Introduction
The banking system of India comprises of the Central bank (Reserve Bank of India, Cooperative Banks, Commercial Banks and Developmental Banks (Development finance institution)
The first bank established in India was the general bank of India founded in the year 1786. After that came the state bank of India in 1806 which was then known as the bank of Bengal.
Note:**The function of all the banks is governed and controlled by the Reserve Bank of India.The Reserve Bank of India is declared as the official central banking authority for the hassle-free supervision of the banking industry.
Categories
Banks in India are classified into two categories
- Public Banks in India
- Private Banks in India
PSUs
Public Sector Banks in India
Public Sector Banks are those banks which are managed and controlled by the government. The majority of the stake is held by the government.
Public sector banks are serving the nation for centuries and are well known for their affordable prices and quality services.
Yes, our very own banking sector of India is dominated by the public sector banks
The Public sector banks in India alone account for about 75 percent of the total advances in the Indian banking industry. Public sector banks have shown tremendous growth over the last five four decades.
How many public sector banks are there in India? There are 27 public sector banks in India-21 nationalized+6 state banks + 5 associates) and rest two are IDBI Bank and Bharatiya Mahila Bank, which are categorized as other public sector banks. Allahabad was the fully owned Indian bank. It was incorporated in the year 1865.
Nationalized Banks in India
| S. No. | Indian Bank List |
|---|---|
| 1. | Allahabad Bank |
| 2. | Andhra Bank |
| 3. | Bank of Baroda |
| 4. | Bank of India |
| 5. | Bank of Maharashtra |
| 6. | Canara Bank |
| 7. | Central Bank of India |
| 8. | Corporation Bank |
| 9. | Dena Bank |
| 10. | Indian Bank |
| S. No. | PSU Banks List |
|---|---|
| 11. | Indian Overseas Bank |
| 12. | Oriental Bank of Commerce |
| 13. | Punjab National Bank |
| 14. | Syndicate Bank |
| 15. | Union Bank of India |
| 16. | United Bank of India |
| 17. | Punjab & Sind Bank |
| 18. | UCO Bank |
| 19. | Vijaya Bank |
Nationalized Banks in India
| S. No. | Bank Name | Head Quarter/Office | Tagline |
|---|---|---|---|
| 1. | State Bank of India | Mumbai | The Nation banks on us; Pure Banking Nothing Else; With you all the way |
| 2. | State Bank of Bikaner | Rajasthan | |
| 3. | State Bank of Hyderabad | Hyderabad | You can always bank on us |
| 4. | State Bank of Mysore | Bangalore | Working for a better tomorrow |
| 5. | State Bank of Patiala | Punjab | |
| 6. | State Bank of Travancore | Thiruvananthapuram | A Long Tradition of Trust |
Note:SBT is set to be merged with State Bank of India with effect from 1st April 2017.
| S. No. | Indian Government bank list | Head Quarter/Office | Tagline |
|---|---|---|---|
| 1. | Allahabad Bank | Kolkata | A tradition of trust |
| 2. | Andhra Bank | Hyderabad | Where India Banks |
| 3. | Bank of Baroda | Vadodara | India’s International Bank |
| 4. | Bank of India | Mumbai | Relationships beyond Banking |
| 5. | Bank of Maharashtra | Pune | One Family One Bank |
| 6. | Canara Bank | Bangalore | Together we Can, It’s easy to change for those who you love |
| 7. | Central Bank of India | Mumbai | Central to you since 1911, Build A Better Life Around Us |
| 8. | Corporation Bank | Mangalore | A Premier Public Sector Bank, Prosperity for all |
| 9. | Dena Bank | Mumbai | Trusted Family Bank |
| 10. | Indian Bank | Chennai | Your Tech-friendly bank |
| 11. | Indian Overseas Bank | Chennai | Good people to grow with |
| 12 | Oriental Bank of Commerce | Gurugram | Where every individual is committed |
| 13. | Punjab National Bank | New Delhi | The Name you can Bank Upon |
| 14. | Punjab & Sind Bank | New Delhi | Where series is a way of life |
| 15. | Syndicate Bank | Manipal | Faithful. Friendly |
| 16. | UCO Bank | Kolkata | Honors Your Trust |
| 17. | Union Bank of India | Mumbai | Good people to bank with |
| 18. | United Bank of India | Kolkata | The Bank that begins with “U” |
| 19. | Vijaya Bank | Bangalore | A friend You can Bank Upon |
| 20. | IDBI Bank Ltd | Mumbai | Banking for all; “ Aao Schein Bada” |
| 21. | BharatiyaMahila Bank | New Delhi | Empowering women, E |
Note:
- SBT is set to be merged with State Bank of India with effect from 1st April 2017.
- There are total 93 commercial banks in India.
- The BharatiyaMahila Bank is set to be merged with State Bank of India with effect from 1st April 2017.
- The Central Government entered the banking business with the nationalization of the Imperial Bank Of India in 1955. A 60% stake was taken by the Reserve Bank of India and the new bank was named as the State Bank of India.
- The seven other state banks became the subsidiaries of the new bank when nationalized on 19 July 1960. The next major nationalization of banks took place in 1969 when the government of India, under Prime Minister Indira Gandhi, nationalized an additional 14 major banks.
Private
| Private Sector Banks – Indian Banks | |
|---|---|
| S.No. | Private Bank India List |
| 1. | Axis Bank Limited |
| 2. | Bandhan Bank Limited |
| 3. | Catholic Syrian Bank Limited |
| 4. | City Union Bank Limited |
| 5. | DCB Bank Limited |
| 6. | Dhanlaxmi Bank Limited |
| 7. | Federal Bank Limited |
| 8. | HDFC Bank Limited |
| 9. | ICICI Bank Limited |
| 10. | IndusInd Bank Limited |
| 11. | IDFC Bank Limited |
| 12. | Jammu & Kashmir Bank Limited |
| 13. | Karnataka Bank Limited |
| 14. | Karur Vysya Bank Limited |
| 15. | Kotak Mahindra Bank Limited |
| 16. | Lakshmi Vilas Bank Limited |
| 17. | Nainital Bank Limited |
| 18. | RBL Bank Limited |
| 19. | South Indian Bank Limited |
| 20. | Tamilnad Mercantile Bank Limited |
| 21. | YES Bank Limited |
| Local Area Banks (LABs) | |
| 22. | Coastal Local Area Bank Limited |
| 23. | Krishna Bhima Samruddhi Local Area Bank Limited |
| 24. | Subhadra Local Area Bank Limited |
| Small Finance Banks (SFBs) | |
| 25. | Au Small Finance Bank Limited |
| 26. | Capital Small Finance Bank Limited |
| 27. | FINCARE Small Finance Bank Limited |
| 28. | Equitas Small Finance Bank Limited |
| 29. | ESAF Small Finance Bank Limited |
| 30. | Suryoday Small Finance Bank Limited |
| 31. | Ujjivan Small Finance Bank Limited |
| 32. | Utkarsh Small Finance Bank Limited |
| 33. | North East Small Finance Bank Limited |
| Payments Banks (Pbs) | |
| 34. | Airtel Payments Bank Limited |
| 35. | India Post Payments Bank Limited |
| 36. | Fino Payments Bank Limited |
| 37. | Paytm Payments Bank Limited |
| Foreign Banks | |
|---|---|
| S.No. | Private Bank India List |
| 1. | Abu Dhabi Commercial Bank Ltd. |
| 2. | American Express Banking Corp. |
| 3. | Arab Bangladesh Bank Ltd. |
| 4. | Australia & New Zealand Banking Group Ltd. |
| 5. | Antwerp Diamond Bank NV |
| 6. | Bank International Indonesia |
| 7. | Bank of America |
| 8. | Bank of Bahrain and Kuwait B.S.C. |
| 9. | Bank of Ceylon |
| 10. | Bank of Nova Scotia |
| 11. | Bank of Tokyo Mitsubishi -UFJ Ltd. |
| 12. | Barclays Bank Plc. |
| 13. | BNP Paribas |
| 14. | Citibank N.A. |
| 15. | Credit Agricole Corporate & Investment Bank |
| 16. | Chinatrust Commercial Bank |
| 17. | Credit Suisse A.G |
| 18. | Commonwealth Bank of Australia |
| 19. | DBS Bank Ltd. |
| 20. | Deutsche Bank |
| 21. | First Rand Bank Ltd |
| 22. | Hong Kong and Shanghai Banking Corporation Ltd. |
| 23. | Industrial & Commercial Bank of China |
| 24. | JP Morgan Chase Bank N.A. |
| 25. | JSC VTB Bank |
| 26. | Krung Thai Bank Plc |
| 27. | Mizuho Bank Ltd. |
| 28. | Mashreqbank |
| 29. | National Australia Bank |
| 30. | Oman International Bank SAOG |
| 31. | Rabobank International |
| 32. | Shinhan Bank |
| 33. | SocieteGenerale |
| 34. | Sonali Bank |
| 35. | Standard Chartered Bank |
| 36. | SBM Bank (Mauritius) Ltd |
| 37. | Sberbank |
| 38. | Sumitomo Mitsui Banking Corporation |
| 39. | The Royal Bank of Scotland N.V. |
| 40. | UBS AG |
| 41. | United Overseas Bank Ltd |
| 42. | Westpac |
| 43. | Woori Bank |
| Regional Rural Banks in Andhra Pradesh | |
|---|---|
| S.No. | Bank |
| 1. | Andhra Pradesh Grameena Vikas Bank |
| 2. | Andhra PragathiGrameena Bank |
| 3. | Chaitanya Godavari Grameena Bank |
| 4. | SaptagiriGrameena Bank |
| Regional Rural Banks in Telangana | |
| 5. | Telangana Grameena Bank |
| Regional Rural Banks in Assam | |
| 6. | Assam Gramin Vikash Bank |
| 7. | LangpiDehangi Rural Bank |
| Regional Rural Banks in Arunachal Pradesh | |
| 8. | Arunachal Pradesh Rural Bank |
| Regional Rural Banks in Bihar | |
| 9. | Uttar Bihar Gramin Bank |
| 10. | Madhya Bihar Gramin Bank |
| 11. | Bihar Gramin Bank |
| Regional Rural Banks in Chhattisgarh | |
| 12. | Chhattisgarh Rajya Gramin Bank |
| Regional Rural Banks in Gujarat | |
| 13. | Dena Gujarat Gramin Bank |
| 14. | Baroda Gujarat Gramin Bank |
| 15. | Saurashtra Gramin Bank |
| Regional Rural Banks in Haryana | |
| 16. | Sarva Haryana Gramin Bank |
| Regional Rural Banks in Himachal Pradesh | |
| 17. | Himachal Pradesh Gramin Bank |
| Regional Rural Banks in Jharkhand | |
| 18. | Jharkhand Gramin Bank |
| 19. | VananchalGramin Bank |
| Regional Rural Banks in Jammu & Kashmir | |
| 20. | Jammu And Kashmir Grameen Bank |
| 21. | EllaquaiDehati Bank |
| Regional Rural Banks in Karnataka | |
| 22. | Kaveri Grameena Bank |
| 23. | Karnataka Vikas Grameena Bank |
| 24. | Pragathi Krishna Gramin Bank |
| Regional Rural Banks in Kerala | |
| 25. | Kerala Gramin Bank |
| Regional Rural Banks in Maharashtra | |
| 26. | Maharashtra Gramin Bank |
| 27. | Vidharbha Konkan Gramin Bank |
| Regional Rural Banks in Maharashtra | |
| 28. | Narmada JhabuaGramin Bank |
| 29. | Central Madhya Pradesh Gramin Bank |
| 30. | Madhyanchal Gramin Bank |
| Regional Rural Banks in Manipur | |
| 31. | Manipur Rural Bank |
| Regional Rural Banks in Meghalaya | |
| 32. | Meghalaya Rural Bank |
| Regional Rural Banks in Mizoram | |
| 33. | Mizoram Rural Bank |
| Regional Rural Banks in Nagaland | |
| 34. | Nagaland Rural Bank |
| Regional Rural Banks in Orissa | |
| 35. | Odisha Gramya Bank |
| 36. | Utkal Grameen Bank |
| Regional Rural Banks in Punjab | |
| 37. | Punjab Gramin Bank |
| 38 | MalwaGramin Bank |
| 39. | Sutlej Gramin Bank |
| Regional Rural Banks in Puducherry | |
| 40. | PuduvaiBharathiarGrama Bank |
| Regional Rural Banks in Rajasthan | |
| 41. | Baroda Rajasthan KsethriyaGramin Bank |
| 42. | Rajasthan MarudharaGramin Bank |
| Regional Rural Banks in Rajasthan | |
| 43. | PandyanGrama Bank |
| 44. | PallavanGrama Bank |
| Regional Rural Banks in Rajasthan | |
| 45. | Tripura Gramin Bank |
| Regional Rural Banks in Uttar Pradesh | |
| 46. | Allahabad UP Gramin Bank |
| 47. | Baroda UP Gramin Bank |
| 48. | Gramin Bank of Aryavrat |
| 49. | Kashi Gomti SamyutGramin Bank |
| 50. | Prathama Bank |
| 51. | Purvanchal Bank |
| 52. | Sarva UP Gramin Bank |
| Regional Rural Banks in Uttarakhand | |
| 53. | Uttarakhand Gramin Bank |
| Regional Rural Banks in West Bengal | |
| 54. | BangiyaGramin Vikash Bank |
| 55. | Paschim BangaGramin Bank |
| 56. | UttarbangaKshetriyaGramin Bank |
Quiz
1. How many public sector banks are there in India?
There are 27 public sector banks in India.
2. When is the first bank established in India?
The first bank established in the country is the general bank of India which was founded in the year 1786
3. How many payment banks in India?
There are six payment banks in India. In this post, I would give you the list of payments banks. RBI had given license to 11 payment banks hence, more would be coming.
Name of the payment banks in India
-
1. Airtel payment banks in India
2. Paytm payment banks in India
3. Fino payment bank
4. Indian post payment bank
5. Jio payment bank
6. Aditya Birla idea payment bank.