Indian Banks contribute most GDP as compared to other sectors because banking sector is basic pillar of any country.
Banks have two types public sector banks and private sector banks. Big player in public sector is SBI Bank and in private sector king is HDFC Bank.
What are Banks ?
A bank is a financial institution that accepts deposits from customers and provides various financial services such as loans, investments, and payment services.
Bank are responsible for managing the money deposited by customers and utilizing these funds to generate profits through lending and investing.
Banks also provide a range of other services such as issuing credit cards, offering insurance products, facilitating foreign exchange transactions, and providing advice on financial matters.
It play a crucial role in the economy by mobilizing savings and providing credit to individuals, businesses, and governments.
There are different types of banks, including commercial banks, investment banks, central banks, cooperative banks, and development banks.
Commercial banks are the most common type of bank, offering a wide range of financial services to retail and corporate customers.
Investment banks, on the other hand, focus on providing advisory services for large transactions such as mergers and acquisitions, while central banks are responsible for regulating the monetary policy of a country.
Indian Banks by Market Cap
1) HDFC Bank
HDFC Bank Limited is a leading Indian banking and financial services company headquartered in Mumbai, Maharashtra. It was founded in 1994 and is one of the largest banks in India by market capitalization.
HDFC Bank is known for its customer-centric approach and innovative digital initiatives. It has won numerous awards and recognition for its performance and customer service.
As of March 2023, HDFC Bank is the largest bank in India by market capitalization, with a market cap of over USD 100 billion.
2) ICICI Bank
ICICI Bank offers a range of financial products and services to individuals, businesses, and corporate customers.
These include savings and current accounts, deposits, loans, credit cards, debit cards, insurance, investment and wealth management, and more.
The bank has a strong network of branches and ATMs across India and also has a presence in international markets.
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3) SBI Bank
State Bank of India (SBI) is a leading Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra.
It was founded in 1955 and is the largest bank in India by assets, deposits, branches, customers, and employees.
As of March 2023, SBI stood at 3 position in India by market capitalization, with a market cap of over USD 70 billion.
4) Kotak Mahindra Bank
Kotak Mahindra Bank is a leading Indian private sector banking and financial services company headquartered in Mumbai, Maharashtra. It was founded in 1985 and is a subsidiary of Kotak Mahindra Group, a diversified financial services conglomerate.
Kotak Mahindra Bank has several subsidiaries across different sectors. Some of its major subsidiaries include:
Kotak Mahindra Life Insurance Company Limited: A life insurance company that offers a range of insurance products and services to individuals and businesses.
Kotak Mahindra General Insurance Company Limited: A general insurance company that provides insurance products and services such as motor insurance, health insurance, home insurance, travel insurance, and more.
Kotak Securities Limited: A subsidiary that offers stockbroking and distribution services to retail and institutional customers.
Kotak Mahindra Asset Management Company Limited: A subsidiary that manages mutual funds and other investment products for individual and institutional investors.
Kotak Mahindra Prime Limited: A subsidiary that provides vehicle financing and other retail financing solutions.
Kotak Mahindra Investments Limited: A subsidiary that provides investment banking and advisory services to corporate clients.
These subsidiaries help Kotak Mahindra Bank to diversify its business and offer a range of financial products and services to its customers.
5) Axis Bank
Axis Bank is a publicly listed company, and its ownership is distributed among a large number of shareholders. The largest shareholders of Axis Bank as of March 2023 are various institutional investors, including mutual funds, foreign portfolio investors, and insurance companies.
The promoters of Axis Bank are the Life Insurance Corporation of India (LIC), the Specified Undertaking of the Unit Trust of India (SUUTI), and various other entities. As of December 2021, LIC held a 8.94% stake in Axis Bank, while SUUTI held a 8.72% stake.