Department Of Commerce, Industry & Employment: M.P.

Industrial Development Infrastructure.Entrepreneurship Development..Industry friendly Atmosphere.Single Window clearanceSelf employment.. Financial Assistance & Concessions..Marketing Assistance.Testing, Tooling Facilities.Revival of Sick Industries.Special Package..Mega Projects..Special Economic Zone..Food ParksGarment Complex, Apparel Park.Integrated Infrastructure Development Centers (IIDC's).

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MP at a Glance / Financial Institutions

FINANCIAL INSTITUTIONS

Introduction

Various financial Institutions including banks in Madhya Pradesh play a significantly important role in the rapid industrialization of the country as well as the state; removing economic imbalances and strengthening and developing the economy of the state.

These institutions provide financial assistance for the installation/expansion /modernisation of large, medium as well as small, cottage and rural industries.

The financial institutions/banks also provide security and attractive incentives to the people on their savings and deposits. In addition the Life Insurance Corporation (LIC) and General Insurance Corporation provide security of insurance to the people and their property, respectively.

The banks, financial institutions and LIC thus play a vital role in the all-round development of the state by providing help for implementation of various development schemes.

Important Financial Institutions in Madhya Pradesh :

Canara Bank

Canara Bank is one of the premier banks in the country, accredited with umpteen distinctions. The present stature of the Bank is due to its strong fundamentals and quality customer orientations. Profit making since inception, the Bank today epitomizes a perfect blend of commercial and social banking.

For the year March 2002, the Bank clocked the highest net profit (Rs.741 crore) among nationalized banks, with significant improvement in capital adequacy ratio (11.88%) and asset quality (net NPA ratio of 3.89%).

For more details please visit : www.canbankindia.com

Corporation Bank

Corporation Bank is an organisation established in 1906 based on the traditional Indian values of service to the community and is regarded as one of the well-run banks in the comity of Public Sector Banks in the country. The Bank has a unique history of 97 years of successful Banking and it stood the test of time by growing steadily offering vast, varied and versatile services with a personal touch. Today, its good customer service, pre-eminent track record in House Keeping, adherence to Prudential Accounting norms, consistent profitability and adoption of modern technology for betterment of customer service have earned the Bank a place of pride in the Banking Community. The Bank has been richly endowed with a relatively young, dynamic and efficient manpower, which is the key factor of the Bank's success. Excellence in performance and uniqueness in customer service form the central core of the Bank's organisational culture.

For more details please visit : www.corpbank.com

Indian Bank

Established on 15th August 1907 as part of the Swadeshi movement. Serving the nation with a team of over 22000 dedicated staff. Global deposits rose to Rs. 30444 Crores as on 31.03.2004 Global credit increased to Rs. 14935 Crores as on 31.03.2004. 1377 Branches spread all over India.

Loan products like Artisan Card, Kisan Card, Kisan Bike Scheme, Yuva Kisan Vidya Nidhi Yojana to meet diverse credit needs of farmers.

Provision of technical assistance and project reports in Agriculture to entrepreneurs through Agricultural Consultancy & Technical Services (ACTS). 2 Specialised Agricultural Finance branches to finance High Tech Agricultural Projects.

For more details please visit : www.indian-bank.com

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Indian Overseas Bank

Indian Overseas Bank (IOB) was founded on February 10th 1937, by Shri.M.Ct.M. Chidambaram Chettyar, a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.

IOB had the distinction of being the first Bank in Banking Industry to obtain ISO 9001 Certification for its Computer Policy and Planning Department from Det Norske Veritas (DNV), Netherlands in September 1999. This Certification covers Design, Development, Implementation and Maintenance of software developed in-house, procurement and supply of hardware and execution of turnkey projects.

For more details please visit : www.iob.com

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IndusInd Bank Ltd.

IndusInd Bank comes into existence in 1994-95. Launched its revamped Internet Banking product (Indusnet) and website in 2002-03. ISO 9001:2000 certification for all its branches. Customers to have access to more then 1700 ATMs -Tie-up with Corporation Bank and UTI Bank for sharing ATM network.

Its mission is to emerge as an international bank with traditional roots, to acquire global capabilities, to provide world-class services, to maintain the highest standards of professionalism and integrity.

For more details please visit : www.indusind.com

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Syndicate Bank

Syndicate Bank was established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician - who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the handloom industry through mobilising small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank's brand equity today and the Bank collects around Rs. 2 crore per day under the scheme.

The progress of Syndicate Bank has been synonymous with the phase of progressive banking in India. Spanning over 75 years of pioneering expertise, the Bank has created for itself a solid customer base comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grassroot realities, the Bank's perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos.

For more details please visit : www.syndicatebank.com

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State Bank of Travancore

State Bank of Travancore (SBT) was originally established as Travancore Bank Ltd. in 1945 sponsored by the erstwhile Princely State of Travancore. Under a special statute of the Indian Parliament (SBI subsidiary Banks Act 1959) it has been made an Associate of the State Bank of India and a member of the State Bank Group, the largest banking group in India.

Being a public sector bank, we are committed to the policies of the Government for social development. We offer credit to the priority sectors and also the special schemes announced by the Government.

For more details please visit : www.statebankoftravancore.com

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Union Bank Of India

The bank was incorporated as a limited company on 11th November, 1919 with its registered office at 7, Marzban Road, Bombay it was shifted to its own premises at Apollo Street, Fort, Bombay - 400 001 in 1921. Inaugurated by Mahatma Gandhi and today it occupies enviable position amongst Nationalised Bank.

At the time Nationalisation i.e June 1969, it had 240 branches. Since then, the branch network had grown substantially across the country with presence in 28 states, including union territories. As on 31st March 2001, Bank has network 2053 branches - 843 Rural, 447 Semi-urban, 423 Urban and 340 Metropolitan branches.

For more details please visit : www.unionbankofindia.com

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UCO Bank

Founded in 1943, UCO Bank is a commercial bank now wholly owned by the Government of India. Its Board of Directors consists of government representatives from the Government of India and Reserve Bank of India as well as eminent professionals like accountants, management experts, economists, businessmen, etc.

Headquartered in Kolkata, the Bank has 34 Regional Offices spread all over India. Branches located in a geographical area report to the Regional Office having jurisdiction over that area. These Regional Offices are headed by Senior Executives ranging upto the rank of General Manager, depending on size of business and importance of loacation. The Regional Offices report to General Managers (Operation) functioning at Head Office in Kolkata.

For more details please visit : www.ucobank.com

Small Industries Development Bank Of India [SIDBI] SIDBI has been set up by the Government of India with its headquarters in Lucknow, Uttar Pradesh, as the principal financial institution for promotion, financing and development of industries in the small scale sector and to coordinate functions of the institutions engaged in similar activities. SIDBI aim is to serve as the principal financial institutions for promotion financing and development of industry in the small scale sector and to co-ordinate the functions of the institutions engaged in promoting, financing or developing industry in the small scale sector. For more details please visit : www.sidbi.com
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Industrial Development Bank of India IDBI was a wholly owned subsidiary of RBI up to February 1976. It was delinked from RBI w.e.f. February 1976 and was made an autonomous corporation fully owned by the Government of India. The IDBI is the apex financial institution and besides providing financial assistance on consortium basis, the major function of coordination between the various institutions is looked after by the bank. It also provides refinance facility to the eligible financial institutions including term loans. The bank sanctions the financial assistance to the industrial concerns engaged in the manufacture or processing of goods, mining, transport generation and distribution of power etc. both in private and public sectors. There is no restriction on the quantum of assistance or the maximum or minimum limits. IDBI finances new projects/ expansions/ diversification/ modernizations of projects whose cost exceeds Rs.30 million, it also gets indirectly involved in the projects costing less than Rs. 30 million, as it provides refinance facility to the primary lending institutions i.e. SFC/SIDC/Commercial Banks etc. For more details please visit : www.idbi.com
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Industrial Finance Corporation of India The Industrial Finance Corporation of India (IFCI) was established on July 1, 1948, as the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector. The newly-established DFI was provided access to low-cost funds through the central bank's Statutory Liquidity Ratio or SLR which in turn enabled it to provide loans and advances to corporate borrowers at concessional rates. IFCI has fulfilled its original mandate as a DFI by providing long-term financial support to all segments of Indian Industry. It has also been chiefly instrumental in translating the Government's development priorities into reality. Until the establishment of ICICI in 1956 and IDBI in 1964, IFCI remained solely responsible for implementation of the government's industrial policy initiatives. Its contribution to the modernization of Indian industry, export promotion, import substitution, entrepreneurship development, pollution control, energy conservation and generation of both direct and indirect employment is noteworthy. For more details please visit : www.ifciltd.com
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National Bank For Agriculture And Rural Development (NABARD) NABARD is established as a development Bank, in terms of the Preamble of the Act, "for providing and regulating Credit and other facilities for the promotion and development of agriculture, small scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto." NABARD: (i) serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas; (ii) takes measures towards institution building for improving absorptive capacity of the credit delivery system, including monitoring, formulation of rehabilitation schemes, restructuring of credit institutions, training of personnel, etc. ; (iii) co-ordinates the rural financing activities of all institutions engaged in developmental work at the field level and maintains liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation; and (iv) undertakes monitoring and evaluation of projects refinanced by it. For more details please visit : www.nabard.org
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ICICI Bank ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICI Bank is India's second-largest bank with total assets of about Rs.112,024 crore and a network of about 450 branches and offices and about 1750 ATMs. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital, asset management and information technology. For more details please visit : www.icicibank.com
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State Bank of India State Bank of India was constituted on 1 July 1955. More than a quarter of the resources of the Indian banking system thus passed under the direct control of the State. Later, the State Bank of India (Subsidiary Banks) Act was passed in 1959, enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries (later named Associates). The Bank is actively involved since 1973 in non-profit activity called Community Services Banking. All the branches and administrative offices throughout the country sponsor and participate in large number of welfare activities and social causes. Business is more than banking because we touch the lives of people anywhere in many ways. For more details please visit : www.statebankofindia.co


Other Banks	Top
City Bank http://www.online.citibank.co.in/
Centurion Bank http://www.centurionbank.com
HDFC http://www.hdfcbank.com
Standard Charter Bank http://www.standardchartered.com/in/
Punjab National Bank http://www.pnbindia.com/
Bank of India http://www.bankofindia.com/home/
Oriental Bank of Commerce http://www.obcindia.com/
Allahabad Bank http://www.allahabadbank.com/
Bank of Baroda http://www.bankofbaroda.com/
Andhra Bank http://www.andhrabank-india.com/
Punjab & Sindh Bank http://www.psbindia.com/
Central Bank of India http://www.centralbankofindia.co.in
Dena Bank http://www.denabank.com
State Bank of Indore http://www.indorebank.org
State Bank of Maharashtra
State Bank of Saurashtra http://www.sbsbank.com/index.asp
Regional Rural Banks
Cooperatives Banks

M P Financial Corporation

M P Financial Corporation has been providing financial assistance to industrial units in the state of Madhya Pradesh for the last five decades. It has been extending wide ranging fund and non fund based services. A number of new schemes for providing financial assistance and services to industries, professionals and other business associates have been successfully introduced by the corporation.

Fund based schemes are available for setting up industrial/business ventures within the state of Madhya Pradesh.

Whereas, non fund based schemes are available throughout India.

For more details please visit: http://www.mpfc.org