RBL Full Form Friends, in this article, we’ll look at the full form of the RBL. RBL is a Maharashtra-based private sector scheduled commercial bank with headquarters in Kolhapur. It is one of India’s oldest private banks, having been founded in August 1943. It has 372 branches and 394 ATMs serving over 3.5 million people.
Its mission is to identify, establish, and sustain long-term relationships with customers, employees, and investors based on trust and respect. In collaboration with CDC, RBL Bank conducts Saksham, a financial education initiative that provides education in Ahmedabad and Madhya Pradesh communities. Mr. Vishwavir Ahuja is the MD and CEO of RBL as of March 2020.
RBL Full Form
Ratnakar Bank Limited is the full form of RBL. This is a business bank. Its headquarters are in the Maharashtra state of India, in the Kolhapur region. It is India’s oldest private bank, having been founded in August 1943. It now has a network of 245 branches and 374 ATMs that serve over 3.5 million customers. It has six verticals that offer a comprehensive range of banking products and services, as listed below:
- Banking services
- Banking for Agribusiness
- Business & Branch Banking
- Banking for Corporations and Institutions
- Financial Inclusion and Development Banking
- Operations in the Treasury and Financial Markets
RBL: Ratnakar Bank Limited
It aims to be the Bank of Choice by cultivating and maintaining long-term relationships with customers, staff, and investors based on trust and respect. As of 2017, Mr. Vishwavir Ahuja is the current MD and CEO of RBL Bank.
RBL Bank’s History
Ratnakar Bank was founded in August 1943. Ratnakar Bank was founded in Maharashtra as a regional bank with two branches in Kolhapur and Sangli. In the Kolhapur-Sangli belt, it mostly served small and medium businesses as well as trading merchants.
Ratnakar Bank Limited was established on June 14, 1943, in the Kolhapur area. According to the RBI Act of 1934, the bank was categorized as a Scheduled Commercial Bank in 1959. It was known as NH4 Bank during this decade. The Reserve Bank of India granted it a banking license in 1970. (RBI). Vishwavir Ahuja was appointed Managing Director and CEO of the bank in July 2010. In August of that year, the bank’s name was changed to RBL Bank Limited.
RBL’s products and services include the following:
- Banking for Non-Resident Indians
- Fixed-Income Investments
- Accounts of Savings
- Services for Investments
- Insurance and loans
- Cards (debit and credit)
- Banking via mobile and the internet
RBL Bank Fun Facts
- It has 372 branches and 394 ATMs in 28 states and union territories as of December 2019. It employs 5,843 people.
- RBL Bank had a good year in 2016. In conjunction with CDC CDC, RBL Bank developed Saksham Saksham, a financial literacy program that will educate 25,000 people in 300 villages across four Madhya Pradesh districts.
- RBL Bank raised a total of Rs 4,000 crore from investors throughout the year 2010. In 2011, it raised Rs 700 crore, in 2013, Rs 376 crore, in 2014, Rs 328 crore, and in 2016, it raised Rs 488 crore. RBL Bank gained board clearance to raise an additional Rs 1680 crore in July 2017.
- RBL Bank had a good year in 2018. RBL Bank and MoneyTap teamed up to launch India’s first personal credit line-based app.
- The company declared in June 2018 that it had raised its investment in Microlender Swadhar Finserve to 100%.
- RBL Bank has a customer base of around 7.8 million people.
- RBL Bank is a bank based in the United Kingdom RBL Bank is traded on both the NSE and the BSE.
- This bank is making great strides. Mr. Vishwavir Ahuja is the bank’s Managing Director and CEO at the moment. He has worked in this bank for around 35 years.
- RBL Bank is one of the fastest-growing financial institutions. They are gradually establishing their banks around the country. Its bank currently has 9.63 million customers and 429 locations across the country. They also have over 412 ATMs spread across the country. Village education is supported by this bank. As a result, he established the Saksham initiative in Ahmedabad and several Madhya Pradesh villages. Through this effort, he hoped to educate 25,000 people. This initiative was carried out in over 300 villages.
- The Centers for Disease Control and Prevention (CDC) aided him in this endeavor. Vishwavir Ahuja is the current CEO of this bank.
- RBL Bank partnered with MoneyTap to develop a personal credit line-based app in 2018.
What was the total amount of money raised by RBL Bank?
With the support of investors, this bank was able to raise at least Rs 4,000 crore in 2010. Investors put in 700 crores in 2011, 376 crores in 2013, 328 crores in 2014, and 488 crores in 2016, while the bank received 1680 crores in 2017. In 2019, the company raised 675 crores in investment. He raised 1566 crores in 2020.
Who put money into RBL Bank?
- The CDC Group is a non-profit organization dedicated to
- Alternate Asset Management in Multiples
- Asian Development Bank is a financial institution based in Asia.
- East Bridge Capital Master Fund is a master fund managed by East Bridge Capital.
- Baring Private Equity Asia WF Asian Reconnaissance Fund
- ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life Insurance Company Limited)
- Gaza is the capital of Gaza.
- The RBL Awards are given to individuals who have made significant contributions to the
- At the Asia Money Best Bank Awards, he was named Best Bank for Microfinance Microfinance.
- At the Money Today Financial Awards, he received the Best Small Bank Award.
- Asian Bankers honored him with the “Asian Banker Financial Technology Innovation” award.
- Similarly, if this bank continues to grow, it will eventually be recognized as a large bank.