Nainital Bank

A scheduled commercial bank established in 1922 is The Nainital Bank Limited (NTB), also known as Nainital Bank (Kumaoni: ). The bank is a division of Bank of Baroda, which is owned by the Indian government’s Ministry of Finance. The bank only has 170 branches in Rajasthan, Delhi, and Haryana, but it has expanded to Uttar Pradesh and Uttarakhand.

Govind Ballabh Pant founded the Nainital Bank. The second-largest bank in India, owned by the government, Bank of Baroda (BOB), became a subsidiary of BOB in 1992 after purchasing a 98.6% (about 99%) interest in it.
National Insurance Company (NIC) and Nainital Bank signed a contract in April 2004 to distribute NIC’s general insurance products through the bank’s branches in the states of Uttarakhand, Haryana, and New Delhi. On March 31, 2006, the bank’s net worth was about Rs. 1.12 billion. After abandoning its preparations for an IPO in 2007 due to unfavorable market conditions, the bank announced its rights offering in September 2009 to increase its capital adequacy ratio (CAR) to 14%. By April 2010.

The Nainital Bank has ties to several financial institutions, including HDFC, LIC, and National Insurance Company Limited. NBL now has 170 locations in Rajasthan, Uttarakhand, Uttar Pradesh, Delhi, and Haryana. Along with personal, business, rural, and agricultural banking, it also offers internet services. The Reserve Bank of India (RBI), the country’s central bank, has The Nainital Bank Limited listed as a scheduled commercial bank.