Banks play an important role in the economy by offering a service for people wishing to save. Banks play an important role in offering finance to businesses that wish to invest and expand. These loans and business investments are important for enabling economic growth.
The largest public sector bank in India is the State Bank of India (SBI). As the Bank of Calcutta, it was the first bank to be founded in India. Following the merger of its five affiliate banks and Bharatiya Mahila Bank, the bank. The headquarters is in Mumbai. Currently operates in 36 countries and has over 24,000 branches. 59,000+ ATMs, and 195 international offices (as of 1st April 2017). Savings accounts, credit cards, fixed deposits, and personal loans. Services like house loans, business loans, debit cards, gold loans, and other products.
In India, HDFC Bank is regarded as one of the top financial institutions. Incorporated in August 1994 with its headquarters in Mumbai. HDFC Bank has 5,130 branches and 13,395 ATMs spread over 2,764 cities and towns (as of June 30, 2019). As listed below, the bank provides a vast array of banking and financial services.
As of March 31, 2018, ICICI Bank had consolidated assets totaling Rs. 11,242.81 billion, making it the largest private sector bank in India. The World Bank took the initiative to form ICICI Bank in 1955. To develop a financial institution to offer long-term project finance. In 1999, ICICI Bank became the first Indian business. And the first bank from Asia outside of Japan to list on the New York Stock Exchange. ICICI Capital Services Limited amalgamated with ICICI Bank in October 2001.
Since its founding in 1865, HSBC has grown to become one of the biggest providers of banking services. It has a network of over 40 million people and operates in 65 countries and territories. The bank has territory throughout North America, America, Europe, Asia, and Africa. The bank provides a broad array of services, including loans, credit cards, debit cards, etc.
The third-largest private sector bank doing business in India is Axis Bank. The bank was founded in 1993, and it started running in 1994. Axis Bank has a vast nationwide network of 4,050 domestic branches, 11,801 ATMs, and 4,917 cash recyclers. The bank has nine worldwide offices spread out over the world. It includes branches in Singapore, Dubai, and Colombo, as representative offices in Dhaka.
Valid foreign passport.
Valid Indian visa ( it should be a long-term visa: valid for more than 182 days).
Copy of Foreigners Registration Office (FRO) permit.
Overseas address proof.
Indian address proof.
- Nationality of India.
- The applicant must be at least 18 years old to be eligible.
- Legal guardians can open an account on their behalf if the child is the intended beneficiary.
- The applicant must provide valid government-approved identification and evidence of address.
Documents Required to Open an Account
Two recent passport-size photos
Documents proving your address and identity. Only one copy is required if the document is included under both address and identification evidence.
If the addresses are different, you must supply address-proof documentation. Documentation for both your mailing address and your permanent address.