How Many Public Sector Banks Are There In India In 2021?

Public sector banks in India 2021: A bank is a financial institution that is authorized to receive money and perform several functions such as wealth management, granting a loan, currency exchange, financial services, saving account, safeguarding money, and investing the deposits in funds. The Finance Minister of India, Nirmala Sitharaman announced the merging of few banks, and the announcement has already come into effect. The total number of public sector banks in India has come down from 27 banks in 2017 to 12 banks in 2021, after this amalgamation. In this article, we will be looking at the list of Public sector banks in India 2021.

How Many Public Sector Banks Are There In India In 2021?

 India currently has 12 public sector banks and RBI is a central authority that manages all the banking operations in India. What are the names of the public sector banks in India? This is a very common question that is frequently asked In the current affairs section of various banking examinations. Now let us look at the below list of Public sector banks in India 2021.

List of Public sector Banks in India 2021.

  1.  State Bank of India
  2. Punjab National Bank ( with the merger of Oriental bank of commerce and United bank of India)
  3. Indian Bank (with the merger of Allahabad bank)
  4. Canara Bank (with the merger of syndicate bank)
  5. Union Bank of India (with the merger of Andhra bank and Corporation bank)
  6. Indian Overseas Bank
  7. UCO Bank
  8. Punjab and Sind Bank
  9. The Central Bank of India
  10. Bank of Baroda
  11. Bank of Maharashtra
  12. Bank of India

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FAQs: Public Sector Banks in India 2021

Q. How Many Public Sector Banks Are There In India In 2021?

Ans: There are 12 Pubic Sector Banks in India.

Q. Where is the Headquarter of the State Bank of India?

Ans: Mumbai

Q. How many Nationalized Banks in India are amalgamated?

Ans. Ten banks have been amalgamated into Four.

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