List of Government Banks in India 2024: Which Is Best Public Bank?

List of Government Banks in India | 12 Public Sector Banks Details Pdf. Government banks, also known as public sector banks, are banks that are owned and operated by the government of India. These banks provide various financial services like saving money, giving loans, and helping with other money-related needs.

The economy of any country is based on expenditure and savings, and based on this, it is concluded that what is the economy of the country as to what is the economy of the country.

Banks, like any other country, play an important role in our country’s economy, including government and private sector banks. To improve the banking sector in India and stimulate economic growth, Finance Minister Nirmala Sitharaman announced the merger of some banks, which was effective after some time.

If we talk about public sector banks in the country, the number of public sector banks (PSBs) has come down from 27 banks to 12 after the merger. In such a situation, the question will be coming to your mind, what are the names of these 12 public sector banks? Here you are provided complete information about the list of public sector banks in India.

List of Government Banks in India
List of Government Banks in India

What are Government Banks?

Government banks, also known as public sector banks, are banks where the government owns more than 50% of the shares. This means the government controls and manages these banks.

List of Government Banks in India 2024

A public sector bank or public sector bank is a bank owned by the government, i.e., in which more than 51 per cent of the share remains with the government. These banks are colloquially called Sarkari Banks. It can be both the state government and the centrally-owned state-owned banks. For example, India’s largest public sector bank is the State Bank of India, with a 52% government stake.

  • State Bank of India
  • Punjab National Bank
  • Bank of Baroda
  • Canara Bank
  • Union Bank of India
  • Bank of India
  • Indian Bank
  • Central Bank of India
  • Indian Overseas Bank
  • UCO Bank
  • Bank of Maharashtra
  • Punjab & Sindh Bank

Software Used By Different Banks: List Of Software Banks Use In India And Rest Of the World.

S.NO Bank Name Establishment Headquarter
1. State Bank of India 1955 Mumbai, India
2. Punjab National Bank 1908 New Delhi, India
3. Bank of Baroda 1908 Gujarat, India
4. Canara Bank 1906 Bangalore, India
5. Union Bank of India 1919 Mumbai, India
6. Bank of India 1906 Mumbai, India
7. Indian Bank 1907 Chennai, India
8. Central Bank of India 1911 Mumbai, India
9. Indian Overseas Bank 1937 Chennai, India
10. UCO Bank 1943 Kolkata, India
11. Bank of Maharashtra 1935 Pune, India
12. Punjab & Sindh Bank 1894 Rajendra Place New Delhi, India

List of Government Banks in India: भारत के सरकारी बैंकों की सूची

List of Government Banks in India in Hindi is provided below.

 क्र०स०   बैंक का नाम मुख्यालय
1. पंजाब नेशनल बैंक नई दिल्ली
2. इंडियन बैंक चेन्नई
3. भारतीय स्टेट बैंक मुंबई
4. केनरा बैंक बैंगलोर
5. यूनियन बैंक ऑफ इंडिया मुंबई
6. इंडियन ओवरसीज बैंक चेन्नई
7. यूको बैंक कोलकाता
8. बैंक ऑफ महाराष्ट्र पुणे
9. पंजाब एंड सिंध बैंक नई दिल्ली
10. बैंक ऑफ इंडिया मुंबई
11. सेंट्रल बैंक ऑफ इंडिया मुंबई
12. बैंक ऑफ बड़ौदा गुजरात

Top 10 Government Banks In India:

Sate Bank of India (SBI)
  • SBI having 23% of shares of the total market assets in India, Sate Bank of India is the largest public sector bank of India.
  • SBI also holds 1/4th of the total loans and deposits in the current financial market.
Punjab Nation Bank
  • PNB has become the 2nd largest public sector bank in India with an overall business of around INR 8 Trillion.
  • Punjab National Bank provides a wide range of amazing products to its customers.
Union Bank of India
  • Union Bank of India has been a steady performer over the years.
  • Andhra Bank and Corporation Bank merged into this bank, taking the overall business to INR 14.59 Trillion.
Canara Bank
  • Canara Bank has become the 4th largest PSU bank after the recent merger of Syndicate Bank into it.
  • Canara Bank is one of the oldest public sector banks in India.
Bank of Baroda
  • Bank of Baroda known as India’s International Bank, has served over 127 million customers across 21 countries and its consumer base is only growing with each passing day.
Bank Of India
  • Bank of India has been serving its customers efficiently since founded in 1906 and has become a government-owned bank.
Indian Bank
  • Indian Bank is the 7th largest PSU bank in India.
  • After the recent merger of Allahabad Bank into it, Indian Bank has grown into a stronger position.
Central Bank of India
  • Central Bank has a wide network of branches across all 29 states and also in 6 out of 7 Union Territories in India.
  • Central Bank of India was also the 1st commercial bank to be completely managed and owned by Indians.
Indian Overseas Bank
  • Indian Overseas Bank holds a pretty important place because of the impeccable banking product and trust it provides to its customers.
  • Indian Overseas was founded in 1932 and had the primary goal of having specialization in Foreign Exchange Business in banking to take the institution across the world.
Bank of Maharashtra
  • Bank of Maharashtra is one of the finest public sector banks in India.
  • As its Tagline suggests ‘One Family One Bank’, Bank of Maharashtra always had a tech-savvy and customer-centric focus over the years.

Why are Government Banks Important?

  1. Safety: Government banks are considered safe because they are backed by the government.
  2. Accessibility: They have many branches, even in rural areas, making it easy for people to access banking services.
  3. Support for Growth: These banks provide loans to individuals and businesses, helping them grow and contribute to the economy.
  4. Various Services: They offer a range of services like savings accounts, fixed deposits, loans, and more, helping people manage their money effectively.
  5. Passbook: When you open a savings account, you get a passbook where all your transactions are recorded.
  6. ATMs: Automated Teller Machines (ATMs) are provided by banks so you can withdraw money anytime.
  7. Digital Banking: Many government banks offer mobile apps for easy and convenient banking from home.

FAQ: List of Government Banks in India

How many banks are government banks in India?

Ans: there are a total of 12 Government Banks In India And the Full Details of all Government Banks Are provided Above in the table.

Which banks are government banks in India?

Ans: These are all Public Sector banks in India

  • State Bank of India
  • Central Bank of India
  • Bank of Baroda
  • Punjab National Bank
  • Canara Bank
  • Union Bank of India
  • Bank of Maharashtra
  • Indian Overseas Bank
  • Indian Bank
  • UCO Bank
  • Bank of India
  • Punjab and Sind Bank.
Which are the 14 government banks in India Nationalised In 1969?

Ans: In 1969 These Banks were nationalised.

  • Allahabad Bank
  • Canara Bank
  • United Bank of India
  • UCO Bank
  • Syndicate Bank
  • Indian Overseas Bank
  • Bank of Baroda
  • Punjab National Bank
  • Bank of India
  • Bank of Maharashtra
  • Central Bank of India
  • Indian Bank
  • Dena Bank
  • Union Bank
Which is the No. 1 bank in India?

Ans: The State Bank of India Is the Number one Bank In India.

Which Indian banks will never go bankrupt Or Too Big To Fail?

Ans: According to the Reserve Bank of India (RBI), the three biggest banks in India—the public sector State Bank of India (SBI), the private sector HDFC Bank, and ICICI Bank Are Too Big to Fail. These Banks Are Not Easy To Fail or Bankrupt.

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