Monday, September 12, 2011
List of Top 10 Banking Companies in India
State Bank of India
| No. of offices | 11447 |
| No. of employees | 205896 |
| Business per employee (in ` lakh) | 556.00 |
| Profit per employee (in ` lakh) | 4.74 |
| Capital and Reserves & surplus | 57948 |
| Deposits | 742073 |
| Investments | 275954 |
| Advances | 542503 |
| Interest income | 63788 |
| Other income | 12691 |
| Interest expended | 42915 |
| Operating expenses | 15649 |
| Cost of Funds (CoF) | 5.85 |
| Return on advances adjusted to CoF | 3.83 |
| Wages as % to total expenses | 16.64 |
| Return on Assets | 1.04 |
| CRAR | 14.25 |
| Net NPA ratio | 1.76 |
HDFC Bank
| No. of offices | 1400 |
| No. of employees | 52687 |
| Business per employee (in ` lakh) | 446.00 |
| Profit per employee (in ` lakh) | 4.18 |
| Capital and Reserves & surplus | 14652 |
| Deposits | 142812 |
| Investments | 58818 |
| Advances | 98883 |
| Interest income | 16332 |
| Other income | 3291 |
| Interest expended | 8911 |
| Operating expenses | 5533 |
| Cost of Funds (CoF) | 6.83 |
| Return on advances adjusted to CoF | 8.12 |
| Wages as % to total expenses | 15.50 |
| Return on Assets | 1.28 |
| CRAR | 15.69 |
| Net NPA ratio | 0.63 |
Axis Bank
| No. of offices | 786 |
| No. of employees | 20624 |
| Business per employee (in ` lakh) | 1060.00 |
| Profit per employee (in ` lakh) | 10.02 |
| Capital and Reserves & surplus | 10215 |
| Deposits | 117374 |
| Investments | 46330 |
| Advances | 81557 |
| Interest income | 10835 |
| Other income | 2897 |
| Interest expended | 7149 |
| Operating expenses | 2858 |
| Cost of Funds (CoF) | 5.88 |
| Return on advances adjusted to CoF | 4.69 |
| Wages as % to total expenses | 9.97 |
| Return on Assets | 1.44 |
| CRAR | 13.69 |
| Net NPA ratio | 0.40 |
Bank of India
| No. of offices | 2934 |
| No. of employees | 40155 |
| Business per employee (in ` lakh) | 833.00 |
| Profit per employee (in ` lakh) | 7.49 |
| Capital and Reserves & surplus | 13495 |
| Deposits | 189708 |
| Investments | 52607 |
| Advances | 142909 |
| Interest income | 16347 |
| Other income | 3052 |
| Interest expended | 10848 |
| Operating expenses | 3094 |
| Cost of Funds (CoF) | 5.79 |
| Return on advances adjusted to CoF | 4.00 |
| Wages as % to total expenses | 13.90 |
| Return on Assets | 1.49 |
| CRAR | 13.01 |
| Net NPA ratio | 0.44 |
Punjab National Bank
| No. of offices | 4323 |
| No. of employees | 54780 |
| Business per employee (in ` lakh) | 654.92 |
| Profit per employee (in ` lakh) | 5.64 |
| Capital and Reserves & surplus | 14654 |
| Deposits | 209760 |
| Investments | 63385 |
| Advances | 154703 |
| Interest income | 19326 |
| Other income | 2920 |
| Interest expended | 12295 |
| Operating expenses | 4206 |
| Cost of Funds (CoF) | 6.05 |
| Return on advances adjusted to CoF | 4.62 |
| Wages as % to total expenses | 17.72 |
| Return on Assets | 1.39 |
| CRAR | 14.03 |
| Net NPA ratio | 0.17 |
Bank of Baroda
| No. of offices | 2916 |
| No. of employees | 36838 |
| Business per employee (in ` lakh) | 914.00 |
| Profit per employee (in ` lakh) | 6.05 |
| Capital and Reserves & surplus | 12836 |
| Deposits | 192397 |
| Investments | 52446 |
| Advances | 143986 |
| Interest income | 15092 |
| Other income | 2758 |
| Interest expended | 9968 |
| Operating expenses | 3576 |
| Cost of Funds (CoF) | 5.36 |
| Return on advances adjusted to CoF | 3.58 |
| Wages as % to total expenses | 17.34 |
| Return on Assets | 1.09 |
| CRAR | 14.05 |
| Net NPA ratio | 0.31 |
ICICI Bank Limited
| No. of offices | 1408 |
| No. of employees | 34596 |
| Business per employee (in ` lakh) | 1154.00 |
| Profit per employee (in ` lakh) | 11.00 |
| Capital and Reserves & surplus | 49883 |
| Deposits | 218348 |
| Investments | 103058 |
| Advances | 218311 |
| Interest income | 31093 |
| Other income | 7604 |
| Interest expended | 22726 |
| Operating expenses | 7045 |
| Cost of Funds (CoF) | 5.97 |
| Return on advances adjusted to CoF | 4.09 |
| Wages as % to total expenses | 6.62 |
| Return on Assets | 0.98 |
| CRAR | 13.96 |
| Net NPA ratio | 2.09 |
Union Bank of India
| No. of offices | 2569 |
| No. of employees | 29014 |
| Business per employee (in ` lakh) | 694.00 |
| Profit per employee (in ` lakh) | 6.28 |
| Capital and Reserves & surplus | 8740 |
| Deposits | 138703 |
| Investments | 42997 |
| Advances | 96534 |
| Interest income | 11889 |
| Other income | 1483 |
| Interest expended | 8076 |
| Operating expenses | 2214 |
| Cost of Funds (CoF) | 6.15 |
| Return on advances adjusted to CoF | 4.27 |
| Wages as % to total expenses | 11.19 |
| Return on Assets | 1.27 |
| CRAR | 12.01 |
| Net NPA ratio | 0.34 |
Citibank
| No. of offices | 41 |
| No. of employees | 4795 |
| Business per employee (in ` lakh) | 1880.10 |
| Profit per employee (in ` lakh) | 45.12 |
| Capital and Reserves & surplus | 11518 |
| Deposits | 51677 |
| Investments | 24519 |
| Advances | 39920 |
| Interest income | 6840 |
| Other income | 3582 |
| Interest expended | 2429 |
| Operating expenses | 2587 |
| Cost of Funds (CoF) | 3.57 |
| Return on advances adjusted to CoF | 9.04 |
| Wages as % to total expenses | 17.56 |
| Return on Assets | 2.12 |
| CRAR | 13.23 |
| Net NPA ratio | 2.63 |
Canara Bank
| No. of offices | 2740 |
| No. of employees | 44090 |
| Business per employee (in ` lakh) | 780.17 |
| Profit per employee (in ` lakh) | 4.97 |
| Capital and Reserves & surplus | 12208 |
| Deposits | 186893 |
| Investments | 57777 |
| Advances | 138219 |
| Interest income | 17119 |
| Other income | 2311 |
| Interest expended | 12401 |
| Operating expenses | 3065 |
| Cost of Funds (CoF) | 6.75 |
| Return on advances adjusted to CoF | 3.69 |
| Wages as % to total expenses | 12.14 |
| Return on Assets | 1.06 |
| CRAR | 14.1 |
| Net NPA ratio | 1.09 |
Best Credit Cards in India
In a developing country like India, credit cards usage is gradually leaping. Several banks and financial organizations are offering credit cards to their customers. Different people want different services from a credit card. Choosing the best credits cards in India is very critical decision. First of all, you need to understand your wants and needs before signing up for a credit card.
Credit cards let you borrow money from your financial organization. The cardholder can shop with the card to his heart's content but he needs to pay back all his debts within the prescribed time. This is the primary condition of a credit card. Some credit card companies give 30-days time to clear all the debts. If you falter to pay back the debt, you have to face the financial barriers. There are some parameters to check before landing on the most suitable credit card for you. If your concern is budget, your choice f credit cards will be different from the lavish spenders. Given below are some of the best credit cards in India:
Standard Chartered Credit cards: Standard Chartered offers a number of credit cards for various people. They can choose the best one according to their affordability and needs. Some best credits cards offered by Standard Chartered are:
Platinum Elite Card
Super Value Titanium Card
Platinum Rewards Card
Emirates Platinum Card
Preferred World Credit Card
Gold Rewards Card
Manhattan Platinum Card
Super Value Titanium Card by Standard Chartered offers cash back rewards. This credit card lets the cardholder save a lot. The cardholder can save up to 5 percent on every payment. This credit card is ideal for those, who are looking for a tight budget credit card.
Standard Chartered Emirates Platinum Credit Card is one of those credit cards offered by Standard Chartered, which is suitable for those who love lavish shopping. This card comes with 25000 airline miles as bonus on first usage of the card. Among the other benefits, the cardholder can earn 4 airline miles after spending 150 ` with the card.
ICICI Bank Credit Cards: ICICI credit cards are various kinds of cards, which can cater for different people. Some of the most sought credit cards offered by ICICI are:
Signature Credit Card
British Airways American Express Green Credit Card
Singapore Airlines VISA Platinum Credit Card
Platinum Identity Credit Card
Kingfisher Airlines MasterCard
Ascent American Express® Cards
HPCL Titanium Credit Card
Instant Gold Credit Card
Instant Platinum credit card
If you want budget credit cards, ICICI Bank American Express Green Credit Card is best for you. This card gives one reward point to the cardholder on his every 40 ` Signature Credit Cards by ICICI bank are ideal for those who want to spend lavishly.
Apart from these two banks, Citibank credit cards are also popular in India. All these credit cards can be accessed 24*7 and can be use overseas.
Credit cards let you borrow money from your financial organization. The cardholder can shop with the card to his heart's content but he needs to pay back all his debts within the prescribed time. This is the primary condition of a credit card. Some credit card companies give 30-days time to clear all the debts. If you falter to pay back the debt, you have to face the financial barriers. There are some parameters to check before landing on the most suitable credit card for you. If your concern is budget, your choice f credit cards will be different from the lavish spenders. Given below are some of the best credit cards in India:
Standard Chartered Credit cards: Standard Chartered offers a number of credit cards for various people. They can choose the best one according to their affordability and needs. Some best credits cards offered by Standard Chartered are:
Platinum Elite Card
Super Value Titanium Card
Platinum Rewards Card
Emirates Platinum Card
Preferred World Credit Card
Gold Rewards Card
Manhattan Platinum Card
Super Value Titanium Card by Standard Chartered offers cash back rewards. This credit card lets the cardholder save a lot. The cardholder can save up to 5 percent on every payment. This credit card is ideal for those, who are looking for a tight budget credit card.
Standard Chartered Emirates Platinum Credit Card is one of those credit cards offered by Standard Chartered, which is suitable for those who love lavish shopping. This card comes with 25000 airline miles as bonus on first usage of the card. Among the other benefits, the cardholder can earn 4 airline miles after spending 150 ` with the card.
ICICI Bank Credit Cards: ICICI credit cards are various kinds of cards, which can cater for different people. Some of the most sought credit cards offered by ICICI are:
Signature Credit Card
British Airways American Express Green Credit Card
Singapore Airlines VISA Platinum Credit Card
Platinum Identity Credit Card
Kingfisher Airlines MasterCard
Ascent American Express® Cards
HPCL Titanium Credit Card
Instant Gold Credit Card
Instant Platinum credit card
If you want budget credit cards, ICICI Bank American Express Green Credit Card is best for you. This card gives one reward point to the cardholder on his every 40 ` Signature Credit Cards by ICICI bank are ideal for those who want to spend lavishly.
Apart from these two banks, Citibank credit cards are also popular in India. All these credit cards can be accessed 24*7 and can be use overseas.
List of Credit Cards in India
Credit cards or plastic money is slowly and steadily replacing the paper currency in India these days. The young and dynamic workforce that is hugely responsible for driving the Indian economy are the major credit card holders in the country. Call it style statement or anything else the trend of carrying bundles of notes is no more in fashion. People simply prefer a plastic card than physical money.
In the current scenario the major credit card providers in India are ICICI, Standard Chartered HDFC and HSBC. Known for providing value added services along with customer-favorable credit card deals these banks are said too have the highest number of credit card users in the country. According to recent statistics the number of credit card holders in India has exceeded 27 million.
Most of the banks and financial concerns in India offer different kinds of credit cards for different segments of customers. However an ideal credit card is that which offers the best services, suits all your needs and most importantly charges low interest.
List of Credit Card issuing Banks in India
Below is a list of the popular Credit Card issuing Banks in India
ICICI Bank, HDFC, American Express, ABN Amro, Axis Bank, Bank of Baroda, Canara Bank, SBI, Citibank, HSBC, Deutsche Bank, Barclays Bank, Citibank, Standard Chartered and Kotak Mahindra.
Types of credit cards in India
Gold Credit Cards, Silver Credit Cards, Premium Credit Cards, Business Credit Cards, Cash Back Credit Cards, Airline Credit Cards, Low Interest Credit Cards, Balance Transfer Credit Cards Lifetime Free Credit Cards, Auto and Fuel Credit Cards and Co-branded Credit Cards
List of Best Credit Cards in India
American Express Gold credit card
Indian Overseas Bank Visa International Credit card
Axis Platinum card
Bank of India's India Card
Gold International Card
Citibank Dinners Club International card
Union Bank of India Silver Card
Syndicate Global Classic Credit Card
Union Bank of India Gold Card
ICICI Bank Online card
Syndicate Global Gold Credit Card
CorpBank Gold card
Vijaya Bank Visa Gold Credit Card
HSBC Platinum card
Vijaya Bank MasterCard Global Card
CorpBank Classic card
Vijaya Bank VISA Classic International Card
HDFC Silver credit card
Vijaya Bank MasterCard Classic Credit Card
HDFC Cooperate credit card
In the current scenario the major credit card providers in India are ICICI, Standard Chartered HDFC and HSBC. Known for providing value added services along with customer-favorable credit card deals these banks are said too have the highest number of credit card users in the country. According to recent statistics the number of credit card holders in India has exceeded 27 million.
Most of the banks and financial concerns in India offer different kinds of credit cards for different segments of customers. However an ideal credit card is that which offers the best services, suits all your needs and most importantly charges low interest.
List of Credit Card issuing Banks in India
Below is a list of the popular Credit Card issuing Banks in India
ICICI Bank, HDFC, American Express, ABN Amro, Axis Bank, Bank of Baroda, Canara Bank, SBI, Citibank, HSBC, Deutsche Bank, Barclays Bank, Citibank, Standard Chartered and Kotak Mahindra.
Types of credit cards in India
Gold Credit Cards, Silver Credit Cards, Premium Credit Cards, Business Credit Cards, Cash Back Credit Cards, Airline Credit Cards, Low Interest Credit Cards, Balance Transfer Credit Cards Lifetime Free Credit Cards, Auto and Fuel Credit Cards and Co-branded Credit Cards
List of Best Credit Cards in India
American Express Gold credit card
Indian Overseas Bank Visa International Credit card
Axis Platinum card
Bank of India's India Card
Gold International Card
Citibank Dinners Club International card
Union Bank of India Silver Card
Syndicate Global Classic Credit Card
Union Bank of India Gold Card
ICICI Bank Online card
Syndicate Global Gold Credit Card
CorpBank Gold card
Vijaya Bank Visa Gold Credit Card
HSBC Platinum card
Vijaya Bank MasterCard Global Card
CorpBank Classic card
Vijaya Bank VISA Classic International Card
HDFC Silver credit card
Vijaya Bank MasterCard Classic Credit Card
HDFC Cooperate credit card
Railway Budget 2011-12
Highlights of Railway Budget 2011-12
1.No hike in passenger fare and freight rates.
2.Highest ever Plan outlay of ` 57, 630 crore proposed for Railways.
3.9,583 crore provided for new lines.
4.1300 km new lines, 867 km doubling of lines and 1017 km gauge conversion targeted in 2011-12.
5.56 new Express Trains, 3 new Shatabdis and 9 Duronto trains to be introduced.
6.AC Double Decker services on Jaipur-Delhi and Ahmedabad-Mumbai routes.
7.New Super AC Class to be introduced.
8.A new portal for e-ticketing to be launched shortly. Booking charges will be cheaper with a charge of only ` 10 for AC classes and ` 5 for others.
9.Pan-India multi-purpose smart card "Go India" to be introduced.
10.236 more stations to be upgraded as Adarsh Stations.
11.47 additional suburban services in Mumbai and 50 new suburban services proposed for Kolkata.
12.Two new passenger terminals in Kerala and one each in Uttar Pradesh and West Bengal proposed.
13.Feasibility study to raise speed of passenger trains to 160-200 kmph to be undertaken.
14.A special package of two new trains and two projects for the States managing trouble free run of trains through out the year.
15.Anti Collision Devise (ACD) sanctioned to cover 8 zonal railways.
16.GPS Based 'Fog Safe' Device to be deployed.
17.All unmanned level crossing upto 3000 to be eliminated.
18.All India Security Help line on a single number set up.
19.All state capitals in the North-East except Sikkim to be connected by Rail in next seven years.
20.A Bridge Factory in J & K and a state-of-art Institute for Tunnel and Bridge Engineering is proposed at Jammu.
21.A Diesel Locomotive Centre will be set-up in Manipur.
22.A Centre of Excellence in Software at Darjeeling proposed under the aegis of CRIS.
23.Rail Industrial Parks at Jellingham and New Bongaigaon proposed.
24.Additional mechanized laundry units to be set up at Nagpur, Chandhigarh and Bhopal.
25.700 MW gas-based power plant to be set up at Thakurli in Maharashtra.
26.18,000 Wagons to be procured during 2011-12.
27.A scheme for socially desirable projects, 'Pradhan Mantri Rail Vikas Yojana' with Non-lapsable fund proposed.
28.10,000 shelter units proposed for track side dwellers in Mumbai, Sealdah, Siliguri, Tiruchirapalli on pilot basis.
29.Concession to physically handicapped persons to be extended on Rajdhani and Shatabdi trains.
30.Concession of 50% to press correspondents with family increased to twice a year.
31.Senior Citizens concession to be hiked from 30 % to 40 %.
32.Medical facilities extended to dependent parents of the Railway employees.
33.Scholarship for Girl child of Group-D railway employees increased to ` 1200 per month.
34.20 additional hostels for children of railway employees to be set up.
35.Recruitment for 1.75 lakh vacancies of Group 'C' and 'D' including to fill up backlog of SC/ST initiated, 16,000 ex-servicemen to be inducted by March 2011.
36.A separate sports cadre to be created.
37.2011-12 declared 'Year of Green Energy' for Railways.
38.Freight loading of 993 MT and passenger growth of 6.4 % estimated for 2011-12.
39.Gross Traffic Receipts at ` 1,06,239 crore, exceeding one lakh crore mark for the first time estimated.
40.Ordinary Working Expenses assessed at ` 73,650 crore.
The 2011 -2012 Budget session will begin on February 21. The date for the presentation of the Union Budget is February 28 and the Railway Budget will also be presented soon after that. Usually the railway budget is presented two days before the Union Budget.
The 2011 2012 Budget session will begin with a joint sitting of the two Houses that will be addressed by President Pratibha Patil. This was decided at the CCPA which was attended by ministers such as Minister of Agriculture Sharad Pawar, Minister of Overseas Indian Affairs and Civil Aviation Vayalar Ravi, Railway Minister Mamata Banerjee, Textiles Minister Dayanidhi Maran, Law and Minister Veerappa Moily.
Due to the numerous calamities and mishaps that took place in the year 2010 the railway department is expecting two times the budget allotted in the previous year. Currently the railway budget is undergoing a financial crisis and in order to overcome it; the department would require an increase in the budgetary support from the Finance Ministry of India.
The railway department has requested for Rs 39,600 crore as gross budgetary support in 2011 as compared to the Rs 15,875 crore that it received in the 2010 budget. This whooping expectation is not only to repair the damages but also for the ongoing and upcoming railway projects. The railway department also aims at further expanding and modernizing the railway infrastructure of the country.
The 2011 railway budget aims at increasing the production of wagons, coaches and locos, gauge conversion and doubling of tracks and laying of 1000 km of railway tracks. There will also be an increase in the number of trains and freight carriers.
The target of the department is to increase the number of coaches from 3700 in the previous year to 4000 coaches in 2011-12. In the wagon manufacturing segment the department plans to churn out 18,000 wagons and as far as locomotives are concerned they are expected to increase by another 5000.
The 2011 railway budget will also give importance to safety and security issues like improving the signaling system, train protection warning system (TPWS) and installing safety related technology like Anti-collision devices (ACD)
1.No hike in passenger fare and freight rates.
2.Highest ever Plan outlay of ` 57, 630 crore proposed for Railways.
3.9,583 crore provided for new lines.
4.1300 km new lines, 867 km doubling of lines and 1017 km gauge conversion targeted in 2011-12.
5.56 new Express Trains, 3 new Shatabdis and 9 Duronto trains to be introduced.
6.AC Double Decker services on Jaipur-Delhi and Ahmedabad-Mumbai routes.
7.New Super AC Class to be introduced.
8.A new portal for e-ticketing to be launched shortly. Booking charges will be cheaper with a charge of only ` 10 for AC classes and ` 5 for others.
9.Pan-India multi-purpose smart card "Go India" to be introduced.
10.236 more stations to be upgraded as Adarsh Stations.
11.47 additional suburban services in Mumbai and 50 new suburban services proposed for Kolkata.
12.Two new passenger terminals in Kerala and one each in Uttar Pradesh and West Bengal proposed.
13.Feasibility study to raise speed of passenger trains to 160-200 kmph to be undertaken.
14.A special package of two new trains and two projects for the States managing trouble free run of trains through out the year.
15.Anti Collision Devise (ACD) sanctioned to cover 8 zonal railways.
16.GPS Based 'Fog Safe' Device to be deployed.
17.All unmanned level crossing upto 3000 to be eliminated.
18.All India Security Help line on a single number set up.
19.All state capitals in the North-East except Sikkim to be connected by Rail in next seven years.
20.A Bridge Factory in J & K and a state-of-art Institute for Tunnel and Bridge Engineering is proposed at Jammu.
21.A Diesel Locomotive Centre will be set-up in Manipur.
22.A Centre of Excellence in Software at Darjeeling proposed under the aegis of CRIS.
23.Rail Industrial Parks at Jellingham and New Bongaigaon proposed.
24.Additional mechanized laundry units to be set up at Nagpur, Chandhigarh and Bhopal.
25.700 MW gas-based power plant to be set up at Thakurli in Maharashtra.
26.18,000 Wagons to be procured during 2011-12.
27.A scheme for socially desirable projects, 'Pradhan Mantri Rail Vikas Yojana' with Non-lapsable fund proposed.
28.10,000 shelter units proposed for track side dwellers in Mumbai, Sealdah, Siliguri, Tiruchirapalli on pilot basis.
29.Concession to physically handicapped persons to be extended on Rajdhani and Shatabdi trains.
30.Concession of 50% to press correspondents with family increased to twice a year.
31.Senior Citizens concession to be hiked from 30 % to 40 %.
32.Medical facilities extended to dependent parents of the Railway employees.
33.Scholarship for Girl child of Group-D railway employees increased to ` 1200 per month.
34.20 additional hostels for children of railway employees to be set up.
35.Recruitment for 1.75 lakh vacancies of Group 'C' and 'D' including to fill up backlog of SC/ST initiated, 16,000 ex-servicemen to be inducted by March 2011.
36.A separate sports cadre to be created.
37.2011-12 declared 'Year of Green Energy' for Railways.
38.Freight loading of 993 MT and passenger growth of 6.4 % estimated for 2011-12.
39.Gross Traffic Receipts at ` 1,06,239 crore, exceeding one lakh crore mark for the first time estimated.
40.Ordinary Working Expenses assessed at ` 73,650 crore.
The 2011 -2012 Budget session will begin on February 21. The date for the presentation of the Union Budget is February 28 and the Railway Budget will also be presented soon after that. Usually the railway budget is presented two days before the Union Budget.
The 2011 2012 Budget session will begin with a joint sitting of the two Houses that will be addressed by President Pratibha Patil. This was decided at the CCPA which was attended by ministers such as Minister of Agriculture Sharad Pawar, Minister of Overseas Indian Affairs and Civil Aviation Vayalar Ravi, Railway Minister Mamata Banerjee, Textiles Minister Dayanidhi Maran, Law and Minister Veerappa Moily.
Due to the numerous calamities and mishaps that took place in the year 2010 the railway department is expecting two times the budget allotted in the previous year. Currently the railway budget is undergoing a financial crisis and in order to overcome it; the department would require an increase in the budgetary support from the Finance Ministry of India.
The railway department has requested for Rs 39,600 crore as gross budgetary support in 2011 as compared to the Rs 15,875 crore that it received in the 2010 budget. This whooping expectation is not only to repair the damages but also for the ongoing and upcoming railway projects. The railway department also aims at further expanding and modernizing the railway infrastructure of the country.
The 2011 railway budget aims at increasing the production of wagons, coaches and locos, gauge conversion and doubling of tracks and laying of 1000 km of railway tracks. There will also be an increase in the number of trains and freight carriers.
The target of the department is to increase the number of coaches from 3700 in the previous year to 4000 coaches in 2011-12. In the wagon manufacturing segment the department plans to churn out 18,000 wagons and as far as locomotives are concerned they are expected to increase by another 5000.
The 2011 railway budget will also give importance to safety and security issues like improving the signaling system, train protection warning system (TPWS) and installing safety related technology like Anti-collision devices (ACD)
Polaris Software Lab Ltd
About Polaris Software Lab Ltd
Polaris Software Lab Ltd, a public listed company found in the year 1993 is the world's most sophisticated insurance and banking Software Company. Polaris offers state of the art comprehensive solutions for core banking, wealth and asset management, insurance and corporate banking. The company is rated among the top 8 Information Technology service providers in the global banking scenario. The headquarters of the Polaris are located at Chennai; India the company has more than 10,000 experts in various fields to cater to their global client requirements.
Brief History
More than 25 years ago, Polaris began its journey by partnering with Citibank for creating India's first Automated Teller Machine (ATM). The company was recognized for creating the first banking solution on distributed architecture by Smithsonian Institute in the year 1993. Polaris gained two very important experiences while working for Citibank. The first was creation of critical solutions with pioneering functionality which could be implemented and replicated anywhere in the world. Second was the creation of a successful outsourcing model that enabled the company to exceed the outstanding global standards.
Company Facts
Polaris has BS7799 certification
Polaris ranked 9th in NASCOMM's top 20 exporters list for 2004-2005
Polaris has in excess of 10,500 associates
Polaris has 23 international offices and 4 global near shore development centers
Polaris has 7 business solution centers focusing in micro verticals
Polaris is world's 1st CMMi (Capability Maturity Model Integrated) Level 5 Certified Company
Polaris has over 20 years of experience in banking, financial services and insurance
Field of Expertise
Polaris has expertise in a range wide of sectors consisting of wealth management, retail banking, investment banking, and process consulting enterprise solutions, pace testing, insurance and corporate banking. Other areas of expertise include expertise that helps the company to reach their goals quickly and efficiently and help build more experts in the society.
Corporate Social Responsibility
As a part of the company's social responsibility initiative, the company set up Ullas Trust in the year 1997. One of the primary tasks of this trust is to nurture dreams and encourage a sprit of belief that things can happen among economically backward adult students. Under this trust each Polarite counsels a disadvantaged student by acting as his/her role-model and financing 40% of a scholarship while Polaris donates the rest.
Overseas Oprerations
Polaris has overseas operations in:
Canada
United States of America
United Kingdom
Germany
France
Chile
Hong Kong
Netherlands
Spain and Korea
Switzerland
Ireland
Singapore
Australia
Saudi Arabia
Bahrain
UAE
Japan
Products and Services
Outsourcing
Retail Banking
Corporate Banking
Capital Markets and Asset Management
Insurance
Products
Intellect Universal Banking
Intellect Consumer Finance
Intellect Wealth Management
Intellect Cards
Intellect Portals
Intellect Cash & Liquidity
Intellect Risk & Treasury
Intellect Front Office
Services
Enterprise Solutions
Technology CoE
Testing CoE
Performance Engineering
Domain Led
Infrastructure Led
Address
Corporate Headquarters
Polaris Software Lab Ltd.
'Foundation', No. 34, IT Highway,
Chennai - 603 103
India
Phone: +91-44-2743 5001
Fax: +91-44-2743 5166
Email: marketing@polaris.co.in
Registered office
Polaris Software Lab Ltd.
Polaris House, 244 Anna Salai
Chennai - 600 006
India
Phone: +91-44-2852 4154
Fax: +91-44-2852 3280
Email: marketing@polaris.co.in
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