Banking and Finance
Chennai has been tagged as the Banking Capital of India,for its vibrant banking culture and Trading.The city has emerged as an important centre for banking and finance in the World Market.The city boasts of having a transaction volume which serves 900 million people accrose the World through Back office operation. At present it is home to four large national level and commercial banks and many regional and state level co-operative banks. Several large financial companies and insurance companies are headquartered in Chennai. Prominent financial institutions, including the World Bank, Standard Chartered Bank, ABN AMRO, Bank of America, The Royal Bank of Scotland, Goldman Sachs, Barclays, HSBC, Deutsche Bank, ING Group, Allianz, Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Abu Dhabi Commercial Bank, Asian Development Bank, Credit Suisse, BNP Paribas Fortis, Deutsche Bank and Citibank have back office and Development Center operations in the city. The city serves as a major back up centre for operations of many banks and financial companies in The World.
Read more about this topic: Economy Of Chennai
Famous quotes containing the words banking and/or finance:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“There is an enormous chasm between the relatively rich and powerful people who make decisions in government, business, and finance and our poorer neighbors who must depend on these decisions to alleviate the problems caused by their lack of power and influence.”
—Jimmy Carter (James Earl Carter, Jr.)