What is the Public Sector Bank?
Public Sector Banks in India – Public Sector Banks (PSBs) are the banks where a majority percentage (more than 50%) stake is held by a government. The shares of these banks are listed on stock exchanges. In India, there are about 27 Public Sector Banks in India.
- There are a total of 27 PSBs in India – 21 Nationalized banks + 6 State bank group (SBI + 5 associates) and rest two are IDBI Bank and Bharatiya Mahila Bank, which are categorized as other public sector banks.
PUBLIC SECTOR BANKS IN INDIA
State Bank and its Associates Banks
|Serial 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|
|4||State Bank of Hyderabad||Hyderabad||You can always bank on us|
|5||State Bank of Mysore||Bangalore||Working for a better tomorrow|
|3||State Bank of Patiala||Punjab|
|6||State Bank of Travancore||Thiruvananthapuram||A Long Tradition of Trust|
SBT is set to be merged with State Bank of India with effect from 1st April 2017.
Other Nationalized Banks
|Serial No||Bank Name||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||Honours 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||Bharatiya Mahila Bank||New Delhi||Empowering women, Empowering Ind”|
- There are total 93 commercial banks in India.
- The Bharatiya Mahila 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.