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Banks in Delhi

Since Delhi is regarded as one of the biggest commercial and business centers of India, it has also invited the growth of wide banking sector in the city. Banks in Delhi are well known for good customer service at minimal cost and time. In order to carve a niche for itself, Punjab National Bank has come up with innovative banking service like "Doorstep Banking Service" which would enable its esteemed customers in Delhi to avail of the bank’s assistance at their doorsteps.

The growing economy of Delhi is poised to make tremendous growth in the coming years. Economic statistics indicates that in the year 2000-2001 Delhi's GDP growth was 478 billion while the per capita income rose to Rs. 38,860. The average annual growth rate rose to 9.9% which has been instrumental in attracting foreign banks in Delhi too.

The major reasons which has led to the establishment of banks in Delhi could be attributed to varied factors. However, the most important cause of the spurt in banking activities in the capital city is due to rapid growth of industrialization.

 

Commercial Banking in Delhi:

The coming up of new age industries like - jewelery, handicraft, textile, fashion, BPO, IT and ITES has led to hectic banking services in the city. However, corporate banking has assumed greater significance , in this regard mention needs to be made of Japan's Mizuho Corporate Bank which recently opened its branch in Delhi.

Among the formidable banks in Delhi, ABN-Amro has been well known for its comprehensive array of banking products. This particular bank offers specialized services in the field of - Cash Management,Trade Services, Net Banking and Online Commercial Banking services. The highly integrated Foreign Exchange service of ABN-Amro offers tailor made banking solutions which are further processed through electronic payment system. Such kind of commercial banking methods have paved the way for cross border trade services in Delhi.

Many government banks in Delhi has contributed over the years in promoting good banking services for all sections of Delhite populace. In a bid to improve the growth of banks in Delhi, the Delhi government has introduced new scheme of opening zero balance account for students of Delhi government schools in selected nationalized banks. The major motive behind introduction of such facilities at majority of banks in Delhi are to transform cash transaction at less charges and check fake currency circulation. Some of the banks in Delhi which are under PSU have able to materialize business with fiscal deposits of 25.54%

 

Popular Banks in Delhi:

Other prominent public sector banks in Delhi which has revolutionized banking in the city are--

  • Allahabad Bank
  • Bank of Baroda
  • Bank of Maharashtra
  • Central Bank of India
  • Dena Bank
  • Indian Overseas Bank
  • State Bank of Bikaner & Jaipur
  • State Bank of Mysore
  • Vijaya Bank
  • Syndicate Bank
  • Lord Krishna Bank

Last Updated On: 2011/07/01

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