The Bank of Baroda, a renowned nationalized bank, holds the majority of the shares of Nainital Bank. Currently, the Bank of Baroda owns 98.57% of the shares of Nainital Bank, with the public owning the remaining 1.43%. Bharat Ratna Pt. Govind Ballabh Pant and other partners founded Nainital Bank Ltd. in 1922 with the intention of meeting the financial requirements of the local populace. The Bank of Baroda was given the task of running the business of the Nainital Bank Ltd. by the Reserve Bank of India in 1973.
Key points:
- A quasi-government entity is Nainital Bank. A government-backed company, the Bank of Baroda, supports the private sector Nainital Bank.
- Bharat Ratna Pt. Govind Ballabh Pant and other partners founded Nainital Bank Ltd. in 1922 with the intention of meeting the financial requirements of the local populace.
- The Bank of Baroda, a renowned nationalized bank, holds the majority of the shares of Nainital Bank.
- Currently, the Bank of Baroda owns 98.57% of the shares of Nainital Bank, with the public owning the remaining 1.43%.
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The Bank of Baroda, a prestigious nationalized bank, was given the task of managing the operations of the Nainital Bank Ltd. by the Reserve Bank of India in 1973.
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