A Study on Marketing Strategy of Banking Industry in India-Allahabad Bank

The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded in April 24th of the year 1865 at the confluence city of Allahabad by a group of Europeans. At that occasion Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries – namely Nineteenth, Twentieth and Twenty-First. As a leading public sector commercial banks in India, Allahabad Bank offering banking products and services to corporate and commercial customers and retail customers. The Bank particularly focuses on the retail banking while serving all sectors of the Indian economy. Bank’s operations for corporate and commercial customers cater to large corporate customers as well as to small and middle market businesses and Government entities. Corporate and commercial products include Term Loans, Bill Discounting, Export Credit and other business credit and financing products. Also the bank offers a wide range of retail products including Home Loans, Personal Loans and Automobile Loans as well as Debit Cards. In addition, specialised products and services to the agricultural sector also one of entity of the bank. All the above products and services of the bank offered through extensive branch network, extension counters, ATMs, phone banking and the Internet. This article will be helpful in writing Project Report on Marketing.In Twentieth Century, The Bank became a part of P & O Banking Corporation’s group with a bid price of Rs.436 per share in 1920. The Head Office of the Bank was shifted to Calcutta on business considerations during the year of 1923. The Bank crossed its century year in 1965. In July 19th of the year 1969, Allahabad Bank was nationalized (with 151Branches – Rs.119 crores of Deposits and Rs.82 crores of Advances) along with 13 other banks. United Industrial Bank Ltd was merged with the bank in October of the year1989. The Bank made a foray into merchant banking activity in 1984 and subsequently instituted AllBank Finance Ltd as a wholly owned subsidiary for Merchant Banking in the year of 1991. The Official Language Implementation Committee of Calcutta awarded the Rajbhasha Shield to the Bank as Second Prize for its best performance for the year 1991. During the year 1995, The Bank had entered into an MOU with the Small Industries Development Bank of India (SIDBI) for financing small-scale industrial units. In 1996, The Bank had set up Information Technology Centre to provide in-depth computer training to Officers at Calcutta and Lucknow. Consequent to the SEBI Rules and Regulation the company surrendered its merchant banking registration in 1998 and got it registered as a Non Banking Financial Company (NBFC) with Reserve Bank of India (RBI). In the same year of 1998, the bank had received permission from the RBI for gold trading. Allahabad Bank has entered into an arrangement, informally though, with IDBI and ICICI in regard to funding of infrastructure projects. During the year 1999, Allahabad Bank has launched two new schemes to increase the pace of credit off take and in the same period TATA Consultancy Services (TCS) has entered into a contract with Bank for implementing the Integrated Standard Banking System (ISBS), a branch mechanisation package at 60 branches. The Bank bagged three major core sector clients, namely the National Thermal Power Corporation (NTPC), Power Grid Corporation and Indian Railway Finance Corporation Ltd (IRFC). This report shows that Allahabad Bank has performed well which is reflected in its Ratio Analysis Reports In Twenty-First Century, Allahabad Bank has launched its new personal loan scheme for pensioners in the year of 2001. As at October of the year 2002, the bank came out with Initial Public Offer (IPO) of 10 crores share of face value Rs.10 each, reducing Government shareholding to 71.16% and in the same year 2002, Allahabad has tied up with National Institute of Banking Management, Crisil and Earnst & Young for development of HRM, risk Management and general business strategy. The Bank has seized the commercial assets of the Guarantors of Ramolene Fabrics (P) Ltd in 2003 at Mumbai and signed a Memorandum of Understanding (MoU) with Corporation Bank for mutual sharing of their ATM Network. The Bank has entered into an MOU in the year of 2004 with the Export Credit Guarantee Corporation of India (ECGC) for distribution of their products to the exporters. UTI Mutual Fund and Allahabad Bank on April 5, 2004 announced a strategic tie-up for distribution of UTI MF schemes. During April of the year 2005, the bank made Follow on Public Offer (FPO) of 10 crores equity shares of face value Rs.10 each with a premium of Rs.72, reducing Government shareholding to 55.23%. The Bank has signed MoU with Mahindra Gujarat Tractor Ltd in the identical year 2005 for financing Hindustan brand tractor under special finance scheme. Allahabad Bank transcended beyond the National Boundary, Allahabad bank had opened a representative office at Shenzen, China in June 2006. In October of the same year 2006, the bank rolled out its first branch under Core Banking Services (CBS). During February of the year 2007, The Bank opened its first overseas branch at Hong Kong. During the calendar year of 2007, 100 more branches opened throughout the country, the total number of branches were stirred from 2042 to 2142 of which rural are 983 (46%), semi-urban 402 (19%), urban 450 (21%) and metropolitan 307 (14%). There is no doubt that reading Banking Industry Reports is essential for knowing the history of a bank. Allahabad Bank has opened its 2154th branch in at Pudukkottai, Tamil Nadu during March of the year 2008. The Bank has 211 ATM’s and Card members can now have access at over 16500 ATM’s all across the country under National Financial Switch. One of the premier nationalised banks of the country, Allahabad Bank has commenced the process of implementing the Agricultural Debt Waiver and Debt Relief Scheme-2008 in June of the year 2008. The Bank has improved its performance and established its visibility and strong presence in the market. The Bank is steadily moving at a faster pace to consolidate its position in the coming days introducing extensive computerization to ensure the state-of-the-art service comfort for its customers. The Bank has already in hand 116 authorizations for opening of new branches. Bank’s plan is to expand in areas where the Bank’s presence is not very much visible now and where business potentiality is good.

How To Advance Your Career With Distance Education

In this competitive world, there are lots of students who arent able to go to their normal program or colleges as may be as a result of financial difficulties, family drawback, not able to give up home, caused by work or business. Visualize that there’s an interesting new role at your office, and you feel you are perfect for the job. You labor hard to land the position, only to find out the chap in the next cubicle has got it. While you dig deeper, you realize the one thing that separates you both is the additional degree he has. And that is while you start to regret meditating you were too busy to return to college to acquire that higher degree, which could have put you on the road to corporate victory.

Elevating careers by means of distance education and other non-traditional means has become quite a commonplace nowadays, and there are several factors that contribute to the increasing acceptance of these programs. Distance education brings various kinds of revolutionary ideas for distance students to carry on their education without yield their appointment or current job. You will surely be swept off your feet when you come to recognize the huge variety of web portals out there on the internet which proffer resourceful and pertaining suggestions on all facades concerning education like colleges, colleges, schools, distance education MBA, distance education engineering, distance education law, assorted programs available and list of top educational institutions in any particular field.

Distance education programs is different significantly in scope, level, and length. Several have a small number of lessons and involve only weeks to bring to an end, while some have a hundred or more assignments demanding three or four years of hard-working study. Also, a wide variety of topics is presented. Subjects consist of accounting, travel agent training, gun repair, gem identification, computer programming, catering and cooking just to name one or two.

Vemma Marketing – Growing Your Vemma Mlm Red-hot Strategy To Explode Your Business

Have you considered joining Vemma as an independent distributor? Or perhaps you already have. If so, then this article is definitely going to take your business into the STRATOSPHERE if you apply the philosophy I’m about to share with you. In this article, I’m going to reveal the hottest and most cutting edge strategy today to attract tons of leads to your MLM business and SERIOUSLY BEEF UP YOUR MARKETING RESULTS. If that sounds appealing, then continue reading…

Marketing is my love and joy. And I am on a mission to help you acquire the skills you need to explode your Vemma business at breakneck speeds (or ANY MLM business for that matter). But navigating the seas of marketing can be treacherous and filled with pitfalls and unforseen setbacks if you don’t know what the heck you’re doing. So before we sink our teeth in, let’s first take a peek at Vemma’s main marketing plan.

When you first click on Vemma’s corporate site, you can quickly get to videos of BK Boreyko, the founder and President of Vemma. BK Boreyko simply says, “All you have to do is get ‘unshy’ and go out there and talk to people! That’s all we want you to do!”. Basically, the CEO of Vemma is telling you to resort to old school marketing methods (no offense). Wouldn’t it be nice if we could just call 2 of our friends who called 2 of their friends and so on, and so on, and so on… Unfortunately, the modern network marketing landscape is changing at a rapid rate.

How Is Social Media Affecting The Event Planning Industry

Emerging trends in the Events Industry

In the past, the event planning industry was used only by the elite. Today, it is being increasingly seen as a way of eliminating headaches and hassles normally associated with events, corporate as well as private ones. According to a recent research the event planning industry is expected to grow by 20 percent from 2006 to 2016. It is no wonder that social media like Facebook and Twitter is being integrated into weddings and corporate events.

Real time updates with Social networks