RBL Bank was incorporated on June 14, 1943 under the Indian Companies Act, 1913 as ‘The Ratnakar Bank Limited’ and was granted a certificate of commencement of business dated July 5, 1943 by the Registrar of Joint Stock Companies, Kolhapur State. The name of the Bank was changed to its present name pursuant to a fresh certificate of incorporation issued by the RoC on November 24, 2014.
They are one of India’s fastest growing private sector banks in the last five years. The Bank has cultivated a customer-centric culture where they use their industry domain knowledge, experience and technology with the goal of satisfying the client’s complete banking needs. The Bank offers a comprehensive range of banking products and services customized to cater to the needs of large corporations, small and medium enterprises (‘SMEs’), agricultural customers, retail customers and development banking & financial inclusion (low income) customers. They have been expanding their presence across India through a growing network of branches and ATMs and upgrading their traditional delivery channels with modern technology-enabled channels like phone banking, internet banking and mobile banking. As of March 31, 2015, they had 183 interconnected branches and 348 interconnected ATMs spread across 13 Indian states and union territories serving over 1.3 million customers.
Business area of the company
RBL acquired certain Indian businesses of the Royal Bank of Scotland (RBS), including the RBS's business banking, credit card and mortgage portfolio businesses, in 2014. RBL's business segments consist of corporate and institutional banking, commercial banking, branch and business banking, agribusiness banking, development banking and financial inclusion and treasury and financial markets operations.
Major events and milestones:
1943: Bank was incorporated as ‘The Ratnakar Bank Limited’ in Kolhapur State, India.
1959: Bank’s name was entered in the Second Schedule to the Reserve Bank of India Act, 1934, by the Reserve Bank of India.
1970: The Bank received a licence to carry on banking business in India from the Reserve Bank of India.
2011: The Bank was granted a licence to operate as an authorised dealer category–I and deal in foreign exchange, by the RBI.
2014: The Bank received a certificate of registration to act as a merchant banker from SEBI.
Awards and Accreditations:
2017 :Dun & Bradstreet Banking Awards 2017 HIGH GROWTH PRIVATE SECTOR BANK
2017 :Magna Awards BEST GROWING SMALL BANK
2017 :VCCircle Awards FINANCIAL SERVICES COMPANY OF THE YEAR
IBA Banking Technology Awards
2017 :Awarded The Best IT Risk & Cyber Security Initiative Category And Best Payment Initiative Category
2017 :Ernst & Young (EY) Entrepreneur Of The Year 2016 India Awards VISHWAVIR AHUJA -ENTREPRENEUR OF THE YEAR
2017 :IBLA Awards AWARDED THE CNBC ASIA’S INDIA TALENT MANAGEMENT AWARD
2016: ‘Best Corporate Payment Project’ at The Asian Banker Technology Innovation Awards.
2016: ‘Innovation Award’ for the Debit Card Program by MasterCard.
2015: Business Today – KPMG study recognized Bank as the ‘Best Overall Bank (Small)’, the ‘Best Bank (Growth)’ and the ‘Best Bank (Quality of Assets)’.
2015: ‘The Fastest Growing Small Bank’ by Business World & PWC Best Bank Study.
2015: Selected as ‘Best Private Sector Bank – Priority Sector Lending’ at the Dun & Bradstreet Banking Awards, 2015.
2015: Received the ‘IDRBT Banking Technology Excellence Award’ for the year 2014-2015 for ‘Use of Technology in Financial Inclusion’ among small banks.
2015: ‘Innovation Award’ presented for the Bank’s Co Brand Program and Credit Card Program by MasterCard.
2014: ‘The Fastest Growing Small Bank’ by Business World Magna Awards.
2014: Selected as a ‘World Economic Forum Global Growth Company, 2014’ by the World Economic Forum.
2014: BSI Certificate of Registration affirming ISO/IEC 27001:2013 compliance by the Bank’s Information Security Management System.
2014: Selected as ‘Best Bank – Priority Sector Lending (Private Sector)’ at the Dun & Bradstreet - Polaris Financial Technology Banking Awards, 2014, by Dun & Bradstreet India.
2013: Chosen as ‘India’s Best Bank – Growth (Mid-size bank)’ by Business Today.
2013: ISO: 9001:2008 Quality Management System certification (certificate number FS 596786) for the centralized operations processes at National Operating Centre. This certificate is valid till March 14, 2016.
2013: ‘The Best Indian Banker (Small-Sized)’ by Sunday Standards Best Bankers’ Award.
2012: Business Today – KPMG study deemed Bank the winner in ‘Growth (Mid-sized bank)’ category.
2012: ‘Best Core Banking Project Award for India’ by the Asian Banker Technology Implementation Awards.