Generation Web 2.0 technology with features like Customer Corner for customer suggestions/ redressal of grievances. In June 2008, Bank of India (Tanzania) Ltd, a wholly owned subsidiary commenced operations with first branch at Dar-Es-Salaam. In February 2009, they entered into Corporate Agency Agreement with Bank’s Joint Venture – the Star Union Dai-ichi Life Insurance Co Ltd for sale of their life insurance products. During the year 2009-10, the Bank opened 186 new branches including 13 Extension Counters converted into full-fl edged branches. The Bank signed MoUs with Tata Motors, Piaggio Vehicles Pvt Ltd, Asia Motor Works, JCB India Ltd, Mahindra Navistar, Ashok Leyland Ltd, Sonalika Group of companies etc. for financing vehicles / earth moving equipments. They entered into tie-up with DSP BlackRock Mutual Fund, Reliance Mutual Fund and Birla Sunlife Mutual Fund for sale of their mutual fund products. During the year, the Bank launched ‘Welcome Kit’ for all new accounts opened at the select branches of Mumbai, New Delhi, Chandigarh and Ghaziabad. They launched Marathi version of their web-site. From May 16, 2009 all domestic branches came under the umbrella of CBS. In September 2009, they launched two new products, ‘Star Suraksha SB account’ and ‘Star Benefit CD account’ having unparallel features for improving the CASA business. In October 2009, the Bank entered into an MoU with TVS Motor Company Ltd to provide finance for customers intending to buy TVS Flame SR 125 motorcycle. The Bank would take on the role of preferred financier and offer customers attractive loans, under the special scheme, launched to coincide with the festival season. A web based Customer Complaint Management System was made live from January 1, 2010 to reduce the response time. In February 2010, the Bank launched ‘Star Abhilasha Biometric Smart Cards’ in Nagpur, Maharashtra. They introduced Credit Application Processing Systems through software termed as CAPS which covers all major credit segments, namely Retail, Corporate, MSME and Agriculture. During the year 2010-11, the Bank opened 283 new branches including 2 Extension Counters converted into full-fledged branches. They introduced welcome Kits for NRI Customers opening NRE/ NRO accounts at foreign centers. Also, they launched Marathi version of the Banks website. The Bank introduced a new format of Savings Bank Passbook (Horizontal Format) which will print all details of the transaction on the same page as against the existing format (Vertical Format) where the details are printed on two pages. They introduced issuance of insta-pin for Debit-cum-ATM Card. This will address the customer grievance for non-receipt of Re-pin and also save the effort and expense in generating and mailing Re-pins. The Bank started fifteen Rural Centralised Credit Processing Centres (CPC)
at Belgaon, Ujjain, Barabanki, Mehasana, Ludhiana, Karad, Amalapuram, Tanjavur, Barasat, Hardoi, Nadiad, Ratnagiri, Nashik, Solapur & Barnagar. They opened mid-Corporate branches at Ernakulam, Andheri and Seepz. In October 27, 2010, the Bank and Ajcon Global Services Ltd signed an MoU for strategic Tie up for offering Online Trading in shares services to the customers of the Bank. In December 14, 2010, the Bank launched five SME City Centres at Ahmedabad, Coimbatore, Kolkata, Ludhiana, and Pune. Subsequently, seven more SME City Centres at Bangalore, Chandigarh, Hyderabad, NewDelhi, Nagpur, Mumbai North and Vadodara started functioning. In January 14, 2011, they launched five New Retail Business Centres in 5 identified Zones namely Bangalore, Chandigarh, Mumbai South, New Delhi and Pune on Pilot basis.
Bank of Maharashtra
Bank of Maharashtra is a public sector bank in Maharashtra, which offers personal banking, cash management, retail loans and other financial services. Their services include deposits, savings/current bank account, vehicle loans, personal loans, retail trade finance, global banking, lending to priority sector and small scale sector, foreign exchange and export finance, corporate loans and equipment loans. The Bank has one subsidiary, namely The Maharashtra Executor & Trustee Company Pvt Ltd, which undertakes management of public/ private trusts and administration/ execution of Will. They also sponsored three Regional Rural Banks, namely Aurangabad Jalna Gramin Bank, Thane Gramin Bank and Marathwada Gramin Bank with head office at Aurangabad, Thane and Nanded respectively. Bank of Maharashtra was incorporated on September 16, 1935 and started their business on February 8, 1936. In April 10, 1946, The Maharashtra Executor & Trustee Company Pvt Ltd was incorporated as a wholly owned subsidiary of the Bank. In July 1969, Bank of Maharashtra was nationalized along with 13 other banks. After nationalization, the Bank expanded rapidly. In the year 1998, the Bank attainted the autonomous status, which helped the Bank in providing more and more services with simplified procedures without intervention of Government. In the year 2000, they incorporated Magic eMoney Ltd (MeM) a joint venture of Bank of Maharashtra, Dena Bank, NextStep Infotech P. Ltd. (NSIPL) and Magic Software Enterprises (MSE) Israel continued to undertake departmental projects. During the year 2003-04, the Bank came with their initial public offer of 10 crore shares of Rs 10/- each at a premium of Rs 13/- amounting to Rs 230 crore. The issue received overwhelming response and was over subscribed by more than 11 times. Also, they opened 34 new branches and upgraded 10 extension counters into full fledged branches during the year. During the year 2004-05, the Bank opened 14 new branches, 2 extension counters and up-graded 1 extension counter into a full-fledged branch. Also, they opened Holiday Home at Shirdi in addition to 5 existing Holiday Homes at different places. The Bank acquired a stake of 9% in Global Trade Finance Pvt Ltd, a non banking finance company promoted by the EXIM Bank. In January 2006, the Bank signed a MoU with Life Insurance Corporation of India, for distribution of their insurance products. Also, they launched a scheme of money transfer service for Non Resident Indians and other foreign account customers, using the Western Union Money Transfer Services provided by Western Union Financial Services Inc. For this regard, the Bank has entered into agreement with Weizmann Forex Ltd, the primary agent of Western Union Financial Services Inc. During the year 2006-07, the Bank opened 29 new branches and upgraded 16 extension counters into full fledged branches. They expanded the ATM Network from 145 ATMs to 302 ATMs during the year and entered into collaboration with VISA for issuance of Debit cards. The Bank commissioned their own Data Center at Pune and Disaster Recovery (DR) site at Hyderabad. Also, they established six IT Labs at Delhi, Kolkata, Chennai, Hyderabad, Bangalore and Lucknow in order to take care of the massive training requirement for the CBS project. The Bank launched new schemes like Mahalaxmi Term Deposit Scheme (3 years term deposit scheme), Mahadeep Scheme (Financing of Solar Water Heating System), Insta Remit Scheme (RTGS scheme for instant fund transfer), etc during the year. In May 2006, they entered into tie up with United Insurance Company Ltd for distribution of their non-life insurance products. During the year 2007-08, the Bank also launched two group insurance schemes, namely Maha Suraksha Deposit Scheme for all types of deposit account holders and Maha Grih Suraksha for home loan borrowers. Also, they entered into distribution agreement with 15 select Asset Management Companies during the year. They opened 20 new branches upgraded 10 extension counters into full fledged branches. They also opened 3 Currency Chests during the year. In March 2008, the two Regional Rural Banks, namely Aurangabad Jalna Gramin Bank and Thane Gramin Bank were amalgamated into one unit in the name of Maharashtra Godavari Gramin Bank with head office at Aurangabad and having area of operation in nine districts of Maharashtra.As at March 31, 2008, the total branch network comprised of 1,375 branches and three extensions counters spread over 22 states and two union territories.
The result for the coveted India’s Most Valuable Private Bank 2014 will be presented on 18th July 2014 in a power packed glittering award ceremony