Entri Blog
No Result
View All Result
Tuesday, June 28, 2022
  • State Level PSC
    • Kerala PSC
    • TNPSC
    • APPSC
    • TSPSC
    • BPSC
    • Karnataka PSC
    • MPPSC
    • UPPSC
  • Banking
  • SSC
  • Railway
  • Other Govt. Exam
  • TET
    • APTET
    • CTET
    • DSSSB
    • Karnataka TET
    • Kerala TET
    • KVS
    • MPTET
    • SUPER TET
    • TNTET
    • TSTET
    • UPTET
FREE GK TEST: SIGNUP NOW
Entri Blog
  • State Level PSC
    • Kerala PSC
    • TNPSC
    • APPSC
    • TSPSC
    • BPSC
    • Karnataka PSC
    • MPPSC
    • UPPSC
  • Banking
  • SSC
  • Railway
  • Other Govt. Exam
  • TET
    • APTET
    • CTET
    • DSSSB
    • Karnataka TET
    • Kerala TET
    • KVS
    • MPTET
    • SUPER TET
    • TNTET
    • TSTET
    • UPTET
No Result
View All Result
Entri Blog
Free GK Test
banner top article banner top article
Home Articles

List of Government Banks in India 2022: All you need to know

by Uma Varier
May 13, 2022
in Articles, Banking
Government Banks in India
Share on FacebookShare on WhatsAppShare on Telegram

Table of Contents

  • Government Banks in India 2022 (Public Sector Banks)
  • The Future of the Banks

The Banks play an important role in the economy of our country like any other country as most of the transactions take place through the banks. The Reserve Bank of India is India’s central banking institution and the supreme monetary authority. There are 3 types of commercial banks, the Public/ Government bank, the Private sector bank, Regional Rural Banks, and the Foreign sector bank. The announcement of a series of mergers involving public sector banks by Finance Minister Nirmala Sitharam was made on 30th August 2019. Check the complete list of Government banks in India to date 2022-23.

To know more about the banking terms check out the following link

Blog Popup-03

Government Banks in India 2022 (Public Sector Banks)

These banks in which the government stake is more than 50% and there is no difference between the Nationalised Bank and Public Sector Bank.  Both have the same meaning.

The former list of Government banks in India was

  • Allahabad Bank
  • Andhra Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central Bank of India
  • Corporation Bank
  • Dena Bank
  • Indian Bank
  • Indian Overseas Bank
  • Oriental Bank of Commerce
  • Punjab & Sind Bank
  • Punjab National Bank
  • Syndicate Bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank
  • IDBI Bank((77.79% government stake)
  • SBI+and its five associate banks
  • Bharatiya Mahila Bank

With the announcement made on 30th August 2019, the number of public sector banks (government banks) has come down from 27 in 2017 to 12.

Download Entri App for free GK Mock Test

Below are the mergers of the public sector banks( Government Banks) as announced

Banks to be merged Rank
Punjab National Bank, Oriental Bank of Commerce, and United Bank 2nd largest Public Sector Bank
Canara Bank and Syndicate Bank 4th largest Public sector Bank
Union Bank, Andhra Bank, and Corporation bank 5th largest Public Sector Bank
Indian Bank and Allahabad Bank 7th largest Public sector Bank

Download the Entri app for Bank Exam related mock test 

The Current List of 12 Public Sector Banks in India 2022(Government Banks)

State Bank of India, 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.

Bank Name Revenues Established Headquarters Information
State Bank of India ₹2,110 billion 1955 Mumbai, Maharashtra Formerly known as Imperial Bank of India, SBI remains to date the largest public sector bank in India.
Punjab National Bank

 

₹774.22 billion 1894 New Delhi, Delhi The new name of the amalgamated 3(Punjab National Bank, Oriental Bank of Commerce, and United Bank).
2nd largest public sector bank in India.
Bank of Baroda

 

₹422 billion 1908 Vadodara, Gujarat Dena Bank and Vijaya Bank merged with Bank of Baroda, creating the third-largest public sector bank by loans in the country.
Bank of India ₹418 billion 1906 Mumbai, Maharashtra BOI is a commercial bank nationalized in July 1969 along with 13 other banks.
founded by a group of eminent businessmen from Mumbai, Maharashtra
Bank of Maharashtra ₹130.53 billion 1935 Pune Maharashtra The bank was founded by V. G. Kale and D. K. Sathe and registered It was nationalized in 1969.
Union Bank of India ₹696.39 billion 1919 Mumbai, Maharashtra The  bank has a network of 2,600 fully automated CBS branches, 3,040 ATMs
Canara Bank ₹558.30 billion 1906 Bengaluru, Karnataka Canara Bank is one of the largest nationalized public sector banks

Established at Mangalore by Ammembal Subba Rao Paiand and nationalized in 1969

Central Bank of India ₹259 billion 1911 Mumbai, Maharashtra Oldest and largest commercial banks
Indian Bank ₹405.74 billion 1907 Chennai, Tamilnadu It has 20,924 employees, 2900 branches with 2861 ATMs, and 1014 cash deposit machines and is one of the top-performing public sector banks in India
Indian Overseas bank ₹235.2 billion 1937 Chennai, Tamilnadu Thiru.M. Ct. M. Chidambaram Chettiar established the Indian Overseas Bank (IOB) to encourage overseas banking and foreign exchange operations

 

Punjab and Sind Bank ₹87.44 billion 1908 New Delhi Of its 1559 branches spread throughout India, 623 branches are in Punjab state.
UCO Bank ₹185.61 billion 1943 Kolkata, WB UCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is a major government-owned commercial bank of India. G. D. Birla, an eminent Indian industrialist was the architect of this organization

The Future of the Banks

The landscape of India’s financial sector is changing and the current merger plans hope to bring stability. Larger banks will have more stability and strength making the job of the regulators easier. These major reforms in the banking sector are part of the government’s efforts to revive the economy, build a robust banking system, enable the banks to compete globally, and increase their operational efficiency by reducing their cost of lending.

Blog Popup-03Get a Higher Rank in Competitive Exam! Download Entri App Now!

Attempt FREE Quiz and Boost Your GA Knowledge!

Which of the following is the State bird of Telangana?
The Scientific name of the animal Hangul?
Which is the state bird of Delhi?
The Scientific name of African Marigold?
Which is the state animal of Meghalaya?
Which is the largest state in india in terms of area?
Which is the largest coffee producing state of India?
Which state has the largest population?
The state with least population?
The state with least population density?
Which state has boudaries with seven states and two countries?
Share23340SendShare
Uma Varier

Uma Varier

Related Posts

Why Python is Best Suited for Machine Learning?
Articles

Why Python is Best Suited for Machine Learning?

June 28, 2022
How to Get Jobs in Digital Marketing for Freshers?
Articles

How to Get Jobs in Digital Marketing for Freshers?

June 28, 2022
Indian vs US Stock Market A Comparative Analysis
Articles

Indian vs US Stock Market: A Comparative Analysis

June 28, 2022
Next Post
SSC MTS Study Material

SSC MTS Study Material - Best Books for Tier I and Tier II

Discussion about this post

Latest Posts

  • KVS TGT Eligibility Criteria 2022 – Age Limit, Qualification
  • What is Random Number Generator in Python?
  • KVS TGT Vacancy 2022
  • What is the Distinction between Debtor and Creditor?
  • CWC Syllabus 2022 – Check Section Wise Syllabus

Trending Posts

  • states of india and their capitals and languages

    List of 28 States of India and their Capitals and Languages

    147010 shares
    Share 58801 Tweet 36751
  • List of Government Banks in India 2022: All you need to know

    58349 shares
    Share 23340 Tweet 14587
  • TNPSC Group 2 Posts and Salary Details 2022

    36960 shares
    Share 14784 Tweet 9240
  • New Map of India with States and Capitals 2022

    27856 shares
    Share 11142 Tweet 6964
  • Kerala Devaswom Board LDC Syllabus 2022 – Download PDF

    595 shares
    Share 238 Tweet 149

Company

  • Become a teacher
  • Login to Entri Web

Quick Links

  • Articles
  • Videos
  • Entri Daily Quiz Practice
  • Current Affairs & GK
  • News Capsule – eBook
  • Preparation Tips
  • Kerala PSC Gold
  • Entri Skilling

Popular Exam

  • IBPS Exam
  • SBI Exam
  • Railway RRB Exam
  • Kerala PSC
  • Tamil Nadu PSC
  • Telangana PSC
  • Andhra Pradesh PSC
  • MPPSC
  • UPPSC
  • Karnataka PSC
  • Staff Selection Commission Exam

© 2021 Entri.app - Privacy Policy | Terms of Service

No Result
View All Result
  • State Level PSC
    • Kerala PSC
    • TNPSC
    • APPSC
    • TSPSC
    • BPSC
    • Karnataka PSC
    • MPPSC
    • UPPSC
  • Banking
  • SSC
  • Railway
  • Other Govt. Exam
  • TET
    • APTET
    • CTET
    • DSSSB
    • Karnataka TET
    • Kerala TET
    • KVS
    • MPTET
    • SUPER TET
    • TNTET
    • TSTET
    • UPTET

© 2021 Entri.app - Privacy Policy | Terms of Service

Try After Few Days!
30% OFF
Next time
Next time
Almost!
70% OFF
20% OFF
Next Time
Next time
Almost!
40% OFF
60% OFF
Unlucky
Spin the Wheel to Win FREE PREP on our courses! PSC, SSC, RRB, Banking, TET
Enter your email address and spin the wheel. This is your chance to win amazing discounts!
Our in-house rules:
  • One game per user
  • Cheaters will be disqualified.
  • Offer applicable for 1st time ENTRI users!