RBL bank was earlier known as The Ratnakar Bank. There are six sectors that the bank operates its business through viz, Corporate & Institutional Banking, Branch & Business Banking, Treasury and Financial Markets Operations, Retail Assets, Commercial Banking and Development Banking and Financial Inclusion.
It services to over 4.9 million customers through a web of 266 branches and 369 ATMs extending to almost twenty Indian states and Union Territories.
The bank was established in the year of 1943 and is headquartered at Mumbai, Maharashtra.
About Company Information:
Founded in 1943, RBL Bank began a slow journey in 2010, under a new team. In 2013, Ratnakar Bank declared openly that it had gained the Royal Bank of Scotlands Business Banking business, Credit Cards business & Mortgage portfolio. The bank expected to fulfil the wants of clients after this enhancement.
In 2014, the bank declared Rs.328 crore capital input in the global companies to be successful. These new funds would elevate the semi-urban and rural areas. The scheme allowed the bank to reach places that are new to the concept of banking and the digitizing of money. The name of the bank was altered from Ratnakar Bank to its existing name RBL Bank in 2014.
In 2015, RBL Bank declared culmination mind several investing companies. New and fresh equity was raised for the objective of improving the capital raise after new investment in the modern sectors, clear the pending debts and to acknowledge the RBIs Basel III guidelines.
In 2016, RBL Bank's preliminary public issue was subscribed over 70 times. I'm 2016; the bank raised capital of Rs.330 crores from the UK-based company CDC by Basel III compliant Tier II capital. This collaboration helped the bank to reach various areas in India. The bank started following a strategic decision in reaching the unbanked regions of the country and creating portfolios for the Utkarsh customers who were the first generation bankers. UMFL received approval from the bank to set up outlets for these activities. This was a strategic decision of the bank, which helped it to reach nooks and corners of rural India and attract customers. On 7 October 2016, RBL Bank, NeoGrowth Credit Pvt. Ltd. and OPIC together decided to achieve financial outlets in the prevailing Retail market in the business world of India. SMEs do not get easy funding from commercial banks because of their low capital. On 28 November 2016, RBL Bank and Bajaj Finance Ltd, got I to a joint venture plan for providing cards for the Indian citizens. This decision brought the customers of RBL and Bajaj Finances together and further expanded the business of both the banks. On 30 November 2016, RBL Bank became the first bank in India to inaugurate APBS for micro-financing loans. This was achieved by introducing cashless transactions in rural areas.
On 6 April 2017, RBL Bank proclaimed the inauguration of its IBU at GIFT City. This began RBL's offshore banking schemes. It made way for the International facilities for the clients of RBL and gave the bank a global platform. RBL Bank will put up foreign currency to meet its prerequisites in IBU and fund offshore deputies of Indian companies, and competent Indian companies. On 27 November 2017, the Bank announced that its stake has increased from 30% to 60.48% in SFPL- a correspondent involved in offering employment to the financial segment dealing with MSME & Micro banking in semi-urban and rural areas.
On 28 June 2018, RBL Bank declared that it had acquired a 100% stake in SFPL. RBL Bank has introduced this extra stake from investors, including nonprofit Accion, which has been extremely vital in creating Swadhaar into one of India's most efficient lenders for impoverished and undeserving clients. It is the last hope for every low-income household or small scale business plans.
How RBL Bank Ltd, is categorised as Banks Sector, and Finance Industry :
The Financial Industry is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
The main sectors that are into the Financial industry are,
Accounting and Bookkeeping.
Financial Markets and Planning.
Banking and General Financial Services.
Mortgage and Financial Broking.
Insurance and Superannuation.
Specialised Financial Services.
RBL Bank Ltd comes under the Banking sector. The banking sector is one of the active areas in India, which makes a significant portion of the growth of a country’s GDP. The banking sector in India is of great importance in Asia and also throughout the World because of its steady performance in the market.
RBL Bank Ltd, Competitors and Sector Peers:
Bank of Maharashtra BANK5
Central Bank of India CENTRB
Indian Overseas Bank INDOVE
Oriental Bank of Commerce ORIBAN
Punjab National Bank PUNNAT
State Bank Of Bikaner and Jaipur [Merged] STABAN
State Bank of India STATEB
State Bank Of Mysore STATE3
State Bank of Travancore [Merged] STATE6
Union Bank of India UNIBAN
United Bank of India UNITBA