A list of nationalized banks in India may include the 14 banks nationalized by the Indian government on July 19, 1969. These banks include the Bank of Maharastra, Syndacite Bank, Canara Bank, Indian Bank, Union Bank of India and Indian Overseas Bank.Continue Reading
A list of nationalized banks in India records all the commercial banks of which the Indian government took ownership beginning in 1955 when the government passed legislation for the State Bank of India Act. At that time, the government of India nationalized seven branches of the State Bank of India, including the State Bank of Hyderabad, the State Bank of Mysore and the State Bank of Travancore.
The Indian government nationalized six additional banks in 1980, giving the government control over about 90 percent of the financial institutions in the country. In 1993, the number of nationalized banks in the country reduced from 20 to 19 due to a merger between the New Bank of India and Punjab National Bank. The list of nationalized banks in the country provided by India's Central Bank, the Reserve Bank of India, includes 18 banks, located in Bangalore, Kolkata, New Delhi, Mumbai, Manipal, Chennai, Bandra East Mumbai, Mangalore, Bangalore, Pune and Hyderabad. In India, banks may be divided up as nationalized, private sector, foreign, regional, rural and branches of the State Bank of India.Learn more about Corporations
In the United States, national banks are commercial banks chartered by comptrollers of the U.S. Treasury. In other countries, a national bank is simply a central bank controlled by the government.Full Answer >
The types of financial institutions include commercial banks, investment banks, insurance companies, brokerages, investment firms, management investment companies and non-bank financial institutions including credit unions, payday lenders and savings and loans institutions. Financial institutions perform various financial transactions, such as loaning, lending and brokering money. They exist for general purposes, like giving consumers a safe and convenient storage place for money, and for specific reasons, such as providing financial security in the event of accidents and personal losses.Full Answer >
Credit unions are known for having lower checking account fees and better customer service than banks. Because credit unions are smaller local entities and are nonprofit, they have less motivation or reason to charge as many fees as a national bank looking to manage overhead and turn a profit.Full Answer >
As of January 2015, Fundoodata.com, a business data aggregator that focuses on the Indian market, listed 4,279 multinational corporations, or MNC's, in India. The number of multinational corporations in India fluctuates over time, depending on government rules and global investment trends.Full Answer >