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Financial Institutions and Services

Notes 13. Jammu & Kashmir Bank
14. Karur Vysya Bank
15. Laxmi Vilas Bank
16. Nedungadi Bank

17. Ratnakar Bank
18. SBCI
19. South Indian Bank
20. United Western Bank

21. UTI Bank
22. Vijaya Bank.

Note: For latest detail on Private Sector Banks in India please visit www.rbi.org.in.
Private banks deliver sophisticated solutions to complex financial problems, with an attention
towards the clients' affairs in totality and offer individual advice and tailored solutions.

The emergence and development of private banks has helped the general public to achieve their
financial goals in the most effective way possible. To do so, these banks:
1. manage wealth of their clients

2. nurture it by providing their clients with investment strategies
3. assist in estate planning and banking requirements
4. identify future sources and opportunities to develop their wealth throughout
5. develop their customers' business interests through the investment, corporate, commercial
banking facilities they provide.
Some private banks even indulge in functions like those of introducing their customers to third
party service providers who can help them plan their estate to manage inheritance issues or
helping maximize the impact of their customers' philanthropic efforts.

Caselet Banks, FIs Cut Holdings of US Custodial Assets

I ndian banks and financial institutions reduced their holdings of US custodial assets by
over $10 billions in February this year.

According to the US Treasury Department data, American banks' custodial liabilities to
Indian financial institutions amounted to $16.277 billions in February, as against $27.133
billions in January and $36.977 billions in February 2009.
Custodial assets of Indian banks and financial institutions include short-term US treasury
bills and holdings of agency debts. Institutions that invest in dollar securities besides the
Reserve Bank of India include General Insurance Corporation of India, foreign branches/
subsidiaries of domestic banks and domestic mutual funds that are permitted to invest in
foreign securities.
Contd...

34 LOVELY PROFESSIONAL UNIVERSITY