Synopsis: State Bank Essay examples

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BACHELOR OF BUSINESS ADMINISTRATION
(Synopsis for the Winter Project)

1. NAME: – Sumit Naveen

2. ROLL NO.: – 1210101174

3. DEPARTMENT: – B.B.A

4. SEMESTER: – 6th

5. SESSION: – 2014-2015

6. UNIVERSITY: – Invertis University

7. INSTITUTE: – Invertis Institute of Management Studies

8. COMPANY: – State Bank of India & ICICI Bank

9. PROPOSED PROJECT TOPIC: – Comparative study on the Financial Performance of SBI & ICICI Bank

PROJECT GUIDE: – Mr. Rajeev Singh Bhandari

INTRODUCTION

The banking sector mirrors the larger economy – its linkages to all sectors make it a proxy for what is happening in the economy as a whole. Efficient functioning of banking sector is required for the growth of overall economy. Banking plays a silent, yet crucial role in our day-to-day lives. The banks work as financial intermediaries, pooling savings and channelizing them into investment, helps in economic development of a country.

A banking system also referred as a system provided by the bank which offers cash management services for customers, reporting the transactions of their accounts and portfolios, throughout the day. The banking system in India should not only be hassle free but it should be able to meet the new challenges posed by the technology and any other external factors. For the past three decades, India’s banking system has several outstanding achievements to its credit. The banks are the main participants of the financial system in India.

The banking sector offers several facilities and opportunities to their customers. All the banks safeguard the money and valuables and provide loans, credit, and payments services, such as checking accounts, money orders, and cashier’s cheques. The banks also offer investment and insurance products. As a variety of models for cooperation and integration among finance industries have emerged, some of the traditional distinctions between banks, insurance companies, and securities firms have diminished. In spite of these changes, banks continue to maintain and perform their primary role- accepting deposits and lending funds from these deposits.

The efficient working of banking system leads to survival of any country. The banking system of India is featured by a large network of bank branches, serving many kinds of financial needs of the people.

The State Bank of India, popularly known as SBI is one of the leading banks in India. The State Bank Group, with over 16,000 branches provides a wide range of banking products through its vast network of branches in India and overseas, including products aimed at Non-Resident Indians (NRIs).

Headquarter of SBI is at Mumbai. SBI has 14 Local Head Offices and 57 Zonal Offices that are located at important cities throughout the country. It also has around 130 branches out of the country.

The State Bank of India was constituted on 1st July 1955, pursuant to the State Bank of India Act, 1955 (the "SBI Act") for the purpose of creating a state-partnered and state-sponsored bank integrating the former Imperial Bank of India. In 1959, the State Bank of India (Subsidiary Banks) Act was passed, enabling the Bank to take over eight former state associated banks as its subsidiaries.

ICICI Bank is an Indian multinational bank and financial services company headquartered in Mumbai. Based on 2013 information, it is second largest bank in India by assets and third largest by market capitalisation.

It 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 in the areas of investment banking, life and non life insurance, venture capital and asset management. The Bank has a network of 3,350 branches and 10,486 ATM’s in India, and has a presence in 19 countries. ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab National Bank and Canara
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