Thursday, 9 March 2017

Top 10 banks in India 2017

In India banking sector is one of the most regulated sectors in the economy. When Indian Government allowed private banks to operate in the nation many banks came into existence and gave a tough competition to various nationalized players. Private Banks won over most nationalized banks because of the quality of services they offered to their customers. With years, banks are also adding services to their customers. The Indian banking industry is passing through a phase of customers market. The customers have more choices in choosing their banks. A competition has been established within the banks operating in India. So, which banks provide the best services?
Although Indian banking is known as world’s best banking but we can’t point out any single bank which provides best banking among all. Because i don’t think that even a single person is satisfied with service sector industry. Our expectation is too high and always running on increasing trend. Like; all customers are not same, all banks are not same. The behavior of employees perceive in different manner by different people. Because due to competition there is a huge change can feel in working style of PSU & Private sector banks which covers only limited area & they have too many complaints also. So we can’t point out any single name. Nowadays banking industry is totally changed, I m talking about the service quality of PSU banks. Lots of customer centric approach is applied today, now banks are more concerned about the customer retention. So if we go through the customer service delivery system of bank of Baroda it will now at par with the peer banks. Their services is now become centralized, a new retail loan factory concept is introduced by the bank which will help to improve the quality of loan,it also reduces the delivery time and make it more customer friendly.
In Short, Try to obtain the benefits of monopolistic competition between PSUs and private sector banks. It is good for retail customers because they always have choice to shift their banking.
We are going to give rank to the banks as per belove Individual Parameters
  • Disclosure about charges and interest rates
  • Pro-active communication about new products/services
  • Trustworthiness
  • Complaint Resolution
  • Wide ATM coverage
  • Professionalism of the company
  • Convenient banking hours
  • Well-trained staff
  • Courteous and friendly staff
  • Faster service at branches
  • Knowing the customer and their needs
  • Good Internet banking
  • Efficient processes
  • Effective communication on developments
  • Innovative company
  • Good phone banking
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.As of 31 March 2016,SBI has more than 14,000 branches,including 191 foreign offices spread across 36 countries and 49,577 ATMs & SBI group (including associate banks) has 58,541 ATMs. There are more than 14000 branches across the globe and the assets of the bank are worth ₹20.480 Trillion.
HDFC Bank
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. Bank’s distribution network was at 4,555 branches and 12,087 ATMs across 2,597 cities / towns. 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.
Axis Bank
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. Bank has 2,959 branches, 12,743 ATMs, and nine international offices.



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. Bank has over 6,968 branches and over 9,997 ATMs nationwide. The Chief Executive Officer of the bank is Usha Ananthasubramanian.

ICICI Bank
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 has a network of 4,608 Branches and 14,404 ATM's has a presence in 19 countries including India.

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 5498 branches including  107 overseas branch and over 10441 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.CEO of Bank of India is Melwyn O. Rego.The total assets of the bank are around $96 Billion .Bank of India has 5100 branches as on 31 January 2017, including 56 offices outside India, which includes five subsidiaries, five representative offices, and one joint venture and more than 4000 ATMs nationwide.
Canara Bank
Like other major public sector banks, Canara Bank is also state owned and was set up in the year 1906 by Subba Rao.The headquarters of the Bank reside in Bengaluru, Karnataka. The Bank provides hassle free service to its customers . Bank has revolutionized its services and spreads its hands more to cover more areas.As per the data of 2016, the Bank has 5847 branches and 9657 ATMs across the nation.The total assets of the bank $70 Billion which are set to increase in the coming years.
IDBI Bank 

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 1885 branches including one overseas branch at Dubai and 3492 ATMs 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 including Four of these are overseas and around 7000 ATMs as on 30 September 2016. The Current CEO of the bank is Arun Tiwari.
So, guys this was some very basic information about the Top Banks in the Country. 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.
(data as on 31st January,2017)

5 comments:

  1. This comment has been removed by the author.

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  2. In the year 2015 Canara bank had highest ATMs amongst nationalised banks after SBI. Please modify the article

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    1. We had written this data after proper rectification and still if you have doubt then you can suggest us through contact us box....

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  3. MR MELWYN REGO IS MD & CEO OF BANK OF INDIA. MR G PADMANABHAN IS CHAIRMAN.

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