Entri Blog
No Result
View All Result
Saturday, March 25, 2023
  • State PSC
    • Kerala PSC
    • TNPSC
    • APPSC
    • TSPSC
    • BPSC
    • Karnataka PSC
    • MPPSC
    • UPPSC
  • Banking
    • IBPS PO Notification
    • IBPS Clerk Notification
    • SBI PO Notification
    • SBI Clerk Notification
    • SBI SO Notification
    • SBI Apprentice Notification
    • Canara Bank PO Notification
    • Indian Bank PO Notification
    • RBI Assistant Notification
    • RBI Office Attendant Notification
    • IBPS RRB Notification
    • IBPS RRB Office Assistant Notification
  • Govt Exams
    • Railway
    • SSC
  • Skilling
    • Coding
    • Spoken English
    • Stock Marketing
  • TET
    • APTET
    • CTET
    • DSSSB
    • Karnataka TET
    • Kerala TET
    • KVS
    • MPTET
    • SUPER TET
    • TNTET
    • TSTET
    • UPTET
  • Courses
    • Data Science Course
      • Data Science Malayalam
    • Full Stack Developer Course
      • Full Stack Development Malayalam
      • Full Stack Development Hindi
      • Full Stack Development Tamil
      • Full Stack Development Telugu
      • Full Stack Development Kannada
    • Stock Market Course
      • Stock Market Course in Malayalam
      • Stock Market Course in Tamil
      • Options Trading Course
    • Spoken English Course
      • Spoken English Course in Malayalam
      • Spoken English Course in Hindi
      • Spoken English Course in Telugu
      • Spoken English Course in Tamil
      • Spoken English Course in Kannada
  • Others
    • GATE
    • MAT
    • KMAT
Try out Spoken English!
Entri Blog
  • State PSC
    • Kerala PSC
    • TNPSC
    • APPSC
    • TSPSC
    • BPSC
    • Karnataka PSC
    • MPPSC
    • UPPSC
  • Banking
    • IBPS PO Notification
    • IBPS Clerk Notification
    • SBI PO Notification
    • SBI Clerk Notification
    • SBI SO Notification
    • SBI Apprentice Notification
    • Canara Bank PO Notification
    • Indian Bank PO Notification
    • RBI Assistant Notification
    • RBI Office Attendant Notification
    • IBPS RRB Notification
    • IBPS RRB Office Assistant Notification
  • Govt Exams
    • Railway
    • SSC
  • Skilling
    • Coding
    • Spoken English
    • Stock Marketing
  • TET
    • APTET
    • CTET
    • DSSSB
    • Karnataka TET
    • Kerala TET
    • KVS
    • MPTET
    • SUPER TET
    • TNTET
    • TSTET
    • UPTET
  • Courses
    • Data Science Course
      • Data Science Malayalam
    • Full Stack Developer Course
      • Full Stack Development Malayalam
      • Full Stack Development Hindi
      • Full Stack Development Tamil
      • Full Stack Development Telugu
      • Full Stack Development Kannada
    • Stock Market Course
      • Stock Market Course in Malayalam
      • Stock Market Course in Tamil
      • Options Trading Course
    • Spoken English Course
      • Spoken English Course in Malayalam
      • Spoken English Course in Hindi
      • Spoken English Course in Telugu
      • Spoken English Course in Tamil
      • Spoken English Course in Kannada
  • Others
    • GATE
    • MAT
    • KMAT
No Result
View All Result
Entri Blog
Spoken English
banner top article banner top article
Home Articles

List of Government Banks in India 2023: All you need to know

by Uma Varier
February 20, 2023
in Articles, Banking
Government Banks in India
Share on FacebookShare on WhatsAppShare on Telegram

Table of Contents

  • Government Banks in India 2023 (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 2023.

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

Blog Popup-03

Government Banks in India 2023 (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.

Register here to get Latest Study Materials on Bank Exam!

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 2023(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?

Related Articles

List of Indian Banks – Headquarters and their Taglines List of Bank Exams in India
New Map of India with States and Capitals 2023 Banks and Their Mobile Apps
Digital Banking Units in India – Key Facts List of 28 States of India and their Capitals and Languages
List of Regional Rural Banks(RRB) in India South Indian Bank Recruitment 2023 for PO, Clerk
Structure of Banking Industry Central Bank of India Recruitment 2023
Share24744SendShare
Uma Varier

Uma Varier

Related Posts

Rajasthan SET Admit Card 2023 Out
Admit Card

Rajasthan SET Admit Card 2023 Out, Direct Download Link

March 23, 2023
What are Question Tags - Uses and Examples
Articles

What are Question Tags – Uses and Examples

March 23, 2023
Kerala PSC Dental Hygienist Grade-II Syllabus and Exam Pattern 2023
Articles

Kerala PSC Dental Hygienist Grade-II Syllabus and Exam Pattern 2023

March 22, 2023
Next Post
ssc mts

SSC MTS Study Material 2022 - Best Books for Tier I and Tier II

Discussion about this post

Latest Posts

  • IAF Agniveer Vayu Exam Date 2023 Out: Exam Schedule, Admit Card
  • Best Career Options After BCA In India
  • IAF Agniveer Vayu Application Form 2023 Out: Download Link, Eligibility
  • UPSC NDA 2022 Previous Year Papers PDF Download
  • Indian Air Force Agniveer Vayu Previous Year Question Paper PDF 2023

Trending Posts

  • states of india and their capitals and languages

    List of 28 States of India and their Capitals and Languages 2023 – PDF Download

    150261 shares
    Share 60102 Tweet 37564
  • List of Government Banks in India 2023: All you need to know

    61860 shares
    Share 24744 Tweet 15465
  • TNPSC Group 2 Posts and Salary Details 2022

    39693 shares
    Share 15877 Tweet 9923
  • KSDA Recruitment 2023 Apply Online for 9264 FDA SDA Posts – Qualification

    2076 shares
    Share 830 Tweet 519
  • New Map of India with States and Capitals 2023

    28793 shares
    Share 11517 Tweet 7198

Courses

  • Data Science Course
  • Full Stack Developer Course
  • Data Science Course in Malayalam
  • Full Stack Developer Course in Malayalam
  • Full Stack Developer Course in Hindi
  • Full Stack Developer Course in Tamil
  • Full Stack Developer Course in Telugu
  • Full Stack Developer Course in Kannada

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 PSC
    • Kerala PSC
    • TNPSC
    • APPSC
    • TSPSC
    • BPSC
    • Karnataka PSC
    • MPPSC
    • UPPSC
  • Banking
    • IBPS PO Notification
    • IBPS Clerk Notification
    • SBI PO Notification
    • SBI Clerk Notification
    • SBI SO Notification
    • SBI Apprentice Notification
    • Canara Bank PO Notification
    • Indian Bank PO Notification
    • RBI Assistant Notification
    • RBI Office Attendant Notification
    • IBPS RRB Notification
    • IBPS RRB Office Assistant Notification
  • Govt Exams
    • Railway
    • SSC
  • Skilling
    • Coding
    • Spoken English
    • Stock Marketing
  • TET
    • APTET
    • CTET
    • DSSSB
    • Karnataka TET
    • Kerala TET
    • KVS
    • MPTET
    • SUPER TET
    • TNTET
    • TSTET
    • UPTET
  • Courses
    • Data Science Course
      • Data Science Malayalam
    • Full Stack Developer Course
      • Full Stack Development Malayalam
      • Full Stack Development Hindi
      • Full Stack Development Tamil
      • Full Stack Development Telugu
      • Full Stack Development Kannada
    • Stock Market Course
      • Stock Market Course in Malayalam
      • Stock Market Course in Tamil
      • Options Trading Course
    • Spoken English Course
      • Spoken English Course in Malayalam
      • Spoken English Course in Hindi
      • Spoken English Course in Telugu
      • Spoken English Course in Tamil
      • Spoken English Course in Kannada
  • Others
    • GATE
    • MAT
    • KMAT

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

Entri Yearbook 2022 - Download Free eBook

Download Free PDF
x