CNBC-TV18 gives away Best Banks and Financial Institutions Awards

Felicitates India's Most Authoritative Financial Managers & Institutions for the first time

September 15, 2011:

MCX and CNBC–TV18, India's No. 1 Business medium felicitated for the first time India's best financial tycoons who stood tall even in the face of financial challenge at the 'India Best Banks and Financial Institutions Awards'. CNBC-TV18's India Best Banks and Financial Institutions Awards recognized the outstanding work of the financial managers as well as financial institutions in creating and sustaining stakeholder value, in building investor wealth, in driving inclusion and in helping India evolve from a savings to an investing economy. Shri. Veerappa Moily, Honourable Union Cabinet Minister, Corporate Affairs was the Chief Guest at the awards ceremony held in Mumbai recently.

The Indian Banking and Financial industry has displayed immense maturity, patience, skill and agility in handling the financial crisis and in emerging stronger, fitter and more authoritative than ever before. Banks, Insurance companies, NBFCs and financial institutions that have showcased the ability to manage risk, retain strong fundamentals, create wealth and are today leading India to the global stage are the organizations were the centre stage of these very special awards.

Speaking on the initiative, Anil Uniyal, CEO, CNBC-TV18 and CNBC AWAAZ said, “The Indian financial industry witnessed a rapid transformation resulting in greater inflow of investments from FII's into the capital market. Despite the entry of foreign banks in the country, nationalized banks continue to be the biggest lenders in the country, primarily due to their size and penetration of networks. Indian Financial managers and institutions have played a key role in standing head strong despite the financial crisis and ensuring sustainable growth of the Indian economy. We would like to acknowledge their contribution to the nation, especially in the hour of need.”

Speaking on the occasion, Venkat Chary, Chairman, MCX said, “Banks and financial institutions of India have made good progress since initiation of reforms in early 1990s.These institutions have withstood myriad challenges with élan. India Inc. and we as individuals have been proud beneficiaries of their enhanced services at par with international standards. It is an honour for MCX to associate with CNBC-TV18 to present the India Best Banks and Financial Institutions Awards to such deserved institutions, which have done India proud.”

The winners of these defining awards were selected through a robust and comprehensive judging process, based on a combination of criteria. The first stage involved short-listing of India's best businesses using quantitative techniques. The second stage consisted of short listing of companies that were then presented to the jury. These nominees were then evaluated by an esteemed jury panel with Rakesh Mohan, Professor in the Practice of International Economics of Finance, School of Management; Senior Fellow, Yale University & Former Deputy Governor at the RBI, A.K. Purwar, Chairman, IndiaVenture Advisors Pvt. Ltd. & Former Chairman, State Bank of India, S. Narayan -former finance secretary, and Jagdish Capoor - former dy. Governor of RBI, former chairman of HDFC Bank and BSE.

The winners of CNBC-TV18 'India Best Banks and Financial institutions Awards' are:-

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