India's 7 Most Powerful Brands 2014

2. LIC

LIC is ranked second in this list. It is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of 1560481.84 crore. The company was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalized the private insurance industry in India.

Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation. As of 2013 it had total life fund of 1433103.14 crore with total value of policies sold of 367.82 lakh that year. Its brand value for 2014 is around $4,104 million.

3. State Bank of India

State Bank of India (SBI) is a multinational banking and financial services company based in India. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. It ranked 2^nd last year and now has been pushed to the third position on this list with a brand value of $4,063 million.

Banking brands on the whole fared the worst collectively, with most brands losing brand value or remaining stagnant because of poor governance and weak credit controls, especially at government-owned institutions. SBI has seen its value drop by the largest amount as poorer revenue forecasts and bad loans have dampened earnings.