Delhi is not only a political and cultural centre but also a thriving hub for various industries, including banking. The city’s vibrant economy significantly impacts the real estate market, driving the demand for commercial and residential properties.
See also: Top 10 hospitals in Delhi-NCR
Business landscape in Delhi
Delhi boasts a diverse economic landscape, with a significant presence in sectors such as information technology, manufacturing, healthcare and banking. The city hosts several central banks and financial institutions, underlining its importance as a financial centre.
Top banks in Delhi
State Bank of India (SBI)
Industry: Banking
Company Type: Public Sector
Location: Sansad Marg, New Delhi
Founded on: July 1st, 1955
State Bank of India, established in 1955, stands as one of the country’s oldest and most influential banks. Its headquarters in Sansad Marg, New Delhi, operates as a public sector bank, providing a wide array of financial services. SBI’s extensive network of branches and ATMs caters to the diverse banking needs of individuals, businesses, and institutions. It is pivotal in Delhi’s financial landscape, contributing significantly to its economic growth.
Punjab National Bank (PNB)
Industry: Banking
Company Type: Public Sector
Location: Sansad Marg, New Delhi
Founded on: May 19th, 1894
Punjab National Bank, founded in 1894, has been a cornerstone of India’s banking sector for over a century. Located on Sansad Marg, New Delhi, PNB operates as a public sector bank. With a rich heritage and a comprehensive range of banking products and services, PNB serves as a reliable financial partner for millions of customers in Delhi. Its widespread presence reflects its commitment to facilitating economic prosperity in the city.
HDFC Bank
Industry: Banking
Company Type: Private Sector
Location: Connaught Place, New Delhi
Founded in: 1994
HDFC Bank, established in 1994, is a leading private sector bank headquartered in Connaught Place, New Delhi. HDFC Bank has become a preferred choice for individuals and businesses alike because of its customer-centric approach and innovative banking solutions. Its dynamic range of services, including retail banking, corporate banking and wealth management, plays a vital role in shaping Delhi’s financial landscape.
ICICI Bank
Industry: Banking
Company Type: Private Sector
Location: Barakhamba Road, New Delhi
Founded in: 1994
ICICI Bank, founded in 1994, is a prominent private sector bank on Barakhamba Road, New Delhi. With a strong focus on technological advancements and customer convenience, ICICI Bank has earned a reputation for being at the forefront of digital banking in India. Its diverse portfolio of products and services caters to the evolving financial needs of Delhi’s dynamic population.
Axis Bank
Industry: Banking
Company Type: Private Sector
Location: Nehru Place, New Delhi
Founded in: 1993
Axis Bank, established in 1993 and located in Nehru Place, New Delhi, has emerged as a key player in India’s banking sector. As a private sector bank, Axis Bank is known for its innovative financial solutions and customer-centric services. The bank’s robust presence in Delhi underscores its role in supporting the city’s economic activities.
Bank of India (BOI)
Industry: Banking
Company Type: Public Sector
Location: Parliament Street, New Delhi
Founded in: 1906
Bank of India, founded in 1906 and headquartered in Parliament Street, New Delhi, has been a leading player in the public sector banking space. It has provided a wide spectrum of financial services to individuals, businesses and government entities. BOI’s enduring legacy and commitment to financial inclusion have significantly contributed to Delhi’s economic development.
Central Bank of India
Industry: Banking
Company Type: Public Sector
Location: Chandni Chowk, New Delhi
Founded in: 1911
Central Bank of India, established in 1911 and situated in Chandni Chowk, New Delhi, is one of India’s oldest public sector banks. Over the years, it has been crucial in fostering economic growth by offering a comprehensive suite of banking products and services. The bank’s steadfast presence continues to be a pillar of support for Delhi’s financial ecosystem.
Kotak Mahindra Bank
Industry: Banking
Company Type: Private Sector
Location: DLF Towers, New Delhi
Founded in: 2003
Kotak Mahindra Bank, founded in 2003 and located in DLF Towers, New Delhi, has swiftly risen to prominence in the private sector banking space. Known for its innovative financial solutions and customer-centric approach, Kotak Mahindra Bank has become a trusted partner for individuals and businesses seeking comprehensive banking services.
Canara Bank
Industry: Banking
Company Type: Public Sector
Location: Parliament Street, New Delhi
Founded in: 1906
Canara Bank, with its origins dating back to 1906, operates from Parliament Street, New Delhi. As a distinguished public sector bank, Canara Bank has played a pivotal role in serving the banking needs of Delhi’s diverse population. Its wide range of financial products and services has contributed significantly to the city’s economic landscape.
Union Bank of India
Industry: Banking and Financial Services
Company Type: Public Sector Bank
Location: Parliament Street, New Delhi, India
Founded in: 1919
Union Bank of India, a distinguished public sector bank headquartered in Parliament Street, New Delhi, has been a cornerstone of India’s banking landscape since its establishment in 1919. As a leading player in the banking and financial services sector, Union Bank serves a diverse clientele with a comprehensive range of banking products and services. With a strong commitment to technological advancement and community development, Union Bank continues to be a trusted financial partner for millions of customers across India.
Commercial real estate demand of Banks in Delhi
Office space: Banks in Delhi create a strong demand for office spaces, reflecting the city’s status as a thriving financial hub. Financial institutions, driven by their need for accessible and efficient operations, seek prime locations for their offices. The quest for spacious and technologically-equipped workspaces is met with a robust real estate market that offers a diverse range of options. From modern high-rises to bespoke corporate spaces, Delhi’s real estate sector is poised to meet the distinctive requirements of these institutions.
Rental property: The presence of major banks in Delhi significantly impacts the city’s rental property market. This is especially seen in the bustling central business districts, where the demand for rental spaces experiences an upswing. Businesses and professionals gravitate towards these areas for their accessibility and prestige. This trend increases the demand for a variety of rental properties, including commercial spaces for branches, corporate offices and auxiliary services. As a result, property developers and landlords in these popular locations can benefit from this surge in demand, presenting a good opportunity in the real estate landscape.
Impact of banks in Delhi
The banking sector in Delhi plays a pivotal role in driving the city’s economic growth. It provides crucial financial services to individuals, businesses and industries, contributing significantly to the overall development of the capital.
FAQs
How many banks are there in Delhi?
Eighty-four scheduled commercial banks were operating in Delhi.
Which bank is the biggest in India?
The State Bank of India is the largest in India by total assets, while HDFC Bank tops the list in terms of market capitalisation.
Which is the oldest bank in Delhi?
The Central Bank of India is one of the oldest banks in Delhi, established in 1911.
What types of services do banks in Delhi offer?
Banks in Delhi offer a wide range of services, including savings and current accounts, loans, investments and financial advisory.
Are there international banks operating in Delhi?
Yes, Delhi is home to several international banks that provide a range of global financial services.
How do banks impact the real estate market in Delhi?
Banks significantly influence the real estate market by driving demand for commercial spaces and contributing to the property sector's growth.
Which bank has the largest network of branches in Delhi?
The State Bank of India (SBI) has an extensive network of branches in Delhi, covering various neighbourhoods.
Do banks in Delhi offer specialised services for businesses?
Yes, many banks in Delhi provide specialised services tailored to the needs of businesses, including corporate banking, trade finance and SME solutions.
How do banks contribute to the economic development of Delhi?
Banks facilitate economic development by financing businesses, supporting investments and encouraging savings and investments.
Can individuals open accounts in multiple banks in Delhi?
Yes, individuals can open accounts in multiple banks in Delhi, allowing them to avail of various banking services.
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