Apna Sahakari Bank Limited, Model Co-Op. Bank Ltd,Bhagini Nivedita Sahakari Bank Ltd,The Zoroastrian Co-operative Bank Ltd,SVC Co-Operative Bank Ltd & Abhudyaya Co- operative Bank Ltd are the final six nominees for the coveted “Indian Affairs Most Promising & Best Managed Co-operative Bank 2018 Category” at ILC Power Brand Awards 2018’s Annual Edition.
Banking in India originated in the last decade of the 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1832 and the General Bank of India, established in 1786 but failed in 1791. The largest bank, and the oldest still in existence, is the State Bank of India.Today, our banking system is divided into commercial banks, regional rural banks and cooperative banks. Commercial banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner, thereby making the overall economy more efficient.India requires stability, efficient service delivery, inclusion and a monetary policy transmission from our banking system. Recognising this need, the Government has, over the years, introduced various reforms to strengthen the banking system and make it more robust.India Leadership Conclave 2018 present six finalists for the coveted Indian Affairs Most Promising & Best Managed Co-operative Bank 2018. The final winner will be announced in a glittering power packed assembly of more than 350 industry leaders, business tycoons, policy makers, diplomats, politicians,reformers at Hotel Sahara Star on 6th July 2018.
Indian Affairs Most Promising & Best Managed Co-operative Bank 2018 Nominees
1.Apna Sahakari Bank Limited
2.Model Co-Op. Bank Ltd
3.Bhagini Nivedita Sahakari Bank Ltd
4.The Zoroastrian Co-operative Bank Ltd
5.SVC Co-Operative Bank Ltd
6.Abhudyaya Co op Bank Ltd
The Indian banking system consists of 27 public sector banks, 26 private sector banks, 46 foreign banks, 56 regional rural banks, 1,574 urban cooperative banks and 93,913 rural cooperative banks, in addition to cooperative credit institutions. Public-sector banks control more than 70 per cent of the banking system assets, thereby leaving a comparatively smaller share for its private peers. Banks are also encouraging their customers to manage their finances using mobile phones. As the Reserve Bank of India (RBI) allows more features such as unlimited fund transfers between wallets and bank accounts, mobile wallets are expected to become strong players in the financial ecosystem. The unorganised retail sector in India has huge untapped potential for adopting digital mode of payments, as 63 per cent of the retailers are interested in using digital payments like mobile and card payments, as per a report by Centre for Digital Financial Inclusion (CDFI). As per the Reserve Bank of India (RBI), India’s banking sector is sufficiently capitalised and well-regulated. The financial and economic conditions in the country are far superior to any other country in the world. Credit, market and liquidity risk studies suggest that Indian banks are generally resilient and have withstood the global downturn well. Indian banking industry has recently witnessed the roll out of innovative banking models like payments and small finance banks. RBI’s new measures may go a long way in helping the restructuring of the domestic banking industry.
Rated by Experts & widely acclaimed by thought leaders, India Leadership Conclave Annual Affair is just not a leadership forum, it symbolizes the hopes & aspirations of the billion people reflected by the speakers at the forum. “ILC POWER BRANDS” has been rated in Asia as the most credible & coveted Awards developed by Network 7 Media Group consisting of eminent jury members of the different verticals of the society & are conferred to the Individuals & Companies in its annual meet at the Indian affairs India Leadership Conclave & Indian Affairs Business Leadership Awards. Since the institutionalization of the Business Leadership Awards in 2010, India Leadership Conclave & Indian Affairs Business Leadership Awards has been India’s most awaited & asia’s most respected set of Awards conferred to Companies & Individuals who have made their mark through their remarkable performances despite all odds & has made India Proud!. Since the last eight successful years, the platform has recognized, felicitated more than 300 fortune 500 Companies & towering captains & Leaders of the Country.