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HOW MANY PUBLIC SECTOR BANKS IN INDIA

HOW MANY PUBLIC SECTOR BANKS IN INDIA

how many public sector banks in India? or How many public sector banks are there in India? let check the answer to this question below.

With the consolidation of banks, India now has 12 public sector banks and 21 private sector banks. In 2022, look at the list of public and private banks in India, and see which ones are public and which are private.

Top government banks in india

Also, with top government banks in india, India today has 12 public sector banks. check at the list of to government banks in India public in India, and see which ones are public.

The following is a list of all public and private sector banks in India as of 2022: The Reserve Bank of India (RBI) is India’s top banking regulator and was set up in 1934 by the RBI Act.

How many Public Sector Banks in India?

In India, banks are classified into two types: scheduled banks and unscheduled banks. Banks that are scheduled are those that are listed in the second schedule of the RBI Act, 1934, whereas banks that are not scheduled are those that are not listed in the second schedule of the RBI Act, 1934.

Read Also: What is Common Fund – Well Explained with Examples

Banks are also broken down into private sector, public sector, and foreign banks based on who owns them.

Commercial banks in India are classified into the following categories:

Banks are covered in the Second Schedule of the RBI Act, 1934. These are classified in the sections below.

1. Private Sector Banks: Private individuals own the lion’s share of these institutions. Private banks include HDFC Bank, ICICI Bank, and AXIS Bank.

2. Public Sector Banks: The government owns the lion’s share. Among public-sector banks are the Punjab National Bank, the State Bank of India, and the Central Bank of India, to name a few.

3. Foreign Banks: Foreign banks are those that have their headquarters outside of India. Standard Chartered Bank, American Express, and Citibank are all examples of foreign sector banks.

In this post, we have included a list of all private-sector banks and public-sector banks.

list of public sector banks in india

Find below the list of public sector banks in India

List of Public Sector Banks in India 2022

Bank Name Date of Establishment Headquarters
 Bank of Baroda 1908 Vadodara, Gujarat
2. Bank of India 1906 Mumbai, Maharashtra
3. Bank of Maharashtra 1935 Pune, Maharashtra
4. Canara Bank 1906 Bengaluru, Karnataka
5. Central Bank of India 1911 Mumbai, Maharashtra
6. Indian Bank 1907 Chennai, Tamil Nadu
7. Indian Overseas Bank 1937 Chennai, Tamil Nadu
8. Punjab and Sind Bank 1908 New Delhi, Delhi
9. Punjab National Bank 1894 New Delhi, Delhi
10. State Bank of India 1955 Mumbai, Maharashtra
11. UCO Bank 1943 Kolkata, West Bengal
12. Union Bank of India 1919 Mumbai, Maharashtra

List of Private Sector Banks 2022

Bank name Date of Establishment Headquarter
1. Axis Bank 1993 Mumbai, Maharashtra
2. Bandhan Bank 2015 Kolkata, West Bengal
3. CSB Bank 1920 Thrissur, Kerala
4. City Union Bank 1904 Thanjavur, Tamil Nadu
5. DCB Bank 1930 Mumbai, Maharashtra
6. Dhanlaxmi Bank 1927 Thrissur, Kerala
7. Federal Bank 1931 Aluva, Kerala
8. HDFC Bank 1994 Mumbai, Maharashtra
9. ICICI Bank 1994 Mumbai, Maharashtra
10. IndusInd Bank 1964 Mumbai, Maharashtra
11. IDFC FIRST Bank 2015 Mumbai, Maharashtra
12. Jammu & Kashmir Bank 1938 Srinagar, Jammu and Kashmir
13. Karnataka Bank 1924 Mangaluru, Karnataka
14. Karur Vysya Bank 1916 Karur, Tamil Nadu
15. Kotak Mahindra Bank 2003 Mumbai, Maharashtra
16. IDBI Bank 1964 Mumbai, Maharashtra
17. Nainital bank 1922 Nainital, Uttarakhand
18. RBL Bank 1943 Mumbai, Maharashtra
19. South Indian Bank 1929 Thrissur, Kerala
20. Tamilnad Mercantile Bank 1921 Thoothukudi, Tamil Nadu
21. YES Bank 2004 Mumbai, Maharashtra

In terms of income, HDFC Bank is India’s largest private sector bank, whereas State Bank of India (SBI) is the country’s largest public sector bank.

The list of private sector banks and public sector banks above is subject to change. When there is a change to the list, it will be updated here.

Conclusion

India now has 12 public sector banks and 21 private sector banks. Banks are broken down into private-sector, public-sector, and foreign banks based on who owns them.

The government owns the lion’s share of these institutions, while private individuals own a large chunk. Public sector banks are those that have their headquarters in India.

Private sector banks include the State Bank of India, City Union Bank, and Dhanlaxmi Bank. Foreign-owned banks include Standard Chartered Bank, American Express, and Citibank.

hope you find this list of public sector banks India and top government banks in India useful.

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Eric Adjei

Eric Adjei

A professional with six (8) years’ experience in finance and accounting. Demonstrating expertise in accounting procedures, computerized accounting system management and financial operations. Financially astute with excellent analytical, problem solving, management, people supervision, organizational, business administration, operation and commercial management and teaching skills.

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