List of National Banks in India

Total number of National Banks in India are 59.

- Allahabad Bank
- Andhra Bank
- Bank of Baroda
- Bank of India
- Bank of Madura
- Bank of Maharashtra
- Banque Nationale De Paris
- Canara Bank
- Central Bank of India
- Centurion Bank
- Cipher Securities (India) Pvt. Ltd.
- Citibank
- Corporation Bank
- Cosmos Bank
- Dena Bank
- Development Credit Bank
- Export Import Bank of India
- Federal Bank Limited
- Global Trust Bank
- HDFC Bank Ltd.
- Haryana State Cooperative Apex Bank Limited (HARCOBANK)
- ICICI Bank
- IDBI Bank
- Indian Bank.
- Indian Bank’s Association (IBA)
- Indian Overseas bank
- IndusInd Bank Ltd
- Industrial Development Bank of India
- Industrial Investment Bank of India Ltd. (IIBI)
- Institute for Development and Research in Banking Technology (IDRBT)
- Jammu and Kashmir Bank Ltd.
- Kalyan Bank.
- Kapol Co-operative Bank Ltd.
- Lakshmi Vilas Bank
- North Eastern Development Finance Corporation (NEDFI)
- Mandvi Co-operative Bank Ltd.
- National Bank for Agriculture & Rural Development.
- National Housing Bank
- Oriental Bank of Commerce
- Punjab National Bank
- Punjab and Maharashtra Co-operative Bank Pvt. Ltd.
- Punjab and Sind Bank.
- Ratnakar Bank Ltd.
- Reserve Bank of India.
- Saraswat Co-operative Bank Ltd.
- SBI Capital Markets Limited
- Small Industries Development Bank of India
- State Bank of Hyderabad
- State Bank of India
- State Bank of Indore
- State Bank of Mysore
- State Bank of Saurashtra
- State Bank of Travancore
- Syndicate Bank
- UCO Bank
- Union Bank of India
- Unit Trust of India
- United Bank Of India (UBI)
- Vijaya Bank

List of Financial Institutions in India

- Discount and Finance House of India Ltd. (DFHI)
- Export – Import Bank of India (Exim Bank)
- General Insurance Corporation of India (GIC)
- Housing and Urban Development Corporation Ltd. (HUDCO)
- Indian Railways Finance Corporation Ltd.
- Indian Renewable Energy Development Agency Ltd. (IREDA)
- Industrial Development Bank of India (IDBI)
- Industrial Finance Corporation of India (IFCI)
- Industrial Reconstruction Bank of India (IRBI) now (Industrial Investment Bank of India)
- Infrastructure Development Finance Co. Ltd.
- Life Insurance Corporation of India (LIC)
- National Bank for Agriculture and Rural Development (NABARD)
- National Housing Bank (NHB)
- Power Finance Corporation Ltd.
- Risk Capital and Technology Finance Corporation Ltd. (RCTC)
- Rural Electrification Corporation Ltd.
- Securities Trading Corporation of India Ltd. (STCI)
- Shipping Credit and Investment Company of India Ltd. (SCICI)
- Small Industries Development Bank of India (SIDBI)
- Technology Development and Information Company of India Ltd.(TDICI)
- Tourism Finance Corporation of India Ltd. (TFCI)
- Unit Trust of India (UTI)

LIC’s Jeevan ANURAG Insurance Plan Detailes

LIC’s Jeevan ANURAG is a with profits plan specifically designed to take care of the educational needs of children. The plan can be taken by a parent on his or her own life.

Benefits under the plan are payable at prespecified durations irrespective of whether the Life Assured survives to the end of the policy term or dies during the term of the policy.

In addition, this plan also provides for an immediate payment of Basic Sum Assured amount on death of the Life Assured during the term of the policy.

Assured Benefit

Payment of 20% of the Basic Sum Assured at the start of every year during last 3 policy years before maturity. At maturity, 40% of the Basic Sum Assured along with reversionary bonuses declared from time to time on full Sum Assured for the full term and the Terminal bonus, if any shall be payable. For example, if term of the policy is 20 years, 20% of the Sum assured will be payable at the end of the 17th,18th, 19th year and 40% of the Sum Assured along with the reversionary bonuses and the terminal bonus, if any, at the end of the 20th year.

Death Benefit
Payment of an amount equal to Sum Assured under the basic plan immediately on the death of the life assured.

Kisan Vikas Patras (KVP) Scheme Benfits & Details

Kisan Vikas Patras  is a safe and long term investment
option backed by the Government of India which provides interest income similar to bonds. The title of the scheme makes some misconception that it is only meant for farmers. But anyone can go for Kisan Vikas Patra. KVP is beneficial for those looking for a safe avenue of investment without the pressing need for a regular source of income. Money doubles at the end of specified period.

Kisan Vikas Patra is available in all head post offices and other Authorized post offices throughout India. After filling up the prescribed form and submitting money, the certificate will be issued after the realization of cheque, pay order or DD.

minimum investment in KVP is Rs 100. Certificates are available in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000. The denomination of Rs 50,000 is sold through head post offices only. There is no limit on holding of these certificates. Any number of certificates can be purchased. A KVP is sold at face value; the maturity value is printed on the Certificate.

The post-office Kisan Vikas Patras (KVPs) offers a fixed rate
of interest, currently at 8.41 (2009) per cent per annum compounded half yearly which are subject to vary. The maturity period is 8 years and 7 months and Money doubles on maturity.

Post-Office Time Deposit Account Details & Benefits

A Post-Office Time Deposit Account (RDA) is a  banking service similar to a Bank Fixed Deposit  offered by Department of post, Government of India at all post office counters in the country. The scheme is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of one year to two years, three years and a maximum period of five years. Investor gets a lump sum (principal + interest) at the maturity of the deposit. Time Deposits scheme return a lower, but safer, growth in investment.

This investment option pays annual interest rates between 6.25 and 7.5 per cent, compounded quarterly. Time deposit for 1 year offers a coupon rate of 6.25%, 2-year deposit offers an interest of 6.5%,  3 years is 7.25% while a 5-year Time Deposit offers 7.5% return.

The rate of interest is relatively high compared to the 4.5% annual interest rates provided by banks
. Although the amount invested in this scheme is not exempted as per section 88 of Income Tax, the amount of interest earned is tax free under Section 80-L of Income Tax Act