List of Nationalised Banks In India 2020: 12 Public Sector Banks (PSBs) and First Nationalised Bank in India

Complete List of Public Sector Banks of India. Check the list of Nationalised Banks In India 2020, Name of Nationalised Banks, Total Nationalised Banks and other details in this post.

List of Nationalised Banks In India 2020:- In the backdrop of  banking sector reform in India and to stipulate the economic growth, the Finance Minister of India Nirmala Sitharaman announced the merger of ten banks into four and on 1st April 2020 this announcement has come into effect. After this massive amalgamation, the total number of Public Sector Banks (PSBs) in India has come down from 27 banks in 2017 to 12 in 2020.

Currently India has 12 Public sector banks and RBI is the central authority that manages all the banking operations in India. In banking exams, questions are asked from the current affairs section and questions from this topic has been seen in the recently conducted exams. It’s important for students to go through it carefully and remember all these mergers as it can easily fetch them those bonus marks required for selection. Check the list of Nationalised Banks In India 2020, Name of Nationalised Banks, Total Nationalised Banks and other details in this post.

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How many Nationalised Bank in India?

Public Sector Bank is the bank that is owned by the Government or is the major shareholder of more than 51% in the bank. Check the total nationalised banks in India,  SBI (State Bank of India) became the first nationalised bank in india under the SBI Act of 1955.

RBI regulates the banking sector. The merger will help in increasing the productivity, efficiency and boosting the six year low economy along with reducing the number of bad loans and NPA’s.In the past year 10 Public Sector Banks were merged into 4 banks. As of now the country has 12 public Sector Banks.

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Public Sector Bank Headquarter Tag Line
1. Punjab National Bank New Delhi The Name you can Bank Upon
2. Indian Bank Chennai Your Tech-friendly bank
3. State Bank of India Mumbai With you all the way, Pure Banking Nothing Else, The Nation’s banks on us
4. Canara Bank Bangalore Together we can
5. Union Bank of India Mumbai Good people to bank with
6. Indian Overseas bank Chennai Good people to grow with
7. UCO Bank Kolkata Honors Your Trust
8. Bank of Maharashtra Pune One Family One Bank
9. Punjab and Sind Bank Rajendra Place, New Delhi Where Service Is A Way Of Life
10. Bank of India Mumbai Relationships beyond Banking
11. Central Bank of India Mumbai Central To you Since 1911, Build A Better Life Around Us
12. Bank of Baroda Gujarat India’s International Bank

Punjab National Bank

PNB is the first Swadeshi Bank, which commenced its operations on April 12, 1895, from Lahore, and had authorized capital of Rs 2 lac and working capital of Rs 20,000. The Bank was established to help the Indians.

Indian Bank

Indian Bank was established on 15th August 1907  along with the Swadeshi movement. It has all India presence with 9786 touch points comprising 2872 domestic branches, 3892 ATMs/BNAs and 3022 BCs.

State Bank of India

SBI is the largest commercial bank of the country and has a history of 200 years. SBI is the largest in terms of assets, deposits, profits, branches, customers and employees, etc. The Government of India has a stake of more than 50% in SBI.

Canara Bank

Founded as ‘Canara Bank Hindu Permanent Fund’ in 1906, by late Shri Ammembal Subba Rao Pai, a philanthropist, this small seed blossomed into a limited company as ‘Canara Bank Ltd.’ in 1910 and became Canara Bank in 1969 after nationalization.

Union Bank of India

The bank was established on 11th November 1919, the Bank now operates through over 4200+ branches across the country. The Bank’s core values of prudent management without ignoring opportunities is reflected in the fact that the Bank has shown uninterrupted profit during all 96 years of its operations.

Indian Overseas Bank

The bank was founded on 10th February 1937 by Shri. M.Ct.M. Chidambaram Chettyar, a pioneer in many fields. The Bank was founded by him with the main objective of specializing in foreign exchange business in banking to take the Bank across the globe

UCO Bank

Founded in 1943, UCO Bank is an advertisement bank and a Government of the Republic of India endeavor. Its Board of administrators consists of state representatives from the govt of {india|India|Republic of the Republic of India|Bharat|Asian country|Asian nation} and depository financial institution of India moreover as eminent professionals like accountants, management consultants, economists, businessmen, etc.

Bank Of Maharashtra

Maharashtra has been a progressive region additionally the} Banking activity was also started during this region quite early. traditionally speaking, the Bank of Mumbai established in 1840 was the primary depository financial institution in geographic area. However, the primary depository financial institution found out in geographic area outside metropolis was The Poona Bank established in 1889 at Pune followed by The Deccan Bank in 1890 and therefore theMumbai financial organization in 1898.

Punjab and Sind Bank

It was in the year 1908 when a humble idea to uplift the poorest of poor of the land culminated in the birth of Punjab & Sind Bank with the far-sighted vision of luminaries like BhaiJ Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh. The bank was founded on the principle of social commitment to help the weaker section of the society in their economic endeavors to raise their standard of life.

Bank of India

Bank of India was based on seventh Sept, 1906 by a gaggle of eminent businessmen from Bombay. The Bank was beneath-public possession and management until July 1969 once it absolutely was nationalized at the side of thirteen different banks. starting with one workplace in Bombay, with a paid capital of Rs.50 hundred thousand and fifty workers, the Bank has created a rising over the years and blossomed into a mighty establishment with a robust national presence and sizable international operations.

Central Bank of India

Established in 1911, the financial organization of India was the primary Indian bank that was the whole closely-held and managed by Indians. The institution of the Bank was the final word realization of the dream of Sir Sorabji Pochkhanawala, founding father of the Bank. Sir Pherozesha Mehta was the primary Chairman of a very ‘Swadeshi Bank’.

Bank of Baroda

Bank of Baroda is an Indian state-owned International banking and money services company headquartered in Vadodara (earlier referred to as Baroda) in Gujarat, India. The bank was supported by the Prince of Baroda, prince Sayajirao Gaekwad III on twenty Gregorian calendar month 1908.

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Frequently asked Questions:

Q. How many Nationalised banks in india in India?

Ans. After the merger, there are total 12 PSBs in India.

Q. How many Nationalised Banks in India are amalgamated?

Ans. Ten banks have been amalgamated into Four.

Q. What is the name of nationalised banks of 12 PSBs in India?

Ans. The name of 12 PSBs are: Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank and Bank of Maharashtra, State Bank Of India.

Q. Where is the Headquarter of SBI?

Ans. The headquarter of SBI is at Mumbai.

Q. Where is the Headquarter of Punjab National Bank?

Ans. The Headquarter of Punjab National Bank is in New Delhi.