Nainital Bank was founded by Govind Ballabh Pant. The Nainital Bank Limited (NTB) is a scheduled commercial bank established in 1922. The Bank is a wholly owned subsidiary of Bank of Baroda. The bank has expanded to Uttar Pradesh and Uttarakhand, and has only 157 branches in Rajasthan, Delhi and Haryana.] It has become a TTC (Ten Thousand Crore) company and aims to become India’s most customer centric bank, Listed as Scheduled Bank by Reserve Bank of India.
In 1975, the government-owned Bank of Baroda (BOB), India’s second largest bank, acquired a 98.6% (about 99%) stake in the bank and made it a subsidiary.
In April 2004, National Insurance Company (NIC) signed an agreement with Nainital Bank for distribution of its general insurance products through the bank’s branches in the states of Uttarakhand, Haryana and New Delhi. The total assets of the bank as on 31 March 2006 were approximately Rs 1.12 billion. It Bank launched its rights issue in September 2009 to expand its capital adequacy ratio (CAR) to 14 per cent, after it withdrew its plans for an IPO in 2007 due to unfavorable market conditions; As of April 2010, the rights issue had raised ₹300 million (US$4.2 million).
Nainital Bank is affiliated to Bank of Baroda, HDFC Bank, LIC, National Insurance Company Limited etc.] At present, NBL has 142 branches in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan.] It is affiliated to Personal Banking, Business Banking, Apart from rural and agricultural banking, it also provides online facilities. Nainital Bank Limited is registered as Scheduled Commercial Bank with Reserve Bank of India (RBI), the central bank of India.
