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Global Trust Bank (India)
Global Trust Bank (India) (GTB) was founded on 21 October 1994 and commenced operations at Secunderabad. Its founders included Ramesh Gelli (its first Chairman), Sridar Subasri, and Jayant Madhob, among others. The bank introduced a number of technology-based innovations and responsive service.Sridar (2004). GTB was involved in the stock market scam of 2001, that the stockbroker Ketan Parekh ran. GTB lent heavily to individuals speculating in the stock market; when the market crashed the bank suffered extensive losses. One consequence was that merger talks with UTI Bank fell through. The Reserve Bank of India (RBI) forced Gelli to resign. Gelli's successor resigned after six months, and Gelli's son joined the board of directors. In 2004, Gelli briefly returned to the bank in February 2004 before being again forced to resign. RBI examined GTB's accounts for 2001-2 and found that GTB's net worth had turned negative, but did not close the bank. GTB did not address its problems. Inste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secunderabad
Secunderabad, also spelled as Sikandarabad (, ), is a twin cities, twin city of Hyderabad and one of the six zones of the Greater Hyderabad Municipal Corporation (GHMC) in the States and union territories of India, Indian state of Telangana. It is the headquarters of the South Central Railway zone. Named after the Mir Akbar Ali Khan Sikander Jah, Asaf Jah III, Nizam of Hyderabad, Nizam of the Asaf Jahi dynasty, Secunderabad was established in 1806 as a British cantonment. Although both the cities are together referred to as the twin cities, Hyderabad and Secunderabad have different histories and cultures, with Secunderabad having developed directly under British rule until 1948, and Hyderabad as the capital of the Nizams' Hyderabad State, princely state of Hyderabad. Geographically divided from Hyderabad by the Hussain Sagar lake, Secunderabad is no longer a separate municipal unit and has become part of Hyderabad's Greater Hyderabad Municipal Corporation. Both cities are collec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ramesh Gelli
Ramesh Gelli is an Indian banking executive who served as the Chairman and Managing Director (CMD) of Vysya Bank and was a promoter and CMD of Global Trust Bank. Gelli set up GTB in 1993 along with Jayant Madhab, a top official of the Asian Development Bank. In 2001, Gelli was removed from his position of CMD of GTB and later from its board by India's banking regulator, the Reserve Bank of India (RBI) following a failed merger attempt. In 2004, GTB operations were halted by the RBI as GTB had accumulated non-performing assets in excess of permissible levels and its net worth turned negative, amidst accusations of mismanagement and reckless lending practices. GTB was then merged with the Oriental Bank of Commerce by the regulator.Marcello (2004). Gelli is an engineering graduate from Osmania University and he holds a degree in management from the Asian Institute of Management, where he graduated at the top of his class. He worked at the Andhra Pradesh State Finance Corporatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ketan Parekh
Ketan Parekh is a former stockbroker from Mumbai, who was convicted in 2008 for involvement in the Indian stock market manipulation scam that occurred from late 1998 to 2001. During this period, Parekh artificially rigged prices of certain chosen securities (informally referred to as K-10 stocks), using large sums of money borrowed from banks including the Madhavpura Mercantile Co-operative Bank, of which he himself was a director. After so many investigations by Securities and Exchange Board of India, Parekh and his front entities were found guilty of rigging share prices of ten companies called K-10 and SEBI had banned Parekh and associated firms from trading in the market for 14 years. Early career Parekh, after becoming a Chartered Accountant, started his career in the late 1980s at Narbheram Harakchand Securities (NH Securities), a reputed institutional brokerage firm. In the 90s, he came in contact with Harshad Mehta, a well known stock broker and subsequently joined Me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UTI Bank
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses. As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group ( United India Insurance Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited, New India Assurance Company Ltd, GIC, LIC and UTI). The remaining 69.19% shares are owned by mutual funds, FIIs, banks, insurance companies, corporate bodies and individual investors. History The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai. The bank was promoted jointly by the Administrator of the Unit Trust of India (UTI), Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The O ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reserve Bank Of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Nashik (Western India) and Dewas (Central India). RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Newbridge Capital
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth capital, venture capital, stock, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, mass media, media and telecommunications, industrials, technology, travel, leisure, and health care. The firm was founded in 1992 by David Bonderman, James Coulter (financier), James Coulter, and William S. Price III and has raised $50 billion of investor commitments across more than 18 private equity funds.Source: Preqin Private equity funds TPG has historically relied primarily on private equity funds, pools of committed capital from pension funds, insurance, insurance companies, financial endowment, endowments, fund of funds, high-net-worth individuals, sovereign wealth funds, and from other instit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Finance Corporation
The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development. The IFC's stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private-sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable. Since 2009, the IFC has focused on a set of development goals that it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oriental Bank Of Commerce
Oriental Bank of Commerce (OBC) was an Indian public sector bank headquartered at Gurgaon, Haryana. It had 2390 branches and 2625 ATMs across India. In April 2020, the bank along with United Bank of India has been merged with Punjab National Bank, making the latter the second-largest public sector bank in India. History Its earliest date of incorporation per the Registrar of Companies is 1901. Rai Bahadur Lala Sohan Lal the first Chairman of the Bank, founded OBC in 1943 in Lahore. Within four years of its coming into existence, OBC had to face Partition. The bank had to close down its branches in the newly formed Pakistan and shift its registered office from Lahore to Amritsar. Lala Karam Chand Thapar, the then Chairman of the Bank, in a unique gesture honoured the commitments made to the depositors from Pakistan and paid every rupee to its departing customers. The Bank has witnessed many ups and downs since its establishment. The period of 1970–76 is said to be the most ch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of India
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1994
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 2004
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
