The IndusInd bank is a commercial private bank which was set up in the year of 1994 by the then Honorable Finance minister, Manmohan Singh. It has derived its name from the famous Indus Valley Civilization. The bank started its work with a net capital of 1 billion rupees. Today the bank has more than 1000 branches and more than 1800 ATM’s all over the country.
IndusInd bank ranks 19 in the list of 50 most valuable Indian Banks in 2014. Since its inception, the bank has continuously shown its efforts towards brand building by investing in numerous advertisement and marketing programs. In fact, it is known for its various programs for being both innovative as well as far-sighted.Some of it unique programs include 365 days banking, cash on mobile, check on cheque, direct connect etc. The bank has a “video branch” by which customers can do video conference with the bank’s stuff.
How To Link Aadhaar Card With IndusInd Bank Account
The Government of India has recently made it mandatory to link Aadhaar with all bank accounts. This step has been taken with the view of better identification of the all account holders and also to do away with fake accounts. There are various avenues by which Aadhaar can be linked with IndusInd Bank account. The steps of various methods are mentioned below:
Link Aadhaar with IndusInd Bank Account Offline
In order to link Aadhaar with the bank account, the account holder must carry both the photocopy as well as the original copy of the Aadhaar card and the bank passbook. He or she must also carry the form to link Aadhaar with the bank account. This form is available on the official website of the bank. One must first download it and then take a print of the same to the bank branch. The following steps must be taken compete for the linking process offline:
- Visit the nearest branch of the IndusInd Bank.
- Submit the form which you have downloaded earlier to the bank authorities. All the details in the form must be filled and then submitted.
- After this, the bank authorities might ask for the documents for verification.
- Once the verification process is completed all documents will be handed back to the account holder.
- After the successful completion of the verification process, the account will be manually linked with Aadhaar card by the bank authorities.
- Once the linking process is completed a confirmation email or SMS about the same will be sent to the registered mobile number or email id.
Link Aadhaar with IndusInd Bank Account Online
In order to link Aadhaar with bank account online, one must first create his or her user id and password in the bank’s official website and must know the 12 digit Aadhaar number. The following steps must be taken to complete the linking process:
- Visit the official website of IndusInd Bank.
- Now, log in using your user id and password.
- After this, click on the link “Registration of Aadhaar number in internet banking”.
- Enter the 12 digit Aadhaar number in the appropriate field provided for it.
- Now, confirm the Aadhaar number again and then click on “submit”.
Link Aadhaar with IndusInd Bank Account via SMS
Customers can also link Aadhaar with their IndusInd bank account by sending a simple SMS from the mobile number which they have registered with the bank. To avail this service they must first register themselves with the bank for bank alerts.The SMS must be sent in the following format:
- Type the keyword “Aadhaar” and send it to 56161.
- bOnce the Aadhaar is successfully linked, an SMS will be sent to the registered mobile number about the same.
Link Aadhaar with IndusInd Bank Account via ATM
The following steps must be taken to link Aadhaar with the bank account via ATM
- Visit your nearest IndusInd ATM.
- Select “Aadhaar registration” under “service” category.
- Enter the Aadhaar number twice in the ATM.
- Once Aadhaar is successfully linked a receipt will be produced confirming the Aadhaar request by the customer.
It must be noted that after using any of the above methods an SMS or email will be sent to the registered mobile number or email id once the linking process is completed to confirm about the same.
The full form of HDFC is Housing Development Financial Corporation. This is banking and a financial institution having its headquarters in Mumbai, Maharashtra.
The bank has a successful network of 4727 branches with 12,220 ATMs across 2,666 cities/towns and has over 84, 325 employees. The HDFC Bank was incorporated in the year 1994 and its first corporate office with a full-service branch is located at Worli, Mumbai and it was inaugurated by Dr. ManMohan Singh, the Union Finance Minister.
The bank has its branches in Bahrain, Hong Kong, and Dubai. Let’s peep into the timeline of the HDFC Bank.
- 1994- The bank was first incorporated by Housing Development Financial Corporation. The bank was the first one to receive an approval from the Reserve Bank of India.
- 1995- The Bank commenced operations as a Scheduled Commercial Bank.
- 1996- The bank was appointed as the clearing bank by the National Securities Clearing Corporation Ltd. (NSCCL)
- 1997- The bank launched retail investment advisory services.
- 1998- The bank launched their first retail lending product, loans against shares.
- 1999- Launched real-time net banking.
- 2000- The Times Bank Ltd. Owned by Bennett, Coleman merged with the HDFC Bank. This was the first merger of the two private banks,
- 2001- The bank started the Credit Card Business and it became the first private sector bank to get authorized by the Central Board of Direct Taxes (CBDT) as well as the RBI to accept direct taxes.
- 2001-02- The bank entered in the list of New York Stock Exchange. It is also tied up with LIC and introduced the online payment facility for paying an insurance premium to the customers.
- 2002-03- The bank introduced more ATMs and branches and expanded their presence in the merchant acquiring business.
- 2003-2004- The bank expanded the distribution network of branches from 231 to 312 and 732 to 910 number of ATMs. In 2001, they also introduced Housing Loan Business and started selling HDFC Home Loan Product.
- 2005-2006- The bank launched no-frills account, this is a basic savings account that is offered to the customers.
- 2006-2007- The bank introduced direct lending to the Self Help Groups. They also started an individual branch for lending the Self Help Groups in Thudilayur Village (Tamil Nadu). The bank increased their stake in HDFC securities from 29.5% to 55%. Later HDFC Securities became the subsidiary of the bank.
- 2007-2008- HDFC Financial Services became the subsidiary company and opened 19 branches in a day in Delhi and National Capital Region (NCR).
- 2008-2009- The bank merged with Centurion Bank of Punjab and started to effect from May 23rd, 2008.
- The bank also opened their first overseas branch in Bahrain. The bank offers different banking services including the treasury and trade finance products for the corporate clients and the wealth- management products for the Non-resident India.
- 2009-11- The bank opened around 1725 branches in 779 cities and the ATMs increased from 4,232 to 5, 471.
Awards and Achievements
- The bank also received “The Best Banking Performer” in India in the year 2016 by Global Brands Magazine.
- Received best-performing branch in Microfinance in the year 2016 by NABARD.
- Received Bank of the year and best bank in Digital Marketing Initiative Award 2016.
Bank of Baroda is an Indian state-owned International Banking and Financial Services company. The bank has its headquarters in Vadodara which was earlier called as Baroda, in Gujarat. It has a corporate office in Mumbai. The Bank was found by the Maharaja of Baroda, Maharaja Saiyajirao Gaekwad III on 20th of July 1908 in the Princely State. The Bank of Baroda is one of the leading commercial banks in India.
The Bank provides personal banking which includes deposits, Gen-next services, retail loans, credit cards, debit cards, services and lockers etc. It also provides business banking which includes deposits, loans and advances, services and lockers; Corporate banking which includes wholesale banking, deposits, loans and advances and services and International Business which includes Non-Resident Indian Services, Foreign Currency Credits, Off-shore Banking, Export Finance, Import Finance, Correspondent Banking, Trade Finance and International Treasury.
The Bank also offers some other services like Domestic Operations and Forex Operations. They also provide the rural bank services which includes deposits, priority sector advances, remittance, collection services, pension and lockers. The bank also offers fee based services like cash management and remittance services. The bank opened its first branch in the year 1919 in Mumbai and the first International Branch was opened on 1953 in Mombasa, Kenya.
- The bank opened three branches in Fiji, Five Branches in Kenya, three branches in Uganda and one each in London and Guyana.
- In the year 1958, Hind Bank merged with Bank of Baroda.
- In 1962, the New Citizen Bank merged with the Bank of Baroda.
- In the year 1964, the Umargaon People’s Bank and Tamil Nadu Central Bank combined with the Bank of Baroda.
- On July, 1969 the Bank was nationalized and changed its name from Bank of Baroda Ltd. To Bank of Baroda.
- The Bank opened three branches in Mauritius, two branches in UK and one branch in Fiji.
- In 1974, the Bank opened two branches in UAE, one at Dubai and another at Abu Dhabi.
- In the year 1976, the Bank sponsored the first of their 19 Regional Rural Banks.
- In 1977, then opened Gram Vikas Kendra (GVK) an innovative model for integrated rural development.
- In 1984, the Bank launched their credit card options.
- In the year 1988, the Traders Bank merged with the Bank.
- The Bank established Housing Finance Subsidiary in 1991. They also introduced subsidiaries for business of credit cards (BOBCARDS), asset management (BOB AMC) and capital market activities.
- In December 1996, the Bank entered the capital market with an initial market offering.
- In the year 1997, the Bank opened a new branch in Durban.
- In 1999, the Bank commenced operations as depository. In the same year, the Bareilly Corporation Bank merged with the Bank of Baroda.
- In the year 2000, the Bank appointed Arthur Andersen India Pvt Ltd as the risk management consultant for setting up a Comprehensive Risk Management Architecture for the Bank.
- In the year 2001, they established Separate Risk Management Department and specialized Integrated Treasury Branch.
- In the year 2002, the Benares Bank merged with Bank of Baroda.
- In 2004, the South Gujarat Local Area Bank merged with the Bank of Baroda.
- In June 1st 2004, the Bank signed a MoU with National Insurance Company Ltd.
- In 2004-05, the Bank expanded the network with an ATM network to cross 501, which is spread over 180 centers in the country.
- The Bank also introduced 8 AM to 8 PM banking, at 101 branches and 24 Hour Banking at 5 branches.
- They also introduced Multicity Cheque Facility.
- In the year 2006, the Bank introduced an Offshore Banking Unit in Singapore.
- They introduced around 464 ATMs across the country which later increased to 634 ATMs.
- In April 2007, the Bank opened Gen-Next, which is a Youth Oriented Bank.
- In May 2007, the Bank signed an agreement with Dun & Bradstreet (D&B) to assign ratings to the small-scale industrial banks.
- They also launched sale of Gold Coins during the year.
- The bank opened eight new Urban Retail Loan Factories at Powai, Bareilly, Mumbai, Agra, Bhopal, Nagpur, Ernakulam, Jodhpur and Noida.
- They also launched new Loan products called Loan for Earnest Money Deposit, Baroda Additional Assured Advance to NRIs, Baroda Bachat Mitra and Special Home Loan Package.
- The Bank signed a MoU with a number of car manufacturing companies like Maruti Suzuki Pvt Ltd., Tata Motors, Hyundai etc. for boosting up Auto Loan portfolio.
- Tied up with Kotak Mahindra Bank for providing Life Insurance Cover to Education Loan Borrowers and Home Loan Borrowers.
- The bank opened four new branches in Guangzhou, China; Electronic Banking Unit at Musaffah, UAE and branches of Subsidiaries at Kawempe (Uganda) and Nakuru (Kenya).
- On 20th July 2008, the Online Home Loan Facility was made available with status tracking option.
- The Bank opened six new Retail Loan Factories at Chandigarh, Gamdevi, Patna, Coimbatore, Ranchi and Allahabad.
- In June 22nd 2009, the Bank introduced a new reengineering restructuring Business project called Navnirmaan-Baroda Next.
- In Sept 2009, the Bank brought all the branches on CBS Platform to start Banking anytime and anywhere to all its customers.
- All the branches started to provide e-banking services as well as electronic fund transfer facilities like NEFT and RTGS.
- In October 2009, the Bank launched new Subsidy linked Housing Loan scheme under the Banks Home Loan Product styled as Interest Subsidy Scheme for Housing the Urban Poor (ISHUP).
- On November 2009, the Bank entered into Life Insurance Business, and introduced a Joint Venture Life Insurance Company called India First Life Insurance Co. Ltd.
- In the year 2010, the Bank received a Commercial Banking License from Malaysia to a locally incorporated bank, namely India BIA Bank (Malaysia) to be jointly owned by The Bank of Baroda, The Indian Overseas Bank and Andhra Bank.
- The bank also opened a new Branch in Auckland, New Zealand and tenth branch in the United Kingdom.
- In July 2010, the Bank signed an agreement with UIDAI to act as a registrar for the project. The Bank will join the UIDAI Team to collect the Biometric and Demographic information of their customers.
- In Aug 2010, the bank signed an Memorandum of Co-operation with the Dubai Multi Commodities Centre Authority to enhance the trade flows in Dubai.
- The Bank opened 7 new branches in Ilford, Essex UK and 5 Electronic Banking Service Units in UAE in Rakia, Ras Al Khaimah, Al Quaismas, Dubai, Sh. Zayed Road Dubai and National Paints Sharjah.
- During the year, the Bank launched a new Retail Asset Product styled as Baroda Traders Loan against the Security of Gold Ornaments/ Jewelries.
- During the year, the Bank opened a new Gen-next branch in NOIDA and now the total number of Gen Next Branches is eight. Also, they opened five new Retail Loan Factories at Karol Bagh New Delhi, Raipur, Ludhiana and Nasik, whereas one existing RLF at Jodhpur was closed.
- In January 15, 2011, the Bank launched two new Retail Liability Products under Savings Bank Segment called as Baroda Pensioners Savings Account and a Life Insurance linked Savings product styled as Baroda Jeevan Suraksha Savings Account under a partnership with India’s First Life Insurance Company.
- The subsidiaries in Uganda, Kenya and New Zealand will be opening two branches each and in Botswana and Guyana, one additional branch will be opened.