RBL Bank, astonishingly is one of the oldest private sector banks of the country. Having been established in 1943, RBL Bank is headquartered at Mumbai. It has a total market capitalization of INR 64,000 crores and caters to more than 3.15 million customers. The bank was originally established way back in 1943 to look after the needs of SMEs in Kolhapur-Sangli region and came up with its very first two branches in Kolhapur and Sangli. In 1959, RBL Bank was recognised as ‘Scheduled Commercial Bank’ by the Reserve Bank of India.
In 2010, after Mr Vishwavir Ahuja was instated at the helm as the CEO, RBl Bank began to shed its age-old image and the perception was quickly transformed to one being a vibrant, professional modern bank. There was a shuffle in its upper and middle management as well as people from banking, management finance and other varied fields hired. As a result of the change in organisation structure coupled with the change in the perception of the brand, RBl Bank was able to raise quality capital from trustworthy investors like HDFC Limited, Gaja Capital, Norwest Ventures, CDC Group Plc, Aditya Birla Private Equity, IDFC SPICE Fund, ICICI Lombard General Insurance etc. Today, RBL Bank is one of the fastest growing private banks of the country.
RBL Bank was the highest-ranked bank to feature in the ‘High’ category in the BCSBI Code Compliance Rating. It had an almost perfect score in each of Information Dissemination and Transparency as it fell short by a single point having scored 99 points in both the areas. It went on to score 94 in Customer Centricity and 93 in Grievance Redressal. It scored its lowest score in Customer Feedback as it could only amass 89 out of 100. As a result of such high scores across the board, RBL Bank got an overall score of 95 out of 100. It saw an increase of a solitary point from 2015 when it had scored 94 in the BCSBI Code Compliance Rating.