Banks in India: Headquarters and Taglines

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What is a Bank?

A bank is a financial institution whose primary function is to grant loans and receive deposits. Other than this it also provides other financial services such as currency exchange, safe despots and wealth management. 

Types of banks:

Among various types of banks- the three important banks are as follows:

  1. Commercial banks: The primary objective of commercial banks is to provide loans to the customer and deposit money. Commercial banks are also known as the backbone of the banking system. As the name suggests it functions with the aim of gaining profit. It provides finance for investment purposes and therefore makes a profit from it. When a bank lends money to their customers it charges them more interest compared to the interest they provide on the money deposited by the customer. This difference in the interest rate is the net profit of the bank.
  2. Investment banks: Investment bank deals with the creation of capital for companies, government and other financial entities. They perform various functions like -advice on what the worth of a company, how to deal with acquisition, merger or sale, underwrite new debt and equity securities etc.
  3. Central banks: Central bank is the bank which provides stability and helps in controlling inflation in the economy by infusing/ divesting the money in the market. It is totally dedicated to the country’s interest. It also formulates monetary policy in the country. Every country has its own Central Bank like China have the People’s Bank of China. India also has its own central bank i.e.  Reserve Bank of India.

About Mega-Merger of the bank:

The finance minister Smt. Nirmala Sitamraman has announced the further merger of 10 PSU into 4 after the merger of Vijaya Bank and Dena Bank into the anchor bank- Bank of Baroda on 1st April 2019. Previously in 2017, the government had merged State bank of India with Bhartiya Mahila bank and the rest of the subsidiaries of SBI. The following are the banks which are further to be merged by the government.

  • Union Bank of India is the anchor bank in which Andhra bank and corporation bank will be merged.
  • Punjab and National Bank is the anchor bank in which Oriental Bank of Commerce and United bank of India will be merged
  • Syndicate bank will be merged with Canara bank.
  • Allahabad bank will be merged with Indian bank.

Other important points:

  1. The first bank that was established in India was Bank of Hindustan in the year 1770.
  2. The second bank that was established after Bank of Hindustan was General Bank of India in the year 1786.
  3. The oldest bank that still existed in India is SBI. It was earlier named as Imperial Bank of India which was formed in the year 1921 after the merger of three banks i.e. Bank of Calcutta, Bank of Bombay and Bank of Madras.
  4. The First payment bank in India is Airtel Payments Bank.
  5. The first Small Finance Bank is the Capital Local Area Bank.
  6. After the merger, there will be only 12 Public Sectors Banks left in the year 2020 from 27 PSU’s in 2017.

Below is the list of important bank names with headquarters and taglines.

Bank Name Bank Headquarters Official Tagline
Allahabad Bank Kolkata A tradition of trust
Andhra Bank Hyderabad Where India Banks
Axis Bank Mumbai Badhti ka naam zindagi
Bank of Baroda Vadodara India’s international Bank
Bank of India Mumbai Relationship beyond Banking
Bank of Maharashtra Pune Ek parivaar, ek Bank
Bandhan Bank Kolkata Apka bhala, sabki bhalai
Canara Bank Bengaluru Together we can
Central Bank of India Mumbai Central to since 1911
Corporation Bank Mangalore Prosperity to all
Citi union Bank Tamil Nadu Trust and excellence since 1904
Dena Bank Mumbai Trusted family Bank
Dhanlaxmi Bank Kerala Tan. Mann. Dhann
Federal Bank Kochi Your perfect Banking partner
HDFC Bank Mumbai We understand your world
Indian overseas Bank Chennai Good people to grow with
Indian Bank Chennai Your own Bank
IDBI Bank Mumbai Banking for all aao soche bada
ICICI Bank Mumbai Hum Hai na/ Khayal apka
Indulsand Bank Mumbai We make you feel richer
IDFC Bank Mumbai Banking hatke
Kotak Mahindra Bank Mumbai Let’s make money simple
Karur vyasa Bank Tamil Nadu Smart way to Bank
Karnataka Bank Mangalore Your family Bank across India
Lakshmi vilas Bank Chennai The changing face of prosperity
Oriental Bank of commerce Gurgaon, Haryana Where Every individual is committed
Punjab national Bank New Delhi The name you can Bank upon
Punjab and Sindh Bank New Delhi Where service is a way of life
RBL Bank Mumbai Apno ka Bank
Syndicate Bank Manipal , Karnataka Faithful and friendly
State Bank of India Mumbai The Banker to every Indian
South Indian Bank Thrissur, Kerala Experience next generation Banking
Union Bank of India Mumbai Good people to Bank with
United Bank of India Kolkata The Bank that begins with “U”
UCO Bank Kolkata Honours your trust
Vijaya Bank Bengaluru A friend you can Bank upon
Yes Bank Mumbai Experience our expertise

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Also Read:

RBI Governors List

Governors of State and Union Territories List

Constitution Of India

How to Focus on a Goal?

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