Banks of India

Banks of India

The main national specialized development banks are:

Industrial Development Bank of India (IDBI)

Industrial Finance Corporation of India (IFCI)

Industrial Credit and Investment Corporation of India (ICICI)

State Industrial Development Corporations (SIDCs)

Industrial Reconstruction Bank of India (IRBI)

Small Industries Development Bank of India (SIDBI)

Shipping Credit and Investment Corporation of India (SCICI)

Infrastructure Development Finance Company (IDFC)

Indian Railway Finance Corporation (IRFC)

Power Finance Corporation

Tourism Finance Corporation of India (TFCI)

Other Banks Are

Other specialized public enterprises offer investment and insurance services. The Unit Trust of India (UTI) offers individuals a variety of mutual fund investments. The Life Insurance Corporation of India (LIC) has a monopoly on writing life insurance in India. The General Insurance Corporation (GIC) of India and its subsidiaries have the monopoly on casualty (fire, theft, etc.) Insurance services.

Indian Banks Abroad

Indian commercial banks are also operating in foreign countries. These branches are spread over a number of countries and located in major centers like London, New York, Paris, Tokyo, Singapore and Bahrain. These branches specialize in various areas of international trade including financing of foreign trade.

Important addresses

Export Import Bank of India (EXIM)

Post Bag 16100, Centre 1, 21st Floor, World Trade Centre, Cuffe Parade Mumbai - 400 005.

Ph : 218 1727 Fax : 218 8077

Regional Office : Jeevan Bharati Building, Tower I, 8th Floor, 124, Connaught Circus, New Delhi.

Ph : 332 6375 Fax : 332 2758, 332 1719

Mr. S. Sridhar

Regional Resident Representative

Reserve Bank of India (RBI)

Exchange Control Department, Overseas Investment Branch,

Amar Bldg., 5th Floor,

P.O.Box : 1055, Fort, Bombay.

Ph : 022 - 266 1644 Fax : 022 - 265 4121