As we know, India is the 2nd largest country by population, and banking management is a difficult task for our Nation. The Reserve Bank of India regulates all public and private sector banks in India, for maintaining cash flow around the country.
RBI owned By the Government of India. The RBI Act, 1934, established it. Banking is playing a significant role in the development of our country.
We have 12 government banks and 22 private banks today. Usually, the Indian banking system divided into two major categories:
- Public Sector Banks
- Private Sector Banks
- Foreign Banks in India
In this post, I will share all three types of commercial banks list.
Updated List of Public Sector Banks in India
After the merging processes on 30Aug2019, some public sector banks merge in the other big Public Sector Banks, and it’s effective from 1st April 2020. These nationalized banks owned by the government of India. The Public sector banks in India alone account for about 75 % of the entire advances in the Indian banking business.
PSU banks give their services around the country. And State Bank of India is the largest public sector bank in India. A wide range of merchandise similar to fixed deposits, savings & current accounts, Loans, Credit Cards makes this bank top-of-the-line banks in the country.
Presently, these 12 public sector banks are in action.
|1. State Bank Of India||1955||24,000||Mumbai, Maharashtra|
|2. Punjab National Bank||1894||11,437||New Delhi, Delhi|
|3. Union Bank of India||1919||9,609||Mumbai, Maharashtra|
|4. UCO Bank||1943||4,000||Kolkata, West Bengal|
|5. Punjab and Sind Bank||1908||1,554||New Delhi, Delhi|
|6. Central Bank of India||1911||4,666||Mumbai, Maharashtra|
|7. Canara Bank||1906||10,342||Bengaluru, Karnataka|
|8. Indian Bank||1907||6,104||Chennai, Tamil Nadu|
|9. Indian Overseas Bank||1937||3,400||Chennai, Tamil Nadu|
|10. Bank of Baroda||1908||9,481||Vadodara, Gujarat|
|11. Bank of India||1906||5,000||Mumbai, Maharashtra|
|12. Bank of Maharashtra||1935||1897||Pune, Maharashtra|
List of Private Sector Banks in India 2020
Private Sector Banks usually hold most of the shares in self hands. These 22 Private Banks are working in India right now.
|1. HDFC Bank||1994||4,787||Mumbai, Maharashtra|
|2. ICICI Bank||1994||4,882||Mumbai, Maharashtra|
|3. Axis Bank||1993||4,415||Mumbai, Maharashtra|
|4. IndusInd Bank||1994||1,004||Mumbai, Maharashtra|
|5. CSB Bank||1920||426||Thrissur, Kerala|
|6. City Union Bank||1904||600||Thanjavur, Tamil Nadu|
|7. DCB Bank||1930||323||Mumbai, Maharashtra|
|8. IDBI Bank||1964||1,892||Mumbai, Maharashtra|
|9. Federal Bank||1931||1,252||Aluva, Kerala|
|10. Bandhan Bank||2015||1,000||Kolkata, West Bengal|
|11. Yes Bank||2004||1,050||Mumbai, Maharashtra|
|12. IDFC First Bank||2015||301||Mumbai, Maharashtra|
|13. Dhanlaxmi Bank||1927||269||Thrissur, Kerala|
|14. Jammu & Kashmir Bank||1938||958||Srinagar, Jammu, and Kashmir|
|15. Karnataka Bank||1924||835||Mangaluru, Karnataka|
|16. Karur Vysya Bank||1916||668||Karur, Tamil Nadu|
|17. Lakshmi Vilas Bank||1926||570||Karur, Tamil Nadu|
|18. Nainital Bank||1922||135||Nainital, Uttarakhand|
|19. RBL Bank||1943||342||Mumbai, Maharashtra|
|20. Kotak Mahindra Bank||2003||1,369||Mumbai, Maharashtra|
|21. Tamilnad Mercantile Bank Limited||1921||509||Thoothukudi, Tamil Nadu|
|22. South Indian Bank||1929||852||Thrissur, Kerala|
Top 10 Foreign Banks in India
These International Banks are working globally, and their Head offices are outside of India.
- City Bank
- Standard Charted Bank
- Deutsche Bank
- DBS Bank
- Bank of America
- Barclays Bank
- Doha Bank
- Bank of Bahrain and Kuwait
- Royal Bank of Scotland
Some FAQ to your help:
Who is the No 1 bank in India?
HDFC Bank Ltd Is on the 1st position according to Forbes 2019 report. HDFC Bank is the largest bank in India by market capitalization. It established in 1994, and it has 88,253 staff. Its Revenue: 816.02billion INR (2019, US$17 billion) / Total assets: 8,638billion INR (2019, US$170 billion).
Here are the top 10 ranked banks in India.
|Name||Headquarters City||Headquarters Country||
|4||Kotak Mahindra Bank||Mumbai||India||35,717|
|7||Punjab National Bank||New Delhi||India||74,897|
How many banks are in India?
In 2020, 22 private sector banks, 12 public sector banks, 3 local area banks, 10 small finance banks, 7 payment banks, 4 financial institutions, 45 regional rural banks(RRB), and 44 foreign banks in India.
Which bank is not under RBI?
The State Bank of Sikkim is the only bank that is not regulated by RBI. The Sikkim state government owns it, and it’s headquarter is located in Gangtok, Sikkim, India.
How many nationalized banks in India?
Currently, 20 nationalized/PSU banks in India.
Conclusion: In this post, I will share all public sector banks and private sector banks list as 2020. I hope this will help you. So if you like this post, please like and share it with others.