Public Sector Banks in India: Complete List of Public Sector Banks

Public Sector Banks in India: The bank plays a vital role in maintaining the whole economy throughout India. The main procedure of all the Indian banks is to keep the transaction list properly. People can quickly pay and receive money with the use of government banks. The Reserve Bank of India is the best central bank that helps in performing various tasks to hold all other banks in India. However, Finance Minister Nirmala Sitharaman announced on 30th August 2019 to merge multiple series of government banks of India. Thus, after this announcement, many banks joined, and now India consists of 12 public sector banks.  

List of 12 Government Banks in India

The stake of the government is above fifty percent under all public sector banks. The public sector and government banks also get to be known as nationalized banks. The List of twelve government banks has given below:

State Bank of India

It is the first largest central government bank in India. It also gets to be known as the Imperial Bank of India. India. SBI is ranked 236^th on the Fortune Global 500 list. With the merger with its 5 associates banks, SBI has the largest branch network in India. Tagline- Pure Banking, Nothing Else

Punjab National Bank

Punjab National Bank is the second-largest government bank. The new name of merged Punjab National Bank, Oriental Bank, and United Bank is Amalgamated 3. The tagline of PNB is –The name you can Bank Upon.

Bank Of Baroda

Bank of Baroda is the third-largest bank of India. The merging of Dena Bank and Vijaya Bank created the Bank of Baroda. Bank of Baroda is an Indian multinational bank. Tagline: India’s International Bank

 Bank Of Maharashtra

The Bank of Maharashtra originated in 1969. It was founded and created by D.K Sathe as well as V.G. Kale. Bank of Maharashtra is a major public sector bank. Tagline: One Family One Bank.

Bank Of India

Bank of India is a leading nationalized bank. It was founded by a distinguished group of Maharashtra as well as Mumbai. Bank of India is the founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications). Tagline: Relationship Beyond Banking.

Union Bank Of India

Union Bank of India is a very famous government bank. It consists of 3040 ATMs under them. It contains complete automatic 2600 CBS branches. The tagline of this bank- Good People to Bank With.

Canara Bank

Canara Bank is the largest famous public sector government bank in India. Canara Bank will merge with Syndicate Bank to become the fourth largest Public Sector Bank in the country. The tagline of Canara Bank is- Together we can.

Central Bank Of India

It was founded by Ammembal Subba Rao Paiand. It originated in 1969 at Mangalore. Established in 1911, the financial organization of India was the primary Indian bank that was the whole closely-held and managed by Indians. Tagline- Central to you since 1911.

Indian Bank

Indian Bank is the oldest bank of India, which includes the 20924 rates of employees. It also contains 2900 bank branches and 2861 ATMs under them. Tagline of this bank is- Your Own Bank.

Indian Overseas Bank

The founder of the Indian Overseas Bank is Thiru.M.Ct.M. Chidambaram Chettiar. It has formalized foreign exchange operations with high capability. It is the fastest and largest top performer among Government banks. Tagline- Good People to Grow With

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UCO Bank

It was established in 1943 in Kolkata, India. The founder of UCO bank is a group of eminent Indian industrialists. It is a commercial bank that has provided an excellent economic facility to people. The tagline of UCO bank is- Honours Your Trust.

Punjab and Sind Bank

The Punjab and Sind Bank has 623 branches in Punjab state, and throughout the country, it has 1559 bank branches. This is a public sector bank of India. The tagline of this bank- Where Service Is A Way Of Life.

Frequently Asked Questions

Q1. How many government banks are there in India?
Ans. After the merger, there are 12 public sector banks in India?

Q2. Which banks have been merged in India?
Ans. From 1 April the merger of the following has come into effect:

• Punjab National Bank has taken over Oriental Bank of Commerce and United Bank.
• Canara Bank has taken over Syndicate Bank.
• Union Bank of India has taken over Andhra Bank and Corporation Bank.
• Indian Bank has taken Allahabad Bank.

Q3. What are the types of commercial banks in India?
Ans. Public Sector Banks, Private Sector Banks, and Foreign Banks

Q4. How many Private Sector Banks are there in India?
Ans. There are total 22 Private Sector Banks in India- IDBI Bank, Yes Bank, Tamilnad Mercantile Bank, South Indian Bank, RBL Bank, Nainital bank, Lakshmi Vilas Bank, Kotak Mahindra Bank, Karur Vysya Bank, Karnataka Bank, Jammu & Kashmir Bank, IDFC FIRST Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Federal Bank, Dhanlaxmi Bank, DCB Bank, City Union Bank, CSB Bank, Bandhan Bank, and Axis Bank.

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