The banks are the major components of the Indian financial system which play a vital role in the economic development of India.
In this article, we will go through each type of banks functioning in India as of 1st April 2020. But before we go ahead, let us first discuss how many categories of banks are functioning in India.
Table of Contents
Classification of Banks in India:
The banks basically can be classified into 7 categories as follows. See the following hierarchy to better understand the structure of banks in India.
- Public Sector Banks
- State Bank of India & Associates
- Other Nationalised Banks
- Private Sector Banks
- Foreign Banks
- Foreign Banks (With Branches Only)
- Foreign Banks (Along with Their Representative Only)
- Regional Rural Banks (RRB)
- Small Finance Banks
- Payment Banks
- Cooperative Banks
- State Cooperative Banks
- Urban Cooperative Banks
Now let us understand a brief definition of the above types of banks along with the complete list of banks present in India.
1) Public Sector Banks:
Public sector banks are those banks wherein the majority of stakes are held by the Government of India. Majority of stakes refers to more than 51% stakes should be owned by the Government itself.
Following are the comprehensive details of all public sector banks in India as of April 2020.
| Name of Bank | Government Stake | Headquarter | Establishment | No of Branches |
|---|---|---|---|---|
| Bank of Baroda | 63.74 % | Vadodara, Gujrat | 1908 | 9,481 |
| Bank of India | 87.054 % | Mumbai, Maharashtra | 1906 | 5,000 |
| Bank of Maharashtra | 87.01 % | Pune, Maharashtra | 1935 | 1897 |
| Canara Bank | 72.55 % | Bengaluru, Karnataka | 1906 | 10,342 |
| Central Bank of India | 88.02 % | Mumbai, Maharashtra | 1911 | 4,666 |
| Indian Bank | 81.73 % | Chennai, Tamil Nadu | 1907 | 6,104 |
| Indian Overseas Bank | 91 % | Chennai, Tamil Nadu | 1937 | 3,400 |
| Punjab & Sind Bank | 79.62 % | New Delhi, Delhi | 1908 | 1,554 |
| Punjab National Bank | 70.22 % | New Delhi, Delhi | 1894 | 11,437 |
| State Bank of India | 61% | Mumbai, Maharashtra | 1955 | 24,000 |
| UCO Bank | 93.29 % | Kolkata, West Bengal | 1943 | 4,000 |
| Union Bank of India | 67.43 % | Mumbai, Maharashtra | 1919 | 9609 |
List of Merged Banks (With effect from 1st April 2020):
| Serial No | Name of Banks | Merged To |
|---|---|---|
| 1) | Vijaya Bank | Bank of Baroda |
| 2) | Dena Bank | |
| 3) | Syndicate Bank | Canara Bank |
| 4) | Allahabad Bank | Indian Bank |
| 5) | Oriental Bank of Commerce | Punjab National Bank |
| 6) | United Bank of India | |
| 7) | State Bank of Bikaner & Jaipur | State Bank of India |
| 8) | State Bank of Hyderabad | |
| 9) | State Bank of Indore | |
| 10) | State Bank of Mysore | |
| 11) | State Bank of Patiala |
|
| 12) | State Bank of Saurashtra | |
| 13) | State Bank of Travancore | |
| 14) | Bhartiya Mahila Bank | |
| 15) | Andhra Bank | Union Bank of India |
| 16) | Corporation Bank |
2) Private Sector Banks:
The private sector banks are those banks which are independently managed by the private entities/ companies. As of now (April 2020) there are 22 private banks in India.
| Serial No | Name of Banks | Headquarter | Establishment | No of Branches |
|---|---|---|---|---|
| 1) | Axis Bank | Mumbai, Maharashtra | 1993 | 4,800 |
| 2) | Bandhan Bank | Kolkata, West Bengal | 2015 | 1,000 |
| 3) | Catholic Syrian Bank | Thrissur, Kerala | 1920 | 426 |
| 4) | City Union Bank | Thanjavur, Tamil Nadu | 1904 | 600 |
| 5) | DCB Bank | Mumbai, Maharashtra | 1930 | 323 |
| 6) | Dhanlaxmi Bank | Thrissur, Kerala | 1927 | 269 |
| 7) | Federal Bank | Kocchi, Kerala | 1931 | 1,252 |
| 8) | HDFC Bank | Mumbai, Maharashtra | 1994 | 4,787 |
| 9) | ICICI Bank | Mumbai, Maharashtra | 1994 | 4,882 |
| 10) | IDBI Bank | Mumbai, Maharashtra | 1964 | 1,852 |
| 11) | IDFC First Bank | Mumbai, Maharashtra | 2015 | 301 |
| 12) | Indusind Bank | Mumbai, Maharashtra | 1994 | 1.004 |
| 13) | Jammu & Kashmir Bank | Srinagar, Jammu & Kashmir | 1938 | 958 |
| 14) | Karnataka Bank | Mangluru, Karnataka | 1924 | 835 |
| 15) | Karur Vysya Bank | Karur, Tamil Nadu | 1916 | 668 |
| 16) | Kotak Mahindra Bank | Mumbai, Maharashtra | 2003 | 1,369 |
| 17) | Laxmi Vilas Bank | Karur, Tamil Nadu | 1926 | 570 |
| 18) | Nainital Bank | Nainital, Uttarakhand | 1922 | 135 |
| 19) | RBL Bank | Mumbai, Maharashtra | 1943 | 342 |
| 20) | South Indian Bank | Thrissur, Kerala | 1929 | 852 |
| 21) | Tamilnad Mercantile Bank | Thoothukudi, Tamil Nadu | 1921 | 509 |
| 22) | Yes Bank | Mumbai, Maharashtra | 2004 | 1,050 |
3) Foreign Banks in India:
The foreign banks are those banks which are incorporated in foreign countries and whose headquarters are present in foreign countries but their branches are operated in India. There are typically two categories of foreign banks as below.
Foreign Banks (With Branches Only):
| Serial No | Bank's Name | Serial No | Bank's Name | Serial No | Bank's Name |
|---|---|---|---|---|---|
| 1) | AB Bank Ltd | 16) | DBS Bank Ltd. | 31) | Sberbank |
| 2) | Abu Dhabi Commercial Bank Ltd | 17) | Deutsche Bank | 32) | Shinhan Bank |
| 3) | American Express Banking Corp. | 18) | Emirates NBD Bank PJSC | 33) | Societe Generale |
| 4) | Australia and New Zealand Banking Group | 19) | First Abu Dhabi Bank PJSC | 34) | Sonali Bank Ltd. |
| 5) | Barclays Bank Plc. | 20) | FirstRand Bank Ltd. | 35) | Standard Chartered Bank |
| 6) | Bank of America | 21) | HSBC Ltd | 36) | Sumitomo Mitsui Banking Corporation |
| 7) | Bank of Nova Scotia | 22) | Industrial & Commercial Bank of China Ltd | 37) | United Overseas Bank Ltd. |
| 8) | Bank of Bahrain & Kuwait BSC | 23) | Industrial Bank of Korea | 38) | Westpac Banking Corporation |
| 9) | Bank of Ceylon | 24) | J.P. Morgan Chase Bank N.A. | 39) | Woori Bank |
| 10) | Bank of China | 25) | KEB Hana Bank | ||
| 11) | BNP Paribas | 26) | Kookmin Bank | ||
| 12) | Citibank N.A. | 27) | Krung Thai Bank Public Co. Ltd. | ||
| 13) | Credit Agricole Corporate & Investment Bank | 28) | Mizuho Bank Ltd. | ||
| 14) | Credit Suisse A.G | 29) | Qatar National Bank SAQ | ||
| 15) | CTBC Bank Co. Ltd. | 30) | Coöperatieve Rabobank U.A. |
Foreign Banks (Along with Representative Office):
| Serial No | Name of Banks | Serial No | Name of Banks |
|---|---|---|---|
| 1) | Access Bank | 11) | DZ Bank |
| 2) | Banco Bilbao Vizcaya Argentaria | 12) | Gazprombank |
| 3) | Banco BPM | 13) | Intesa Sanpaolo |
| 4) | Banco de Sabadell | 14) | National Australia Bank |
| 5) | Bank of Montreal | 15) | Natixis Raiffeisen Bank International |
| 6) | Bank of Taiwan | 16) | Skandinaviska Enskilda Banken |
| 7) | Busan Bank | 17) | The Bank of New York Mellon |
| 8) | Caixa Geral de Depositos | 18) | Toronto Dominion Bank |
| 9) | Credit Industriel et Commercial | 19) | UBS AG Wells Fargo Bank |
| 10) | DNB Bank | 20) | Zurcher Kantonalbank |
4) Regional Rural Banks (RRBs):
| Serial No | Bank's Name | Sponsored Bank | State |
|---|---|---|---|
| 1) | Andhra Pradesh Grameena Vikas Bank | State Bank of India | Andhra Pradesh |
| 2) | Andhra Pragathi Grameena Bank | Canara Bank | |
| 3) | Chaitanya Godavari Gramin Bank | Union Bank of India | |
| 4) | Saptagiri Grameena Bank | Indian Bank | |
| 5) | Arunachal Pradesh Rural Bank | State Bank of India | Arunachal Pradesh |
| 6) | Assam Gramin Bank | Punjab National Bank | Assam |
| 7) | Dakshin Bihar Gramin Bank | Punjab National Bank | Bihar |
| 8) | Uttar Bihar Gramin Bank | Central Bank of India | |
| 9) | Chhattisgarh Rajya Gramin Bank | State Bank of India | Chhattisgarh |
| 10) | Baroda Gujarat Gramin Bank | Bank of Baroda | Gujarat |
| 11) | Saurashtra Gramin Bank | State Bank of India | |
| 12) | Sarva Haryana Gramin Bank | Punjab National Bank | Haryana |
| 13) | Himachal Pradesh Gramin Bank | Punjab National Bank | Himachal Pradesh |
| 14) | Ellaquai Dehati Bank | State Bank of India | Jammu And Kashmir |
| 15) | Jammu And Kashmir Grameen Bank | J & K Bank Ltd | |
| 16) | Vananchal Rajya Gramin Bank | State Bank of India | Jharkhand |
| 17) | Karnataka Gramin Bank | Canara Bank | Karnataka |
| 18) | Karnataka Vikas Grameena Bank | Canara Bank | |
| 19) | Kerala Gramin Bank | Canara Bank | Kerala |
| 20) | Madhya Pradesh Gramin Bank | Bank of India | Madhya Pradesh |
| 21) | Madhyanchal Gramin Bank | State Bank of India | |
| 22) | Maharashtra Gramin Bank | Bank of Maharashtra | Maharashtra |
| 23) | Vidarbha Konkan Gramin Bank | Bank of India | |
| 24) | Manipur Rural Bank | Punjab National Bank | Manipur |
| 25) | Meghalaya Rural Bank | State Bank of India | Meghalaya |
| 26) | Mizoram Rural Bank | State Bank of India | Mizoram |
| 27) | Nagaland Rural Bank | State Bank of India | Nagaland |
| 28) | Odisha Gramya Bank | Indian Overseas Bank | Odisha |
| 29) | Utkal Grameen Bank | State Bank of India | |
| 30) | Puduvai Bharathiar Grama Bank | Indian Bank | Puducherry |
| 31) | Punjab Gramin Bank | Punjab National Bank | Punjab |
| 32) | Rajasthan Marudhara Gramin Bank | State Bank of India | Rajasthan |
| 33) | Baroda Rajasthan Kshetriya Gramin Bank | Bank of Baroda | |
| 34) | Tamil Nadu Grama Bank | Indian Bank | Tamil Nadu |
| 35) | Telangana Grameena Bank | State Bank of India | Telangana |
| 36) | Tripura Gramin Bank | Punjab National Bank | Tripura |
| 37) | Aryavart Bank | Bank of India | Uttar Pradesh |
| 38) | Baroda UP Bank | Bank of Baroda | |
| 39) | Prathama UP Gramin Bank | Punjab National Bank | |
| 40) | Uttarakhand Gramin Bank | State Bank of India | Uttarakhand |
| 41) | Bangiya Gramin Vikash Bank | Punjab National Bank | West Bengal |
| 42) | Uttarbanga Kshetriya Gramin Bank | UCO Bank | |
| 43) | Paschim Banga Gramin Bank | Central Bank of India |
5) Small Finance Banks:
| Name of Bank | Headquarter | Established |
|---|---|---|
| AU Small Finance Bank | Jaipur | 2017 |
| Capital Small Finance Bank | Jalandhar | 2016 |
| ESAF Small Finance Bank | Thrissur | 2017 |
| Equitas Jana Small Finance Bank | Chennai | 2016 |
| Fincare Small Finance Bank | Bengaluru | 2017 |
| Jana Small Finance Bank | Bengaluru | 2018 |
| North East Jana Small Finance Bank | Guwahati | 2017 |
| Suryoday Small Finance Bank | Navi Mumbai | 2017 |
| Ujjivan Small Finance Bank | Bengaluru | 2017 |
| Utkarsh Small Finance Bank Ltd. | Varanasi, UP | 2016 |
6) Payment Banks:
| Name of Bank | Headquarter | Established |
|---|---|---|
| Airtel Payment Bank | New Delhi, Delhi | 2017 |
| Fino Payment Bank | Mumbai, Maharashtra | 2017 |
| India Post Payment Bank | New Delhi, Delhi | 2018 |
| Jio Payment Bank | Mumbai, Maharashtra | 2018 |
| Paytm Payment Bank | Noida, UP | 2017 |
| NSDL Payment Bank | Mumbai, Maharashtra | 2018 |
7) Cooperative Banks:
The cooperative banks in India are registered under the Cooperative Society Act and regulated by the Reserve Bank of India in the respective states. The cooperative banks adhere to the guidelines of both Banking Regulation Act, 1949 as well as the Cooperative Society Act.
State Cooperative Banks:
| Serial No | Banks Name | Serial No | Banks Name |
|---|---|---|---|
| 1) | Andaman and Nicobar State Co-operative Bank Ltd. | 19) | The Manipur State Co-operative Bank Ltd. |
| 2) | The Andhra Pradesh State Co-operative Bank Ltd. | 20) | Meghalaya Co-operative Apex Bank |
| 3) | Arunachal Pradesh State Co-operative Apex Bank | 21) | Mizoram Cooperative Apex Bank |
| 4) | The Assam Co-operative Apex Bank Ltd. | 22) | Nagaland State Co-operative Bank |
| 5) | The Bihar State Co-operative Bank Ltd. | 23) | Orissa State Co-Operative Bank |
| 6) | The Chandigarh State Co-operative Bank Limited | 24) | Pondicherry State Co-operative Bank |
| 7) | Chhattisgarh State Co-operative Bank Limited | 25) | Punjab State Co-operative Bank |
| 8) | Delhi State Co-operative Bank | 26) | Rajasthan State Co-operative Bank |
| 9) | The Goa State Co-operative Bank Ltd. | 27) | Sikkim State Co-operative Bank |
| 10) | The Gujarat State Co-operative Bank Ltd. | 28) | Tamil Nadu State Apex Co-operative Bank |
| 11) | The Haryana State Co-operative Apex Bank Ltd. | 29) | Telangana State Co-Operative Apex Bank Limited |
| 12) | The Himachal Pradesh State Co-operative Bank Ltd. | 30) | Tripura State Co-operative Bank |
| 13) | The Jammu and Kashmir State Co-operative Bank Ltd. | 31) | Uttar Pradesh Co-operative Bank |
| 14) | The Jharkhand State Co-operative Bank Ltd. | 32) | Uttarakhand State Co-operative Bank |
| 15) | The Karnataka State Co-operative Apex Bank Ltd. | 33) | West Bengal State Co-operative Bank |
| 16) | The Kerala State Co-operative Bank Ltd. | ||
| 17) | Madhya Pradesh Rajya Sahakari Bank Maryadit | ||
| 18) | The Maharashtra State Co-operative Bank Ltd. |
Urban Cooperative Banks:
| Name of Banks | Name of Banks | Name of Banks |
|---|---|---|
| Ahmedabad Mercantile (CO) Bank | Janata Sahakari Bank Ltd. Pune | Shikshak Sahakari Bank Ltd. Nagpur |
| Amanath Co-operative Bank Ltd Bangalore | Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd | Sardar Bhiladwala Pardi People's Co-Op. Bank Ltd |
| Abhyudaya Co-operative Bank Ltd | Kalyan Janata Sahakari Bank Ltd | Surat Peoples Coop Bank Ltd |
| Apna Sahakari Bank Ltd | Kapol Co-operative Bank Ltd., Mumbai | Shikshak Sahakari Bank Ltd. Nagpur |
| Bassein Catholic Co-operative Bank Ltd | Karad Urban Co-operative Bank Ltd. | The Mehsana Urban Co-Op Bank Ltd |
| Bharat Co-operative Bank (Mumbai) Ltd | Nagar Urban Co-operative Bank Ltd., Ahmednagar | Thane Bharat Sahakari Bank Ltd |
| Bharati Sahakari Bank Limited. | Nasik Merchant's Co-operative Bank Ltd. | TJSB Sahakari Bank The Jaynagar |
| Bombay Mercantile Co-operative Bank Limited MUMBAI | New India Co-operative Bank Ltd. Mumbai | Majilpur People's Co-Operative Bank Ltd. |
| Citizen Credit Co-operative Bank Ltd. Mumbai | NKGSB Co-operative Bank Ltd. Mumbai | The Akola Janata Commercial Co-operative Bank Ltd. Akola |
| Cosmos Bank | Nutan Nagarik Sahakari Bank Ltd | The Akola Urban Co-operative Bank Ltd. Akola |
| Dombivli Nagari Sahakari Bank Ltd. | Nagpur Nagrik Sahakari Bank Ltd | The Khamgaon Urban Co-operative Bank Ltd |
| Gopinath Patil Parsik Janata Sahakari Bank Ltd | Pravara Sahakari Bank Ltd. | Vasai Vikas Sahakari Bank Ltd. |
| Greater Bombay Co-operative Bank Limited MUMBAI | Punjab and Maharashtra Co-operative Bank | Zoroastrian Co-operative Bank Ltd Mumbai |
| GS Mahanagar Co-operative Bank Ltd. Mumbai | Rajkot Nagrik Sahakari Bank Ltd | Mapusa Urban Co-operative Bank of Goa Ltd |
| Goa Urban Co-operative Bank Limited. | Rajarambapu Sahakari Bank Ltd | |
| Indian Mercantile Co-operative Bank Ltd | Rupee Co-operative Bank Ltd Pune | |
| Jalgaon Janata Sahakari Bank Ltd. Janalaxmi Co-operative Bank Ltd. Nashik | Sangli Urban Co-operative Bank Ltd | |
| Jalgaon People's Co-operative Bank Ltd. | Saraswat Bank Shamrao Vithal Co-operative Bank | |
| Janakalyan Sahakari Bank Ltd Mumbai | Solapur Janata Sahakari Bank Ltd |
Frequently Asked Questions (FAQ):
Q.1 How many banks are in India?
As per Reserve Bank of India (RBI), there are 12 public sector banks and 22 private sector banks as of 1st April, 2020.
Q.2 How many banks are there in India 2020?
The Finance Minister of India, Mrs Nirmala Sitharaman announced the merger of 10 banks into four in 2019. Hence, with effect from 1st April 2020, there are only 12 public sector banks functioning in India.
Q.3 Which is the largest bank in India?
The State Bank of India (SBI) is the largest banks in India with operation of 24,000 branches across India.
Q.4 Is SBI a private bank?
The SBI is public sector bank headquartered in Mumbai, Maharashtra owned by the Government of India holding 61% stakes in the State Bank of India.
Q.5 Is SBI is a nationalised bank?
Yes, The SBI is the first Bank to be nationalised but under the State bank of India Act 1955.
Q.6 Is RBL Bank under RBI?
RBL (Ratnakar Bank Ltd) was incorporated on 14 June 1943 in Kolhapur, Maharashtra. Later in 1959, it was recognised as scheduled bank as per RBI Act, 1934. In 1970, RBL got banking license from the Reserve Bank of India.
Q.7 What are the Nationalised banks?
The nationalised banks means the private banks which are undertaken by the Government by holding the stakes more than 51%. Once upon a time in India there were majority of banks were under private control, later the former Prime Minister Lt. Mrs Indira Gandhi nationalised 14 major banks.
Q.8 What are Regional Rural Banks (RRBs)?
The Regional Rural Banks (RRBs) are also Indian Scheduled banks functioning at regional level in different states of India. The major focus of such banks to provide basic banking and financial services primarily to remote areas.