Banks are the financial institution which is licensed to receive any deposits or loans or lend money to the public and makes the payment on the instructions of its customers by passing their cheques within their balance or sanctioned limit. Thus, accepting the deposit, making loans and passing cheques etc are the major features of the bank.
The 5 biggest banks in India are
1. State Bank Of India - The State Bank of India is known as the largest and most successful running banks in India. It is a Public Type Bank. The Bank offers Banking as well as Financial services. This bank was founded in the year 2nd June 1806 and got nationalized as SBI in the year 2nd June 1956. the headquarters are in Mumbai, Maharashtra. The Chairperson of State Bank Of India is Arundhati Bhattacharya. The products and services that re provided are – Consumer and Corporate Banking, Private Equity, Credit Cards, Loans, Savings and Securities, Wealth Management, Investment Banking,Internet Banking(Find IFSC Code of SBI Bank) etc. The Revenue Increase of the bank is 2.85 trillion as recorded in 2016. Profit Increase is 127 billion. The Bank has a network of more than 24,000 branches and 59000 ATMs. It has 198 offices in 37 countries with approx employees of 209,567 as recorded in 2017.
2. HDFC Bank- This is the second biggest banks in India. It is basically a financial; service company which was founded in the year 1994. The Headquarters are present in Mumbai, Maharashtra. The Managing Director of the bank is Aditya Puri. Total revenue collected is 74, 373 crores as recorded in 2016. The Bank has received a profit of 12,817 Crore. The products and services offered by the bank are Credit Cards, Consumer banking, Corporate Banking, Finance and Insurance, Mortgage Loans, Private Equity etc. HDFC has a network chain of 4727 branches, 12,220 ATMs across 2,666 cities/towns with a total employee of 84,325.
3. ICICI Bank- It is a private sector bank. The bank was founded in the year 1994. The Headquarters are in Mumbai, Maharashtra. The Chairman of the bank is Mr. M.K Sharma and Mrs. Chanda Kocchar is the MD and CEO of the bank. The products and the services provided by the bank is Credit Cards, Mortgage Loans, Consumer Banking, Corporate Banking, Private Banking, Wealth Management etc. The Revenue collected is US$ 10.3 billion in the year 2016. The net profit of the bank is 1.05 billion. ICICI Bank has a network chain of 4850 branches, 14,404 ATMs and has a presence in 19 countries including India. The bank has an approx of 74,906 employees.
4. Punjab National Bank- Punjab National Bank is a public type of banking. It was founded in the year 19th May 1894 which makes it 122 years old. The founder of this bank is Lala Lajpat Rai. The Headquarters are located in New Delhi. Usha Ananthasubramaniam is the MD and CEO of the bank. The products and the services offered by the bank are- credit card, consumer banking, corporate banking, finance and insurance, mortgage loans etc. The Revenue Increase is 47,400 Crore, The bank has a network of 6937 branches, 10681 branches across 764 cities.
5. Axis Bank- It is a private banking industry. Axis Bank was founded in the year 1993 as UTI Bank. Shikha Sharma is the MD and CEO of the bank and Sanjeev Mishra is the Chairman of the bank. The product and services of the bank are Credit Cards, Mortgage Loans, Consumer Banking, Corporate Banking, Private Banking, Wealth Mangement etc. The bank has a network chain of 3120 branches and extension counters and 12,922 ATMs which is the highest of all the banks. The Revenue collected is around 414.0945 billion.
The last year has shown as how much we are dependent on the banks. The bank employees are here for us to improve our living and make our country a better place.