Banking Institutions and History

Rabo Bank (Rabobank) was one of the initial foreign promoters of Yes Bank.

IDBI Bank Ltd was merged with IDBI (the financial institution) and subsequently underwent changes in its status with the RBI.

Standard Chartered Bank has historically been the largest foreign bank in India by branch network.

The merger of Union Bank of Switzerland (UBS) and Swiss Bank Corporation (SBC) resulted in the formation of UBS AG, commonly referred to as the United Bank of Switzerland in older contexts.

As of the time this question was framed, there were 42 foreign banks operating in India. These banks operate through branches and representative offices. The number fluctuates over time as new banks enter or existing ones exit. The other numbers (27, 31, 53) are not accurate.

ICICI Bank sold its stake in Federal Bank to the International Finance Corporation (IFC) as part of its strategic divestment.

HSBC launched the home banking service that included cash delivery, a pioneering service for foreign banks in India at the time.

HSBC is widely recognized for introducing the first international credit card in India.

Punjab National Bank (PNB) was the first public sector bank in India to introduce a Voluntary Retirement Scheme (VRS) for its employees to optimize its workforce.

State Bank of India (SBI) was the first public sector bank to enter the retail stock broking business, leveraging its massive branch network and customer base.

State Bank of India (SBI) received the license from the Saudi Arabian Monetary Agency (SAMA) to open its operations in Saudi Arabia, catering primarily to the Indian diaspora.

Corporation Bank was the first bank in India to introduce the retail sale of gold coins, tapping into the Indian market's affinity for gold as an investment.