Banking in India started in early 19th century. State Bank of India is the oldest bank of India. After India’s independence in 1947, the Reserve Bank, formely Imperial Bank was nationalized and given powers to control all the public and private banks of India. In 1969 and 1980 the Indira Gandhi’s Congress government nationalized the 14 largest commercial banks and 6 other largest banks respectively. Today India 27 public sector banks where Government of India is holding a major stake, 31 private banks which are publicly listed and traded on stock exchanges and 38 foreign banks. The public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. That is why public sector banks are very important for Indian economy. Today I have compiled the list of Public Sector Banks in India.
The following are the list of Public Sector Banks in India with their headquarters given inside the brackets.
- Allahabad Bank (Kolkata)
- Andhra Bank (Hyderabad)
- Bank of Baroda (Mumbai)
- Bank of India (Mumbai)
- Bank of Maharastra (Pune)
- Canara Bank (Bangalore)
- Central Bank of India (Mumbai)
- Corporation Bank (Mangalore)
- Dena Bank (Mumbai)
- Indian Bank (Chennai)
- Indian Overseas Bank (Chennai)
- Oriental Bank of Commerce
- Punjab & Sind Bank (New Delhi)
- Punjab National Bank (New Delhi)
- Syndicate Bank (Manipal)
- UCO Bank (Kolkata)
- Union Bank of India (Mumbai)
- United Bank of India (Kolkata)
- Vijaya Bank (Bangalore)
List of State Bank of India and its subsidiary, a Public Sector Banks
- State Bank of India (Mumbai)
- State Bank of Bikaner & Jaipur (Jaipur)
- State Bank of Hyderabad (Hyderabad)
- State Bank of Indore (Indore)
- State Bank of Mysore (Bangalore)
- State Bank of Travancore (Thiruvananthapuram)
