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Indian Overseas Bank ( IOB) is an Indian public sector bank based in Chennai. During the nationalisation, IOB was one of the 14 major banks taken over by the government of India. On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry of Electronics & Information Technology for achieving second highest percentage of digital payment ...
Indian Bank is an Indian public sector bank, established in 1907 and headquartered in Chennai. It serves over 100 million customers with 40,187 employees, 5,847 branches with 4,937 ATMs and Cash deposit machines. Total business of the bank has touched ₹1,221,773 crore (US$150 billion) as of March 31,2024. The bank's information systems and ...
It is under the ownership of Ministry of Finance, Government of India. The shareholders of the Bank are Govt. of India (50%), Indian Overseas Bank (35%) and Govt. of Odisha (15%). The Bank is operating in 13 districts of Odisha State with its Head Office at Bhubaneswar. The bank has nine regional offices located at Balasore, Baripada, Cuttack ...
The Reserve Bank of India, India's central banking authority, was established in April 1935, but was nationalized on 1 January 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b). [31] In 1949, the Banking Regulation Act was enacted, which empowered the Reserve Bank of India (RBI) to regulate ...
On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act.
The tagline of Bank of Baroda is "India's International Bank". [citation needed] Affiliates. IndiaFirst Life Insurance Company is a joint venture between Bank of Baroda (44%) and fellow Indian state-owned bank Andhra Bank (30%), and UK's financial and investment company Legal & General (26%).
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