Importance Of Foreign Banks In India

Foreign Banks that are actively working in India are mainly the banks of various countries and have their branches here. Today, approximately sixteen foreign banks in India are actively operation with 180 branches in different citie. In India, these foreign Banks are thriving successfully in their business, earning large amount of profits. A number of Indian Banks have their branches in foreign countries as well. The leaders among these are the Bank of Baroda and State Bank of India.

Foreign Banks in India are accepted gladly by the customers due to the promptness of its services to their customers. With numerous ATMs for flexible money withdrawal, quickness in loan approval and telephone communications of loan proposal, 24 hours service centers has attracted many customers to bend towards these banks to get banking facilities from them. The service offered by the foreign banking in India has motivated the local banking sector in India to speed up and rectify their weakness that evaded people away from taking up their service. The banking sectors of India became accurate and tried to offer the services similar to those given by foreign banks to stay in business.

The foreign banks of India has lend active hands to help customers in expanding various business activities in a very customer friendly way. They efficient organizational structure and tools available are utilized to serve customers with a new level of satisfaction.

From time to time the Reserve Bank of India employs new rules for these foreign banks in India through the budget that helps them to grow without external influence. Foreign banks in India today are allowable to arrange for local subsidiaries. According to such policy by RBI, the Indian subsidiaries of these foreign banks will not be allowed to open branches liberally.

Here is a list of foreign banks in India

· ABN-AMRO Bank

· Taib Bank

· BNP Paribas Bank

· CITI Bank

· Standard Chartered Bank

· Abu Dhabi Commercial Bank

· Deutsche Bank

· Bank of Ceylon

· HSBC

· JPMorgan Chase Bank

· China Trust Commercial Bank

· Scotia Bank

Role Of Private Banks In India

Today, private banks are the most booming banking sector of India. Private Banks helped in defining banking in entirely distinctive way by providing better-quality services that attracted a astonishing number of clients. Private banks in India were the first ever banks that successfully showed rising profit graph in every financial year and created a landmark in a very limited time span in the Indian banking sector. The private banks worked following a well plotted plan that targeted to attract large number of clients with their service which was a very difficult and challenging task.


Private bank worked to rectify those weak points that was disliked in public sector bank and was successful to draw clientele by contributing to those facilities which the government banks never managed to offer such as flexible approval of loans.


Private Banks in India are gaining popularity each day by providing numerous lucrative services to their customers. They opened thousands of ATMs for easy withdrawal of money, managed to offer loan proposals using telephone communications and opened service centers that worked in 24X7 basis enabling maximum customers to avail services in need. These features with other facilities helped the private banks to head out a hard-hitting competition to those public sector banks that never provided such services before.


The Private Banks also called private sector banks in India worked hard to expand various business activities and served the public to manage their savings in a very efficient and customer friendly way. They have well knitted and refined organizational structure and are equipped with excellent monetary tools and talents and use the field of technological equipments to serve people with better service possible.
Here is a list of private banks in India
• ICICI Banks
• Kotak Mahindra Bank
• SBI Commercial
• HDFC Bank
• ING Vyasya Bank
• Karnataka Bank
• Bank of Punjab Ltd
• Development Credit Bank Ltd
• UTI Bank Ltd
• Yes Bank Ltd
• Jammu & Kashmir Bank



Private Banks of India are responsible for increased employment opportunity among the educated youth of India. They worked to increase investment as well as circulate money that enabled both the corporate as well as medium enterprises to meet the need of financial funds.

Nationalized Banks Role In India

Nationalized banks in India are owned by Indian government. They are also called public sector banks. It is the Indian government who is accountable for the deposited money in the accounts of nationalized banks. Banks were nationalized with various objectives in India after its independence. In the year 1991, just after Economic Reform the banking industry of India stepped into a fresh perspective of competitiveness, competence and output. The reforms made Indian banks more professional organizations and helped to get rid of those shocking days when banks were suddenly nationalized.

Nationalized banks are also called the government banks in India and worked to providing social welfare to Indian public. They were responsible for directing funds to the needy and various sectors like agriculture and small industries for expansion as well as for economic development.

Banks were nationalized to cater to the fund requirements by priority sectors. These sectors are largely the agriculture sector which contributes largely to national income of the country.

Nationalized Banks in India plays a great role in controlling private monopolies to guarantee an even contribution of credit to such sections of the society that are most desirable.

Nationalized Banks in India also help in dropping the regional disparity. India is divided into urban and rural sectors and it is the nationalized banks that work to provide all forms of banking facilities to the most rural areas of the country.

After independence, it is the Nationalized Banks that worked to spread banking facilities across the underdeveloped region of the country in those days as there were insufficient number of banks and people were deprived from banking facilities. The nationalization of banks helped in developing banking practice among the large population of the country since its independence.

Below is a list of nationalized banks in India

· State Bank of India

· Allahabad Bank

· Bank of India

· Bank of Maharashtra

· Bank of Baroda

· Central Bank of India

· Canara Bank

· Corporation Bank

· Punjab & Sind Bank

· Dena Bank

· Indian Overseas Bank

· Syndicate Bank

· United Bank of India

· Indian Bank

· Punjab National Bank

· Oriental Bank of Commerce

· Union Bank of India

· UCO Bank

· Vijaya Bank

ICICI credit cards

ICICI Bank, leading bank of India offers a wide range of Credit Cards, Debit Cards, Prepaid Cards and corporate Cards to according to your requirements. You can also get ICICI Bank credit cards easily online or directly from bank.

ICICI bank offering different ICICI credit cards to suit your needs.

ICICI Bank VISA Signature Credit Card-this card offers annual saving of Rs 40104, this card offers Complimentary membership of Priority Pass and International Golf fee card and you can also get an Air accident insurance of Rs. 3 crore with this card and also Assist, the 24-hour concierge services.

ICICI Bank Ascent American Express Credit Card- this card offer net annual saving of RS 13264, you can also Enjoy 4000 Hand picked rewards as joining benefit and you can also Earn around 12 Hand picked rewards on every Rs. 200 spends from your card. You can also get special privileges in India and abroad with the extra ordinary Weekends and American Express Selected programs

ICICI Bank Platinum Identity Credit Card- this card offer net annual saving of RS 12219. This card offers you discounts up to 50% on all golf green fees and hotels across the world and provide a two year membership of international golf fee card. You can also Earn up to 8 Hand picked rewards on every Rs. 200 spent with increased spends on the card.

ICICI Bank Instant Gold Credit Card – this card offers Net annual savings of Rs 200. go to your nearest ICICI bank and buy your credit card. This card also provide you Instant issuance against all your fixed deposits at low interest charges of 1.99 percent per month and earn 1 I-mint points per hundred rupees. You can also enjoy fuel surcharge waiver at select HPCL outlets.

ICICI Bank British Airways Premium Credit Card- you get total 64000 miles with this credit card. And also get 8000 Ba miles for first time using the ICICI Bank British Airways Premium American Express credit card. You can earn up to 25000 BA miles when you book and fly on a British airways return ticket from India to England and also earn up to 9BA miles on every RS100 spent on British airways tickets.

ICICI Bank HPCL Platinum Credit Card- This card offers RS 2500 of Net annual savings. You can also get 5% saving on fuel purchase from HP petrol pumps and 5 I-mint points for every 100 rupees spent on fuel purchase from HP petrol pumps and 2 I-mint point for every 100 rupees spent on other purchase. This card will provide you interest free credit period for 48 days and also offers you email statement, mobile alerts, internet banking and multiple modes of payments.

ICICI Bank Big Bazaar Gold- you can earn two reward points on every hundred rupees spent at Big Bazaar from your ICICI Bank Big Bazaar Credit Card. For all non-Big Bazaar purchases through your Big Bazaar Credit Card you can earn 1 reward point for every 100 Rs Spent.

Blooming Indian Insurance Industry

India has slowly begun to grow out of the conditions of economic backwardness and the people of India have got money in their pockets for business and investments. India is no more the India as it stood fifty years back but it is becoming one of the finest places on earth to invest and do the businesses deal. The Banking sector has particularly bloomed in this country and the effects of recessions have not been felt much on this country. There has been a huge rise in the number of Insurance companies in India as the level of uncertainty has increased in day to day life. India being connected to the larger global world is now more vulnerable as its economy also gets affected by a major shift in Global business scenario.

Insurance in India did see a set back during the global economic crisis but is back on the track now as banks have recovered partially and they are giving better interest rates on Insurances. Even Uncertainly in health especially during the old age is one of the reasons why a person approaches Insurance companies in India. There are many private and public undertakings when it comes to the Insurance Industry in India. The Life Insurance corporation of India is in fact one of the biggest Insurance companies in India. There are various insurance schemes which lure investors in this game of Insurance.


The Insurance Industry in India is set to grow further over the years as the risk in business increases in the private and public sector is also going to increase with coming of time. To secure Ones family is a good habit due to the uncertainties in life. One should make full enquiry before investing in the Insurance Industry in India. Not all insurance companies India give a good deal.


Author of this article is a freelance writer and regularly takes participate in forums, blogging etc. this time he wrote about Insurance companies in India And Insurance industry in India.

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India Investment Guide

Insurance and its benefits

Insurance is always good for small business owner or self-employed consumer who is tasked with purchasing their own insurance policy. If you purchase Short insurance plan rather than Long term, this give you the peace of mind that comes with knowing you are prepared for the future.

Insurance, in general terms refers to the practice of guaranteeing a sum of money to the owner or possessor of a valuable asset for a limited period of time, to cover the cost of any damage to that asset arising out of any contingency.

In the process of insurance there must necessarily be two parties ‘Insurer’ and ‘Insured.’ The insurer is an entity which guarantees to pay in case of any damage to the personal asset, for example the Insurance companies in India. On the other hand, insured is an individual or an organization whose assets are being covered by the insurer.

The process of insuring any asset comprises of purchasing the insurance policy from any insurance company, agreement on the amount of insurance cover for a particular asset based on its market value and other conditions like usage etc. Once the asset of an individual or an entity is insured, they are required to pay a nominal amount to the insurance company as an ‘Insurance Premium.’ They are also required to get their insurance policies renewed once they expire after a period of time in order to avail its benefits.

Insurance can be of various types like automobile insurance, fire insurance, life insurance etc. In case of any damage to the life or asset to the insured person due to the reasons mentioned in the policy, he or his representatives are entitled to receive the insurance cover money. This amount is calculated by the insurance agent on the parameters of loss incurred, its type and the amount of premium paid by the insured entity.

Nowadays, insurance is a vital need of the people and organizations to be prepared for any unforeseen and unfortunate event or mishap.