Top 10 Largest Banks In India for 2017

India has a strong banking and financial sector and it is one of the most influential industry in India’s economy. A lot of major reforms have happened post independence and especially the reforms in 1991. A lot has changed since then and we are now moving towards complete digitization of transactions. Banks have been instrumental in making this progress.

1. State Bank Of India

Type: Public
Industry: Banking, Financial services
Founded: 2nd June 1806, Bank of Calcutta; 27th January 1921; Imperial Bank of India, 1st July 1955; State Bank of India, 2nd June 1956, nationalisation
Headquarters: Mumbai, Maharashtra, India
Area served: Worldwide
Key people: Arundhati Bhattacharya (Chairperson)
Products: Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards
Revenue Increase: ₹2.85 trillion (US$42 billion) (2016)
Profit Increase: ₹127 billion (US$1.9 billion) (2016)
Total assets: Decrease ₹30.72 trillion (US$460 billion) (2016)
Owner: Government of India
Number of employees: 293,469 (2016)
Website: sbi.co.in

2. HDFC Bank

Type: Public company
Industry: Financial services
Founded: 1994
Headquarters: Mumbai India
Area served: India
Products: Banking
Asset: USD 66.7 billion
Number of employees: 87,555 (31st March 2016)
Website: www.hdfcbank.com

3. ICICI Bank

Type: Private Sector Bank
Industry: Banking, Financial services
Founded: 1994
Headquarters: Mumbai, Maharashtra, India
Area served: Worldwide
Key people: Mr M. K. Sharma (Chairman), Mrs Chanda Kochhar (MD & CEO)
Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management, personal loans, payment solutions.
Revenue: US$10.3 billion (2016)
Operating income : US$3.6 billion (2016)
Profit: US$1.5 billion (2016)
Total assets: US$109.0 billion (2016)
Total equity: US$13.5 billion (2016)
Number of employees: 74,096 (2016)
Website: www.icicibank.com

4. Punjab National Bank

Type: Public
Industry: Banking, Financial services
Founded: 19 May 1894 – 122 years ago
Founder: people: Lala Lajpat Rai
Headquarters: New Delhi
Key people: Usha Ananthasubramanian (MD & CEO)
Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue Increase: ₹47,400 crore (US$7.0 billion)(2013)
Net income: Decrease ₹4,748 crore (US$710 million) (2013)
Total assets: ₹6,435 billion (US$96 billion) (2015)
Owner: Government of India
Number of employees: 62,392 (March 2013)
Website: www.pnbindia.in

5. Axis Bank

Type: Private
Industry: Banking, Financial services
Founded: 1993(as UTI Bank)
Headquarters: Ahmedabad, Gujarat, India
Key people: Shikha Sharma (MD & CEO) Sanjiv Misra (Chairman)
Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue: ₹414.0925 billion (US$6.2 billion) (2016)
Net income: ₹83.5759 billion (US$1.2 billion) (2016)
Total assets: ₹5.25468 trillion (US$78 billion) (2016)
Total equity: ₹4.7657 billion (US$71 million)
Number of employees: 56,084 (March 2016)
Website: axisbank.com

6. Canara Bank

Type: Public
Industry: Banking, Financial services
Founded: Canara Bank Hindu Permanent Fund (1906; 111 years ago at Mangalore, India), Canara Bank Ltd (1910), Canara Bank (1969).
Headquarters: Bangalore, Karnataka, India
Key people: Shri T. N. Manoharan (Chairman), Shri Rakesh Sharma (MD & CEO)
Products: Investment Banking, Consumer Banking, Commercial Banking, Retail Banking, Private Banking, Asset Management, Pensions, Mortgages, Credit Cards
Revenue: ₹339 billion (US$5.0 billion) (2012)
Net income: ₹33.41 billion (US$500 million) (2012)
Total assets: ₹4.72 trillion (US$70 billion) (2015)
Owner: Government of India
Number of employees: 53,506 (2016)
Website: Canara Bank

7. Bank of Baroda

Type: Public
Industry: Banking, Financial services
Founded: 20 July 1908 – 108 years ago
Founder: Maharaja H. H. Sir Sayajirao Gaekwad III[1] Headquarters: Vadodara, India
Area served: Worldwide
Key people: P. S. Jayakumar(CEO & MD), Ravi Venkatesan (Chairman), Bharat Dangar (Director)[2] Products: Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Total assets: ₹6.714 trillion (US$100 billion) (2015)
Owner: Government of India
Website: www.bankofbaroda.com

8. Union Bank

Type: Public company
Industry: Financial services
Founded: 11 November 1919 – 97 years ago
Headquarters: Mumbai, India
Key people: Arun Tiwari (Chairman & MD)
Revenue: ₹211.44 billion (US$3.1 billion) (2012)
Net income: ₹17.87 billion (US$270 million) (2012)
Owner: Government of India
Number of employees: 36377(2015)
Website: www.unionbankofindia.co.in

9. IDBI Bank

Type: Government-owned bank
Industry: Banking, Financial services
Predecessor: IDBI
Founded: July 1964; 52 years ago
Headquarters: Mumbai India
Key people: Mr. Kishor Kharat (MD & CEO)
Products: consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management, Agriculture Loan
Revenue Increase: ₹31,453.16 crore (US$4.7 billion) (2016)
Operating income: Increase ₹5,370.07 crore (US$800 million) (2016)
Net income: Decrease ₹3,664.80 crore (US$540 million) (2016)
Total assets: Increase ₹374,372.13 crore (US$56 billion) (2016)
Number of employees: 16,555 (March 2015)
Website: www.idbi.com

10. Bank of India

Type: Public
Industry: Financial services
Founded: 7 September 1906; 110 years ago
Headquarters: Mumbai, Maharashtra, India
Key people: Shri Melwyn Rego (MD & CEO)
Products: Commercial Banking, Retail Banking, Private Banking, Asset Management, Mortgages, Credit Cards
Revenue: ₹243,935.0 million (US$3.6 billion)
Operating income: ₹53,842.3 million (US$800 million)
Net income: ₹24,887.1 million (US$370 million)
Total assets: ₹6,469 billion (US$96 billion) (2015)
Website: www.bankofindia.com

Source: Embibe

Top 10 Richest People in India 2017

China-based International research agency, Hurun Report issued Hurun India Rich List on Tuesday. The Hurun Report has listed 617 individuals with income of rupees 1,000 crore or more. Since its inception in 2012, the Hurun Rich Report has 136 billionaires this year which is a record in itself. One of the top businessman, chairman and MD of the Reliance Industries Limited, Mukesh Ambani topped the chart with his whoofing wealth of Rs. 2,75,900 crore. Interestingly, Ambani’s Rs. 2,75,900 crore wealth is more than the GDP of Yemen. With a 58% increase in his net worth, Reliance’s MD topped the list and became the richest man in India. Mukesh Ambani topped the chart and retains the richest Indian title for the sixth time in a row. On an average, as per the Hurun Report, the wealth of Hurun India Rich Listers have increased by 17% compared to that of last year.

Interestingly, last year Patanjali’s Acharya Balakrishna was also named in the Forbes 100 richest Indians. Here is a list of Top Ten Richest Indians as per the 2017 Hurun India Rich List :-

1. Mukesh Ambani
   With a networth of INR 257,900 Crore, the CEO and MD of Reliance Industries Limited topped the chart of 2017 Hunur India Rich List. Interestingly, his wealth is 50% more than the GDP of Yemen- the country of his birth.

2. Dilip Shanghvi
   Sun Pharma’s Dilip Shanghvi followed Mukesh Ambani in the Hunur Report of 2017. With a net worth of INR 89,000 crore Dilip Shanghvi became the second richest Indian.
3. Lakshmi Niwas Mittal
   The steel Baron of India, Lakshmi Niwas Mittal with a net worth of INR 88,200 crore is the third richest Indian as per the Hurun Report.

4. Shiv Nadar
   With a net worth of INR 85,100 crore, Shiv Nadar became the fourth richest Indian according to the Hurun India Rich List. He is the founder and Chairman of IT giant HCL.
5. Azim Premji
   The founder of multi-billion dollar IT giant Wipro’s, Azim Premji’s net worth is INR 79,300 crore. In 2006, Azim Premji founded the Premji Invest.

6. Cyrus Poonawalla
   Billionaire Cyrus Poonawalla of Serum Institute secures sixth position in the Hurun India Rich List of 2017. He has a networth of INR 71,100 crore.

7. Gautam Adani
   The Chairman of Adani Group, Gautam Adani with a net worth of INR 70,600 crore became the seventh Richest Indian as per the Hunur Report.

8. Acharya Balakrishna
   The CEO of the Ayurveda giant Patanjali, Acharya Balakrishna has made it to the list of Top 10 Richest India as per the Hunur India Rich List of 2017. In the financial year 2016-2017, Patanjali had a turnover of INR 10,561 crore.

9. Uday Kotak
   With a networth of INR 62,700 crore, Uday Kotak of the Kotak Mahindra Bank is the ninth richest person as per the Hunur India Rich List of 2017.

10. Sunil Mittal and Family
    The founder and Chairman of Bharti Airtel, Sunil Mittal with a net worth of INR 56,500 crore is the tenth richest Indian as per the Hunur India Rich List of 2017. He launched the Airtel Payment Bank and recently signed the agreement to acquire Telenor’s India.

Source: MapsofIndia