Best answer: Is South Indian Bank A govt bank?

South Indian Bank Limited (SIB) is a major private sector bank headquartered at Thrissur in Kerala, India. South Indian Bank has 924 branches, 4 service branches, 53 extension counters and 20 Regional Offices spread across India.

Is South Indian Bank Govt or private?

About Us | Leading Private Bank in India – South Indian Bank.

Is South Indian Bank part of SBI?

South Indian Bank in association with SBI Cards has launched Co-branded Credit Card named as South Indian Bank- SBI CREDIT CARD.

Which Indian Bank is government bank?

State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra.

Is South Indian bank safe?

Are my deposits in banks safe? Yes, of course. They are quite safe. Thanks to strong regulation and supervision by Reserve Bank of India and system of internal control of banks, they are well capitalized, well managed and effectively regulated.

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Who owns South bank?

Southern Bank is a wholly owned subsidiary of Southern BancShares (N.C.), Inc. With its Corporate Headquarters located in Mount Olive, the Bank has total assets over $4 billion,and over 60 locations throughout eastern North Carolina and Virginia.

Is South Indian Bank good bank?

South Indian Bank. Delhi: South Indian Bank was awarded ‘Best MSME Bank’ among Private Sector banks, by Associated Chambers of Commerce and Industry of India (ASSOCHAM). The award was bestowed on SIB in connection with the ‘7th MSMEs National Excellence Awards -2019’ by ASSOCHAM.

Is South Indian Bank merged?

South Indian Bank (SIB) has set a three-year deadline to acquire or merge with another private bank. “At SIB we intend to initiate the process of M&A next fiscal and the target is to complete the process within the next three years “” 2008,” explained A Setumadhavan, chairman and chief executive officer, SIB.

Which bank merged with South Indian Bank?

SIB shares ended almost flat at Rs 69.60 on the Bombay Stock Exchange on Tuesday. subsequently merged with bigger banks. The latest was the merger of United Western Bank with IDBI.

Is South Indian Bank Safe 2021?

So, Kotak Bank, HDFC Bank, RBL Bank, ICICI Bank, Axis Bank, and IndusInd Bank are said to be ‘safe’, while Federal Bank, Karur Vysya Bank, Karnataka Bank, Dhanlaxmi Bank and South Indian Bank are in the ‘red zone’.

Which is the best govt bank in India?

Best Public Sector (PSU) Banks in India 2022

List of PSU Banks Number of Branches
State Bank of India (SBI) 24000
Punjab National Bank (With Merger of Oriental Bank of Commerce and United Bank of India) 11437
Bank of Baroda (With Merger of Dena Bank & Vijaya Bank) 8581
Canara Bank (With Merger of Syndicate Bank) 10391
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Which banks are private and government?

List of all Public and Private Sector Banks in India 2022

  • Bank of Baroda. 1908. Vadodara, Gujarat.
  • Bank of India. 1906. Mumbai, Maharashtra.
  • Bank of Maharashtra. 1935. Pune, Maharashtra.
  • Canara Bank. 1906. Bengaluru, Karnataka.
  • Central Bank of India. 1911. …
  • Indian Bank. 1907. …
  • Indian Overseas Bank. 1937. …
  • Punjab and Sind Bank. 1908.

How many govt banks are there in India in 2021?

After a series of mergers, the number of public sector banks has come down to 12, from 27 in 2017. Following are the 12 government-owned banks in India in 2021.

Which is safest bank in India?

SBI, HDFC and ICICI are the safest banks by virtue of being declared too big to fail by RBI. It doesn’t hurt that they are also financially healthy as well.

Why is South Indian Bank in loss?

Private sector lender South Indian Bank reported Rs 50.3 crore net loss in the December quarter, owing to fall in both interest income and other income while its asset quality deteriorated sharply. The loss was however 45 per cent less compared to the year ago period’s loss of Rs 91.6 crore.

What is the future of South Indian Bank?

South Indian Bank has announced its Vision 2024, which will focus on 6Cs including capital, CASA, cost-to-income, competency building, customer focus, and compliance. Capital remains one of the most important pillars of this strategy and SIB aims to shore-up its capital base over the near term.