FACTS ABOUT BANKING SECTOR IN KERALA

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  • First registered bank in Kerala is Thiruvithamkoor Permanent Fund (1910).
  • First private bank in Kerala is Nedungadi Bank. It was the started by Appu Nedungadi in 1899, which was founded at Kozhikode. It got registered as a joint-stock company only in 1913. It merged with Punjab National Bank in 2003.
  • The Travancore Bank started in Central Travancore by Kandathil family in 1893. It is the first public sector commercial bank.
  • Thayyil Bank and Thiruvalla Bank were the two old banks in Travancore.
  • The first bank registered in Malabar is Chalapuram Bank Ltd. in 1906 followed by Calicut Bank Ltd., in 1908.
  • When the Reserve Bank of India was established in 1933, only two Travancore banks - the Travancore National Bank and the Quilon Bank were classified as scheduled banks in Travancore. These two banks were amalgamated in September 1937, to form the Travancore National and Quilon Bank Ltd. (TNQBL). This was the biggest locally owned private bank in the State. TNQBL reached the first position in having the largest number of branch offices in India.
  • In 1940, 5 scheduled banks operated in Kerala. They are Nedungadi Bank (Kozhikode), Palai Central Bank (Kottayam, 1927), South Indian Bank (Trichur, 1929), Travancore Forward Bank (Kottayam, 1929) and Indo- Mercantile Bank (Cochin, 1937).
  • The State Bank of India (SBI), Canara Bank and Syndicate Bank are the principal nationalised banks in Kerala.
  • State Bank of Travancore was established in 1945 as the Travancore Bank Ltd. at the initiative of C.P.Ramaswami Iyer. Its registered office was at Madras. In 1960, it became a subsidiary bank of State Bank of India formed according to SBI subsidiary Banks Act, 1959, passed by the Parliament of India.
  • First bank that installed ATM in Kerala is HSBC (British Bank of Middle East).
  • First Floating ATM in the world is State Bank of Travancore (SBT) between Cochin and Vypin.
  • First 'total banking state' is Kerala and First 'total banking district' is Palakkad.
  • Types of banks in Kerala are Public Sector banks, Private sector banks and Co-operative Banks.
  • Three tiers of the co-operative banking structure are State, District and the Local Primary banks.
  • Private Banks in kerala are ICICI Bank, HDFC, HSBC, UTI Bank, Indus Ind Bank, Centurion Bank of Punjab and The Karur Vysya Bank Ltd etc.
  • First Private Bank to get the approval of RBI is HDFC.
  • Second largest bank in India is ICICI Bank.
  • Foreign Banks in kerala are ABN AMRO. Citi bank, HSBC and Standard Chartered Bank, DBS Bank, Abudhabi Commercial Bank, American Express Bank, A.N.Z.
  • Convener bank of the State-level Bankers' Committee is Canara Bank.
  • Kerala now tops the Index of Financial Inclusion (IFI) prepared by the Reserve Bank of India.
  • Vysya Bank merged with Indonesian Norway Group Bank changed the name as ING Vysya.