Nainital Bank
Encyclopedia
The Nainital Bank Limited (NBL) (known as Nainital Bank) (Hindi: नैनीताल बैंक) is a private India
n bank, established in 1954. Based in Nainital, over the years, the bank
has expanded to Uttar Pradesh
and especially in Uttarakhand
State, and has over 100 branches in Rajasthan
, Delhi
and Haryana
states. In 1975 Government-owned Bank of Baroda
(BOB), third largest bank in India, after the State Bank of India
and the Punjab National Bank
, acquired a majority stake (98.6%) and management control of the bank, and made it a subsidiary. Today, it has a net business of (2010), and is enlisted as a scheduled bank by the Reserve Bank of India
.
and a few other prominent men from the Shah/Sah community of Kumaon. Two decades later, in 1975 Government-owned Bank of Baroda
(BOB), third largest bank in India, after the State Bank of India
and the Punjab National Bank
, acquired 98.6% stake in the bank and made it a subsidiary.
In April, 2004, National Insurance Company (NIC) signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches across Uttarankhand, Haryana and New Delhi states. The bank had a networth of around Rs 112 crore on as on March 31, 2006. It bank launched its rights issue
in September 2009, to expand its capital adequacy ratio
(CAR) to 14 per cent, this came after it previously withdrew its plans for an IPO due to adverse market conditions in 2007; by April, 2010, the right issue had raised .
Nainital bank is associated with Bank of Baroda
, HDFC Bank, LIC, National Insurance Company Limited etc.
Currently, NBL has over 100 branches in Uttarankhand, Uttar Pradesh, Delhi, Haryana and Rajasthan. It also provide online facilities, apart from Personal Banking, Business Banking, Rural and Agricultual Banking. The Nainital Bank Limited is registered as scheduled commercial bank with Reserve Bank of India
(RBI), the central bank
of India.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n bank, established in 1954. Based in Nainital, over the years, the bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
has expanded to Uttar Pradesh
Uttar Pradesh
Uttar Pradesh abbreviation U.P. , is a state located in the northern part of India. With a population of over 200 million people, it is India's most populous state, as well as the world's most populous sub-national entity...
and especially in Uttarakhand
Uttarakhand
Uttarakhand , formerly Uttaranchal, is a state in the northern part of India. It is often referred to as the Land of Gods due to the many holy Hindu temples and cities found throughout the state, some of which are among Hinduism's most spiritual and auspicious places of pilgrimage and worship...
State, and has over 100 branches in Rajasthan
Rajasthan
Rājasthān the land of Rajasthanis, , is the largest state of the Republic of India by area. It is located in the northwest of India. It encompasses most of the area of the large, inhospitable Great Indian Desert , which has an edge paralleling the Sutlej-Indus river valley along its border with...
, Delhi
Delhi
Delhi , officially National Capital Territory of Delhi , is the largest metropolis by area and the second-largest by population in India, next to Mumbai. It is the eighth largest metropolis in the world by population with 16,753,265 inhabitants in the Territory at the 2011 Census...
and Haryana
Haryana
Haryana is a state in India. Historically, it has been a part of the Kuru region in North India. The name Haryana is found mentioned in the 12th century AD by the apabhramsha writer Vibudh Shridhar . It is bordered by Punjab and Himachal Pradesh to the north, and by Rajasthan to the west and south...
states. In 1975 Government-owned Bank of Baroda
Bank of Baroda
Bank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
(BOB), third largest bank in India, after the State Bank of India
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
and the Punjab National Bank
Punjab National Bank
Punjab National Bank , was founded in 1894 and is currently the second largest state-owned commercial bank in India ahead of Bank of Baroda with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers...
, acquired a majority stake (98.6%) and management control of the bank, and made it a subsidiary. Today, it has a net business of (2010), and is enlisted as a scheduled bank by the Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
.
Overview
Nainital Bank was founded by Govind Ballabh PantGovind Ballabh Pant
Bharat Ratna Pandit Govind Ballabh Pant was a statesman of India, an Indian independence activist, and one of the foremost political leaders from Uttarakhand and of the movement to establish Hindi as the official language of India.-Early life:Govind Ballabh Pant was born on September 10, 1887 in...
and a few other prominent men from the Shah/Sah community of Kumaon. Two decades later, in 1975 Government-owned Bank of Baroda
Bank of Baroda
Bank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
(BOB), third largest bank in India, after the State Bank of India
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
and the Punjab National Bank
Punjab National Bank
Punjab National Bank , was founded in 1894 and is currently the second largest state-owned commercial bank in India ahead of Bank of Baroda with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers...
, acquired 98.6% stake in the bank and made it a subsidiary.
In April, 2004, National Insurance Company (NIC) signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches across Uttarankhand, Haryana and New Delhi states. The bank had a networth of around Rs 112 crore on as on March 31, 2006. It bank launched its rights issue
Rights issue
A rights issue is an issue of additional shares by a company to raise capital under a seasoned equity offering. The rights issue is a special form of shelf offering or shelf registration. With the issued rights, existing shareholders have the privilege to buy a specified number of new shares from...
in September 2009, to expand its capital adequacy ratio
Capital adequacy ratio
Capital adequacy ratio , also called Capital to Risk Assets Ratio , is a ratio of a bank's capital to its risk...
(CAR) to 14 per cent, this came after it previously withdrew its plans for an IPO due to adverse market conditions in 2007; by April, 2010, the right issue had raised .
Nainital bank is associated with Bank of Baroda
Bank of Baroda
Bank of Baroda is the third largest bank in India, after the State Bank of India and the Punjab National Bank and ahead of ICICI Bank. BoB is ranked 763 in Forbes Global 2000 list. BoB has total assets in excess of Rs. 3.58 lakh crores, or Rs. 3,583 billion, a network of over 3,409 branches and...
, HDFC Bank, LIC, National Insurance Company Limited etc.
Currently, NBL has over 100 branches in Uttarankhand, Uttar Pradesh, Delhi, Haryana and Rajasthan. It also provide online facilities, apart from Personal Banking, Business Banking, Rural and Agricultual Banking. The Nainital Bank Limited is registered as scheduled commercial bank with Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
(RBI), the central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of India.
Branch Locations
The Nainital Bank Limited has over 100 branches presently in the following Indian states .- Uttaranchal
- Uttar PradeshUttar PradeshUttar Pradesh abbreviation U.P. , is a state located in the northern part of India. With a population of over 200 million people, it is India's most populous state, as well as the world's most populous sub-national entity...
- DelhiDelhiDelhi , officially National Capital Territory of Delhi , is the largest metropolis by area and the second-largest by population in India, next to Mumbai. It is the eighth largest metropolis in the world by population with 16,753,265 inhabitants in the Territory at the 2011 Census...
- RajasthanRajasthanRājasthān the land of Rajasthanis, , is the largest state of the Republic of India by area. It is located in the northwest of India. It encompasses most of the area of the large, inhospitable Great Indian Desert , which has an edge paralleling the Sutlej-Indus river valley along its border with...
- HaryanaHaryanaHaryana is a state in India. Historically, it has been a part of the Kuru region in North India. The name Haryana is found mentioned in the 12th century AD by the apabhramsha writer Vibudh Shridhar . It is bordered by Punjab and Himachal Pradesh to the north, and by Rajasthan to the west and south...
Former Board of Directors= - Dr. G.P. Shah
- Dr. D.P. Gangola
- Mr. Devi Lal Sah
- Mr. M.L. Sah
- Mr. Manohar Lal Sah