Tiffany Trader, HPCWire, India Greenlights $730 Million Supercomputing Grid, here.
The Indian government has approved a seven-year supercomputing program worth $730 million (Rs. 4,500-crore) intended to restore the nation’s status as a world-class computing power.
The prime mandate of the National Supercomputing Mission, first revealed last October, is the construction of a vast supercomputing grid connecting academic and R&D institutions and select departments and ministries. The National Supercomputing grid will be comprised of more than 70 geographically-distributed high-performance computing centers linked over a high-speed network, the National Knowledge Network (NKN).
List of top 10 banks in India:
State Bank of India: SBI undoubtedly is the leading bank in India when it comes to number of branches, ATM’s, net profits, total assets managed, etc. With an employee base of close to 3 lakh people SBI commands 20% (approx) of the Indian banking sector. The bank has over 17,000 branches with more than 27,000 ATM’s. The bank manages assets worth more than 390 billion USD.
ICICI Bank: ICICI is the second in the list when it comes to quantity of assets managed by the Bank. According to the current market cap ICICI is ahead of SBI but behind HDFC. ICICI Bank has about 3540 branches, 11200 ATM’s and over 82000 employees. The bank manages assets worth 99 billion USD.
Punjab National Bank: PNB is the third largest bank in India. The market capitalization of the bank is very low compared to the assets it manages. The bank has over 5800 branches, 6000+ ATM’s. It manages assets worth 90.9 billion USD.
Bank of Baroda: BOB is the forth largest bank in India when it comes to managing assets. According to market cap the bank is undervalued/priced. The bank has over 4200 branches and has a net profit of 840 million USD. The assets managed by this bank are valued at 73 billion USD.
HDFC Bank: If we prepared this list according to the market cap then HDFC would have been the number one bank in this list. Well according to assets managed the bank is at the 5th position. The bank has over 3200 branches, 12000+ ATM’s, Net Profit of 1.1 billion USD. The assets managed by this bank are valued at 66.7 billion USD.
Canara Bank: The bank has about 3200 branches with over 4000 ATM’s. The bank employees about 44,000 people. Assets managed by the bank are valued at 61 billion USD.
Axis Bank: Axis bank comes 7th in the list and 3rd in the list of private sector bank. The bank has 2225 branches, 12000+ ATM’s, 40200 employees . The bank manages assets worth 54 billion USD. The bank’s net profit is 1.5 billion USD.
Bank of India: BOI has over 4500 branches and makes a profit of 400 million USD.
IDBI Bank: The bank has about 1150 branches with about 2000 ATM’s. The bank employees about 15000 people. It manages assets worth 42 billion USD.
Union Bank of India: The bank falls 10th in the list with about 4500 ATM’s. 290 million USD in profits. It manages assets worth 13.45 billion USD.