List of PSU Banks in india: Public sector banks are defined as banks that are managed and owned by the government, with the owners being members of the Indian government. A bank is categorized as a public sector bank if the government holds more than 51% of the bank's stock. Currently, there are 12 public sector banks in India. The Reserve Bank of India, overseen by the Indian government's financial department, has authority over all banks. Typically, the Indian government appoints a chief for these public sector banks, responsible for making operational decisions for the bank.
Public sector banks in India, commonly known as the government banks of India, play a central role in shaping the country's financial landscape and expressively influencing its economic progress. These banks have been instrumental in promoting financial inclusion and socio-economic development by actively supporting government initiatives like the Jan Dhan Yojana and Mudra Yojana.
Their widespread branch networks ensure that banking services reach even the most remote areas, making them accessible to all. In spite of facing challenges such as heightened competition from private banks and the need to adopt advanced technology, the government banks of India remain an integral part of the country's banking system. This article will provide deep information about various aspects of public sector banks in India.
PSU Banks List in India
| Sr. No. | Bank | Market Cap (Rs Crore) | Headquarter |
|---|---|---|---|
| 1 | State Bank of India | 5,00,179.88 | Mumbai |
| 2 | Bank of Baroda | 1,00,272.71 | Vadodara |
| 3 | Punjab National Bank | 83,518.55 | New Delhi |
| 4 | Union Bank of India | 79,239.07 | Mumbai |
| 5 | Indian Overseas Bank | 74,343.19 | Chennai |
| 6 | Canara Bank | 71,005.06 | Bengaluru |
| 7 | Indian Bank | 51,094.22 | Chennai |
| 8 | UCO Bank | 45,014.18 | Kolkata |
| 9 | Bank of India | 42,533.46 | Mumbai |
| 10 | Central Bank of India | 38,300.30 | Mumbai |
| 11 | Bank of Maharashtra | 30,697.75 | Pune |
| 12 | Punjab & Sind Bank | 27,653.37 | New Delhi |
List of Regional Rural Banks in India
- Andhra Pradesh
- Andhra Pragathi Grameena Bank
- Chaitanya Godavari Gramin Bank
- Saptagiri Gramin Bank
- Arunachal Pradesh
- Arunachal Pradesh Rural Bank
- Assam
- Assam Gramin Vikash Bank
- Bihar
- Dakshin Bihar Gramin Bank
- Uttar Bihar Gramin Bank
- Chhattisgarh
- Chhattisgarh Rajya Gramin Bank
- Gujarat
- Baroda Gujarat Gramin Bank
- Saurashtra Gramin Bank
- Haryana
- Sarva Haryana Gramin Bank
- Himachal Pradesh
- Himachal Pradesh Gramin Bank
- Jammu and Kashmir
- J&K Grameen Bank
- Ellaquai Dehati Bank
- Jharkhand
- Jharkhand Rajya Gramin Bank
- Karnataka
- Karnataka Gramin Bank
- Karnataka Vikas Grameena Bank
- Kerala
- Kerala Gramin Bank
- Madhya Pradesh
- Madhyanchal Gramin Bank
- Madhya Pradesh Gramin Bank
- Maharashtra
- Maharashtra Gramin Bank
- Vidharbha Konkan Gramin Bank
- Manipur
- Manipur Rural Bank
- Meghalaya
- Meghalaya Rural Bank
- Mizoram
- Mizoram Rural Bank
- Nagaland
- Nagaland Rural Bank
- Odisha
- Odisha Gramya Bank
- Utkal Grameen Bank
- Puducherry
- Puduvai Bharathiar Grama Bank
- Punjab
- Punjab Gramin Bank
- Rajasthan
- Baroda Rajasthan Kshetriya Gramin Bank
- Rajasthan Marudhara Gramin Bank
- Tamil Nadu
- Tamil Nadu Grama Bank
- Telangana
- Telangana Grameena Bank
- Andhra Pradesh Grameena Vikas Bank
- Tripura
- Tripura Gramin Bank
- Uttar Pradesh
- Aryavart Bank
- Prathama UP Gramin Bank
- Baroda UP Bank
- Uttarakhand
- Uttarakhand Gramin Bank
- West Bengal
- Paschim Banga Gramin Bank
- Bangiya Gramin Vikash Bank
- Uttarbanga Kshetriya Gramin Bank
List of Top 10 government banks in India by market cap
State Bank of India
- CEO: Dinesh Kumar Khara
- Revenue FY 22-23 (Cr.): 3,32,103.06
- The State Bank of India (SBI), established in 1955, holds the distinction of being the largest public sector bank in India. It plays a prominent role in the nation's financial sector, offering a diverse range of banking and financial services to millions of domestic and international clients. In the first quarter of the 2023-24 fiscal year, SBI surpassed Reliance Industries, becoming India's most profitable corporation.
Bank of Baroda
- CEO: Debadatta Chand
- Revenue FY 22-23 (Cr.): 89,588.54
- Founded in 1908, the Bank of Baroda (BoB) secures the second position among India's top 10 public sector banks. BoB is renowned for its comprehensive range of financial services both domestically and globally. Notably, BoB made history with the first-ever three-way merger alongside Dena Bank and Vijaya Bank. Recent filings reveal a significant 88.7 percent increase in net profit to Rs4,070.1 crores in the April-June quarter of FY 2023-24.
Punjab National Bank
- CEO: Atul Kumar Goel
- Revenue FY 22-23 (Cr.): 85,144.11
- Established in 1894, Punjab National Bank (PNB) holds the third position among India's top 10 public sector banks. Headquartered in New Delhi, PNB boasts an extensive customer base exceeding 180 million. The bank recently signed a Memorandum of Understanding (MoU) with REC (Rural Electrification Corporation) to explore funding opportunities in the Power Infrastructure and logistics sectors, aiming to co-finance loans totaling Rs55,000 crore over the next three years.
Union Bank of India
- CEO: A. Manimekhalai
- Revenue FY 22-23 (Cr.): 80,743.34
- Established in 1919, the Union Bank of India is the fourth largest public sector bank in the country. Inaugurated by Mahatma Gandhi, the bank underwent nationalization in 1969, collaborating with 14 other banks to pool resources for the nation's progress. The Union Bank recently introduced two new debit card variants on the Rupay network, catering to ultra HNI and women, each offering unique benefits.
Indian Overseas Bank
- CEO: Ajay Kumar Srivastava
- Revenue FY 22-23 (Cr.): 19,400.33
- Founded in 1937, Indian Overseas Bank (IOB) is a prominent public sector bank headquartered in Chennai, Tamil Nadu. Beyond domestic operations, IOB has extended its presence internationally. The bank reported a notable 28 percent increase in net profit in the past year, reaching Rs500 crores, attributed to healthy loan growth and interest income.
Canara Bank
- CEO: K. Satyanarayana Raju
- Revenue FY 22-23 (Cr.): 84,424.78
- Established in 1906, Canara Bank, headquartered in Bengaluru, Karnataka, boasts a rich legacy catering to the financial needs of numerous patrons. The bank successfully raised Rs5,000 crore by issuing Long Term Infrastructure Bond, Series I Bonds in the fiscal year 2022-23, receiving strong investor interest.
Indian Bank
- CEO: Shanti Lal Jain
- Revenue FY 22-23 (Cr.): 44,942.21
- Established in 1907 and headquartered in Chennai, Tamil Nadu, Indian Bank is committed to offering innovative banking solutions and customer-centric services with a widespread national presence.
UCO Bank
- CEO: Ashwani Kumar
- Revenue FY 22-23 (Cr.): 17,650.51
- Founded in 1943, UCO Bank maintains a substantial national presence in Kolkata, West Bengal, prioritizing trust and dependable banking services. The bank reported a significant 80 percent increase in net profit, reaching Rs223 crore for the April-June 2023 quarter.
Central Bank of India
- CEO: Matam Venkata Rao
- Revenue FY 22-23 (Cr.): 25,541.89
- Established in 1911, the Central Bank of India stands among India's top 10 public sector banks. The bank reported a notable increase in net profit, reaching Rs418.4 crore for the April-June 2023 quarter, with a significant reduction in gross and net NPAs compared to the previous year.
Bank of India
- CEO: Rajneesh Karnatak
- Revenue FY 22-23 (Cr.): 47,647.72
- Established in 1906, the Bank of India (BoI) is one of India's oldest public sector banks. Headquartered in Mumbai, Maharashtra, the bank reported a significant increase in net profit to Rs1,551 crore for the June 2023 quarter, attributed to reduced bad loans and higher margins resulting from the repricing of existing assets.
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