RBL Bank Full Form
What is the full form of RBL Bank?
Ratnakar Bank Limited is the full form of RBL Bank. It is a scheduled commercial bank based in the Kolhapur region of Maharashtra, India.It was founded in August 1943 as one of the oldest private banks in India. Today it currently serves more than 11.77 million customers across a network of 507 branches; 1,204 commercial correspondence branches (including 289 banking outlets) and 413 ATMs in 28 Indian states and union territories.
It offers a wide range of banking products and services in six verticals which are the following:
Corporate and Institutional Banking
Branch and Business Banking
Commercial Banking
Agribusiness Banking
Development Banking and Financial Inclusion.
Treasury and Financial Markets operation.
RBL's vision is to be a bank of choice by building lasting relationships and nurturing trust and respect from customers, employees, and investors.RSubramaniakumar is the Managing Director and CEO of RBL Bank. He is a banking industry veteran with 40 years of experience.
Key Products & Services
Savings Accounts
Fixed Deposits
Loans and Insurance
Debit and Credit Cards
Mobile and Internet Banking
Investment Services
NRI Banking
Brief History of RBL Bank
RBL was founded in August 1943 as a small regional bank in Maharashtra. Initially, it had two branches in Kolhapur and Sangli. In August 1959 it was classified as a Scheduled Commercial Bank. It mainly served small and medium-sized enterprises (SMEs) and business people in the Kolhapur-Sangli belt. It was incorporated as Ratnakar Bank Limited in Kolhapur District on 14 June 1943.o In 1959 the bank was classified as a Scheduled Commercial Bank under the
Reserve Bank of India Act 1934. During this decade it was called NH4 Bank. In 1970, RBL bank received a banking license from the Reserve Bank of India (RBI).In July 2010 when Mr. Vishwavir Ahuja became CEO and CEO of RBL Bank,the bank underwent a radical change from a former private bank to a new one professionally managed bank.In August 2016, RBL bank was listed on National Stock Exchange (NSE) & Bombay Stock Exchange (BSE).
Subsidiaries of RBL Bank :
RBL FinServe Ltd. is a subsidiary of RBL Bank. It was formerly known as Swadhaar FinServe Pvt. ltd.
RBL FinServe Ltd. is a comprehensive financial service provider.Provide lending services and savings products for low-income households and micro-business owners.
RBL Bank's mission is to make financial services accessible to economically vulnerable households and businesses. The aim is to provide financial assistance so that they can achieve financial security.
Awards
In year 2012:
Asian Banker Technology Implementation Award
Recognized as Best Bank (Growth) ofIndia in The Mid-Sized Bank Segment
In year 2013:
Sunday Standards Best Bankers Award
A fastest growing a small bank in Business World-PWC Best Bank Survey
In year 2014:
RBLBank was recognized by the World Economic Forum as a Global Growth Company.
RBL Bank emerged as a fastest-growing small bank in the Business as per World-PWC Best Bank Survey.
Dun & Bradstreet Banking Award
FE Best Bank Award
In year 2015:
IDRBT Banking
Technology Excellence Awards
ESB (Enterprise State Bus) Deployment at Finnoviti 2015
FE Best Bank Award
In year 2016:
MasterCard Innovation Award
IDRBT Banking Technology Excellence Award
The Asian Banker Technology Innovation Award
In year 2017:
Dun & Bradstreet Banking Award
Magna Award for best growing small bank
VC Circle Award for financial services company of the year
IBA Banking Technology Awards
Ernst & Young (EY) Entrepreneur of the Year 2016 India Awards
Bagged the CNBC Asia's India Talent Management Award
In year 2018:
Aadhaar Excellence Awards 2018
CNBC Awaaz CEO Awards 2018
IBLA Awards 2018
Outlook Money Awards 2018
Business Today Banking Awards
Magna Awards 2018
In year 2019:
Digital Payments Award by MeitY
TISS LeapVault CLO Award
The Asian Banker Financial Technology Innovation Awards
TransUnion CIBIL Awards
Asia money Awards 2019
Outlook Money Awards Business Today Financial Awards
BFSI Digital Innovation Awards 2019 by Express Computers
In year 2020:
Best Saving Product 2018-2019, Financial express best bank
Best Core System Project -The asset triple a digital awards
Best Cloud-Based Project- The asset triple a digital awards
In year 2021:
IDC Industry Innovation Awards 2021
Mint | Tech circle Business Transformation Awards 2021
India Gold Conference Excellence Awards -21
Infosys Finacle Innovation Awards 2021
Red Hat APAC Innovation Awards 2021
ASIAMONEY Best Bank Awards 2021
The Asset Triple A Digital Awards 2021
Business Today - KPMG Best Bank Jury Award
In year 2022:
Asia money- Best Bank Awards 2022
The Asset Triple- A Digital Awards 2022
Frequently Asked Questions (FAQs)
On August 6, 1943,Ratnakar Bank was incorporated as a regional bank in Maharashtra with two branches in Kolhapur and Sangli, founded by Mr. Babgonda Bhujgonda Patil of Sangli and Mr. Gangappa Siddappa Chougule of Kolhapur.
The name of the bank has changed from Ratnakar Bank to its current name RBL Bank according to a new memorandum of association issued by the RoC on 24 November 2014.
72% of RBL Bank employees would recommend a job there to a friend based on Glassdoor reviews. The employees of the RBL also rated RBL Bank 3.4 out of 5 for work-life balance, 3.5 for culture, and 3.7 for career opportunities.
Security Systems:According to the RBL website, they have robust security systems in place to ensure that your digital savings account is safe. We have strong security systems in place to ensure your account is safe.
Two-Factor Authentication: Securing your bank accounts and money has become extremely challenging and scary. Due to the increase in cybercrime, there is always a threat to your money.It is therefore important to choose a bank that guarantees security.
RBL Bank guarantees protection and takes all necessary measures to offer customers a seamless experience. You can enable two-factor authentication for all your accounts.
In my opinion, HDFC Bank is a much better place to work due to its long experience in the financial market and its excellent customer base. Everything is simplified. But with a lot of work pressure, which I don't think should be a problem if you want to learn and grow in life.